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#1 We should be watching these events unfold. Our government has done the same thing but only in a much bigger way. Increase taxes, continue to spend, and barrow. What happens when you can no longer barrow is what we are about to see (China has lost 250- nearly 500 billion on our dollar). So government must cut safety nets. Cut government services/programs. Then turn on their people to save themselves. Tax revenue continues to decline.They have made mistakes that have been made many times in the past. I remember in (I think it was the Hunt for Red October) "you ass, you have killed us").
Posted by Dale 2012-02-05 11:00||
#2 Perhaps it's a law of nature that the rubes can't understand the concept of a government -- an entire nation -- running out of money.
I'm sure B.O.'s counting on that.
Posted by Fred 2012-02-05 12:15||
#3 Fred, B.O. is one of those rubes. I doubt he's ever considered that it might take more than his anointed presence, the lapdog media, and a good protection racket.
Posted by RandomJD 2012-02-05 13:28||
#4 Nah, he's just planning on getting his, and continuing to get his, while we get nuttin'.
Posted by Steve White 2012-02-05 14:23||
#5 Most politicians are not leaders. They wii not tell the bad news and will tell the public what the think the public wants to hear. An exception to this rule was Winston Churchill. Maybe jealousy explains part of the reason why Winston's bust got sent back from the White House.
Most politicians are parasites. They live off the fat of the land.
So......if the public does not demand responsibility, politicians will say platitudes while the country collapses.
Posted by Alaska Paul 2012-02-05 14:26||
#6 Governments that print their own currency and only borrow in their own currency never run out of money.
Rather the reverse. They end up with far too much of it. Like Zim where it took a gazillion zimdollars to buy a loaf of bread.
Posted by phil_b 2012-02-05 18:07||
#7 Good point, phil. I stand corrected.
Posted by RandomJD 2012-02-05 20:14||