Honestly? It's too late...Several months ago the US Comptroller stated we had gone past the point that we could ever pay back the debt...Even if we taxed at 50% or some weird crap...As before I worried about "If a crash happens" I'm now worried about "When it will happen?" and if I'll still be big, semi-young and strong to get through it.
With QE2, the ball game is over. Expect massive inflation in food prices that will affect our daily lives for years to come. The time is now to take action. I have repeated this over and over again, but 97% are not taking any action. The time is now.
QE3 is coming out 2011. Happy new year.
The Chinese and other foreigners who lent us money will get whatever we give to them. Perhaps .50 cents on the dollar or even worse. There is no doubt in my mind we will default. The numbers just plain don't work. Once we realize and the world realizes that there is no way the U.S.A. can honor it's debt, that is when the proverbial shit will hit the fan.
A government of The People, By The People and For the People...That ended years ago, now it's aGovernment for the Special Interests and Corporations, for the Special Interests and Corporations and of the Special Interests and Corporations.
For more than 200 years, the people made the decisions by telling their reps how to vote. It worked fine, until the reps started to ignore us. Now the greatest, most powerful country in the history of mankind is about collapse.Can we just go to Washington and kill them all and let God sort it out?
The video article is totally in error. China does not own most of our debt. In fact they own very little of it, if less than a Trillion Dollars can be called little. The FED owns over half of our debt and can dismiss that debt at any time it wants. Remember it created the electronic money (with which it bought the bonds and notes) out of thin air. It can take the debt and dismiss it to the same thin air. Poof! Created! -- Poof! Gone!
Mmmmmm... okay Joe.
@6:50 Yes we can! Civil war here we come.
Joe according to the government stats, China owns just under 1 trillion in US debt with JAPAN in a close second. The entire world holds close to 5 Trillion in TOTAL US DEBT. The US owns the balance. The FEDERAL RESERVE owns the US, with CHINA in second place. If The Feds clicked delete on their debt held, we would be in FULL FLEDGED RECOVERY. Why would they do that when they can take it from the public in the form of TAXES?
Joe is probably some 60 year old bartender whose never missed a Superbowl. Hahahahahahaha... nothing can happen in Joe's world. I knew an idiot like that, I just described him to. He said Obama wouldn't get elected... damn idiot. How's he like that shit? Fucking Joe.
Everyone is encouraged to participate with civilized comments.