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Money needed to fix US economic problems - estimated at over $99 TRILLION

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posted on May, 27 2009 @ 09:07 AM
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The Oxford-educated Mr Fisher, an outspoken free-marketer and believer in the Schumpeterian process of "creative destruction", has been running a fervent campaign to alert Americans to the "very big hole" in unfunded pension and health-care liabilities built up by a careless political class over the years.

"We at the Dallas Fed believe the total is over $99 trillion," he said in February.

"This situation is of your own creation. When you berate your representatives or senators or presidents for the mess we are in, you are really berating yourself. You elect them," he said. His warning comes amid growing fears that America could lose its AAA sovereign rating.

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Just read this article about China warning the FED about printing too much money. It had the added bonus of the tidbit above.




posted on May, 27 2009 @ 10:09 AM
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Let the whole damn circus come crashing down....no bailouts, no propping up failed businesses...let them fail....then declare a national debt jubilee.....all private debt wiped out....we start from scratch,from a clean slate...all of us.... return to a metals based currency, get the **** out of the way, and watch the economy SOAR in a way that's impossible while under the thumb of the debt masters...



 
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