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when it comes to the things that really matter, most Americans are completely clueless. For example, while most Americans would agree that we are experiencing difficult economic times right now, most of them would also argue that our economic system is in fundamentally good shape and that things will get back to "normal" at some point. Those of us who are trying to warn America of the impending economic nightmare are dismissed as "doom and gloomers" and "conspiracy theorists". But of course, as with so many things, the passage of time will tell who was right and who was wrong. Below
Originally posted by endisnighe
Everyone can just print up as much money as they need.
US bought a house from Japan (whom represents the oil customers of Iran) for one million dollars. US also bought another house from France (whom represents other oil customers of OPEC) for one million dollars. Japan and France use these two million dollars as fund to buy oil. The money was used in oil trading circle and never back to US. US enjoys the two houses almost free. He doesn't have to pay monthly mortgage payment. Not a penny for interest, nor for principle. All the cost was the printing of a green back paper. However, that green back paper - petro dollar, is still a debit note. How long is it? So far it's more than forty years - since dollar became the appointed oil trade currency.
Originally posted by endisnighe
reply to post by budski
Hey OP, I do not know where you get your info, but just now I was watching CNBC and they said everything is fine.
Hell, look at the financial bill coupled with the health care bill.
Those two legislative endeavors are going to solve all the problems. They will be used to track all monetary transactions, including the lemonade stand my niece is operating now, and everything will be fine.
Heck, they have given the treasury dept and the federal reserve almost limitless power to help us.
I think if they just raise taxes to 150% of income everything will be paid off in no time.
Okay, sarcasm off.
The next step for the federal reserve to attempt to help the economy is to lower interest rates some more to banks. I think that if they lower the rate to say a -10% that might just get the economy going.
I might just start a bank and get paid to borrow money from them. I do not know why they do not just legalize counterfeiting. Everyone can just print up as much money as they need.
I think I am going to fire up my printer!
Originally posted by Misoir
For people who are actually willing to search for the truth will find that we are in far-worse situation than most could imagine. But does that not raise a very large question, why haven't we completely collapsed yet?
Originally posted by sligtlyskepticalThere is no reason we can't do it again. As the markets rebound, taxes paid will soar, and the deficits will fall significantly just from that alone. Things are not near as bad as most think.