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Originally posted by unityemissions
I don't think it much matters.
If we still have goods and services to offer the world, we'll be okay.
If we still have military might to force the trading of commodities so as to export a portion of our running debt, we'll stay afloat.
These are just running tabs, and since we've got AAA credit, and the institutions are all bought off anyways, there's really not a worry.
The only trouble would be the rest of the world ganging up on us, dropping the petrodolar, and then our military getting stretched thin. That means world war, and the draft.
Until then, the game plays on!edit on 22-3-2012 by unityemissions because: (no reason given)
Originally posted by HereAgainGoneTomorrow
I remember the days when we were approaching the 500 billion mark and now we sit on the edge of reaching 20 trillion. This is total insanity....we can not go on this way for much longer.
Just reported, the current debt at 16 trillion and if we balanced the budget, it would take 66 years to pay off the debt. Folks, that's over 3 generations. This would be your great, great grandchildren, if you're an adult with children.
What they don't tell you is that we'd have to balance the budget, reduce spending and reduce the size of government for this to be reality. We, at this point, take in approx 2 trillion in revenues and spend well over 3 trillion, borrowing the difference. In order to get this monkey off our backs, we need to reduce spending by well over 1 trillion right now. Nobody has a plan for this, with the exception of Ron Paul, and anything less is a waste of time talking about it.
Reality sucks, but that doesn't mean we ignore it. The day will come soon when no one will lend us money...then the house of cards will fall. When this happens, you'll be wishing we did something as drastic as reduce spending, government and all these radical ideas proposed by "loony types" such as Ron Paul.
I'm not religious, but I pray that we, as the people, come to our senses and at least make our government accountable for their actions and recognise the need of getting our house in order. Regardless of our political beliefs and/or affiliations, one thing we need to come together on is this.
I welcome your comments and ideas, united we stand...divided we fall!
Originally posted by mee30
reply to post by unityemissions
So can I ask you, do you think that it is ok to pass on your debt to future generations? Do you think that your grandkids should pay for the goods and services you have used?
Also you realize that the debt is only increasing don't you? So you think there will be no limit? It will just keep going and going then? Also as the debt increases so does the repayments on the interest for these loans?
Do you balance your own budget like this? If you did, what do you think will happen?
Originally posted by zatara
reply to post by HereAgainGoneTomorrow
Like many other people I do not understand it that so many countries at the same time have morons for finance ministers. I believe that this is no coincedence, there is something they are not telling us.
It is very easy to hide true meanings and causes of these incredible debts and crisis behind abuse of credit by consumers and flawed morgage deals. Sure there were but I find it hard to believe that all these highly educated economist with Harvard docterates, Phd's and proffesors didn't know what will happen or weren't taken serious when advising the government.
Here in The Netherlands the trouble began more or less when we switched to the euro. One euro was equal to some 2.1 dutch guilders. So when the euro was introduced all wages got cut in half and all goods got cut the same. Ove4r the years everything became more expensive and taxes and insurrances rised while most wages didn't track equally. Ofcourse there is inflation but what happened is ridiculous.
With other words, we got punked with the euro. ....Here in Holland we had just the most beautiful money bills if not among the most beautifull bills in the world. In return we received dull, pale, easy to counterfit and sloppy euro bills.
There was no referendum for the euro transition while many people did not agree or had no chance to think about it. It was shoved down our throat for a purpose. In my opinion the transition to the euro was a way to mislead the population in order to create an enormes amount of money which would be silently syfoned away. After the introduction of the euro several other ways are used by the government to syfon money away.
We too have accumulated an enormes national debt. Nothing compared to the massive -uck-up the US government has created for its citizens but considering the number of inhabitants still not funny.
The Dutch National Debt is a wopping 400 billion euro's and is increasing with 810 euro per second.
Compared to the National Debt of the US we should consider ourselves lucky.
What I do not understand is that every next day is a day as ussual and no immediate actions are taken to stop this all destructing and nation devestating increasing debt. As if the decision makers have decided that all is lost and will keep on spending untill the moment the entire economy will be trapped in an unstoppable downward spiral. Not one of them cares anymore or maybe never did, the only thing that kept them busy was how to make personal profit of their status, secure their future and probably prepare means to escape when the SHTF.
Anyways....I have a gut feeling there is a global organised money drain going on...for something.