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Originally posted by Sarkazmon
Anybody who believes that the economic mess is the fault of only one side of the coin doesn't deserve the time of day.
Originally posted by Blaine91555
We are now reaching that point again. The only way to dig out of all this money printing and drunken spending by the Progressives is to let the inflation Genie out of the bottle. Soon you will start to hear regular reports of the interest rates going up. Prices on all goods and services will start to climb quickly. What your dollar would buy today, it will take two to buy tomorrow. You might think you have enough, but if prices double and your income does not go up at all, do you?
Originally posted by Subjective Truth
reply to post by HunkaHunka
I am sorry but you always make such a easy target. Lets see I am fine but everything else around me is falling. Hmm and also I cant leave the country with my money and assets because of new laws.
Seriously do you need me to draw you a picture or what? It will not matter what you have or if you are debt free it will matter how much survival skills you have. Money means nothing when it is worth nothing.
Originally posted by EarthCitizen07
reply to post by Gools
I wasn't really interested in a political argument of right vs left but Blaine9155 was wrongfully accussing democrats for a page and a half so naturally I got a little mad....
Originally posted by Blaine91555
Originally posted by HunkaHunka
You still haven't explained what the OP meant when he/she said "Get out of debt now... if you remember the late 70's early 80's you'll know what I mean" is referring to. That's what I asked him.
Can't speak for the OP, but I can relate what happened.
That was a horrible time in our history under a rabid Progressive President named Carter at the worst possible time.
As is always the case throughout history, Progressives when they get some power take actions that destroy economies. We had good little Progressives running around telling us all that we were being robbed by the big oil companies and consumer advocates coming out of the woodwork. Buying and spending tanked and companies went belly up overnight.
I was working for various Oil Companies and Industrial Construction and Mining outfits. These companies were pressured by lying politicians like Carter and publicity hounds like Nader to keep prices artificially low. So low that they could not pay for new drilling or development of new products which is a suicide mission.
On top of that, Progressive policies always lead to deep debt, unemployment as the companies run out of disposable cash and a devaluation of the dollar. As the debt is piling up, there comes a point were the only way out is inflation to bring the value of the dollar down.
We are now reaching that point again. The only way to dig out of all this money printing and drunken spending by the Progressives is to let the inflation Genie out of the bottle. Soon you will start to hear regular reports of the interest rates going up. Prices on all goods and services will start to climb quickly. What your dollar would buy today, it will take two to buy tomorrow. You might think you have enough, but if prices double and your income does not go up at all, do you?
Originally posted by Maxmars
Hopefully the geniuses in the Fed and the rest of monetary manipulation gang can come up with a recipe that won't utterly destroy what remains of our nation.
Perhaps this will be the tipping point, when the people decide with finality, that monetary policy is the domain of our government, and not private enterprise steeped in secrecy.
Monetary policy should NOT be the domain of government
mydd.com...
...most Americans didn't create those debts! WHY should we pay? Because the looting of America demands it! Because the bankers have so much power, thats why! The obvious endgame is that after assuming so much debt, not only would all social programs be put on hold indefinitely, eventually the US would eventually default on the deficit, forcing the US into IMF austerity programs.
Programs like Social Security and Medicare typically are eliminated in these national default situations.
Is the goal to force the US into the same kinds of IMF austerity programs that have caused riots in so many other nations?
Certainly, the US, which has been at the lead in pushing for these measures elsewhere, would not be able to escape having its own medicine applied to it.
Inquiring minds want to know.
en.wikipedia.org...
"In economics, austerity is when a national government reduces its spending in order to pay back creditors. Austerity is usually required when a government's fiscal deficit spending is felt to be unsustainable.
Development projects, welfare programs and other social spending are common areas of spending for cuts. In many countries, austerity measures have been associated with short-term standard of living declines until economic conditions improved once fiscal balance was achieved (such as in the United Kingdom under Margaret Thatcher, Canada under Jean Chrétien, and Spain under González).
Private banks, or institutions like the International Monetary Fund (IMF), may require that a country pursues an 'austerity policy' if it wants to re-finance loans that are about to come due. The government may be asked to stop issuing subsidies or to otherwise reduce public spending. When the IMF requires such a policy, the terms are known as 'IMF conditionalities'.
Austerity programs are frequently controversial, as they impact the poorest segments of the population and often lead to a wider separation between the rich and poor. In many situations, austerity programs are imposed on countries that were previously under dictatorial regimes, leading to criticism that populations are forced to repay the debts of their oppressors.