The United States of America is hemorrhaging red ink & there's no sanctuary.
So what happens when our financial system does collapse? What happens when we can't pay interest on money we owe? What happens when other countries do not want to buy US bonds? What happens when no one wants anything that's denominated in US dollars?
If our budget deficit is really 5 trillion & not 500 billion, we're headin' southbound on an outbound train.
Americans are the most propagandized people on Earth.
Kotlikoff contends, “If you take all the expenditures that the government is expected to make, as projected by the Congressional Budget Office (CBO), all the spending on defense, repairing the roads, paying for the Supreme Court Justices’ salaries, Social Security, Medicare, Medicaid, welfare, everything and take all those expenditures into the future . . . and compare that to all the taxes that are projected to come in, and the difference is $210 trillion. That’s the fiscal gap. That’s our true debt.”
Professor Kotlikoff goes on to say, “It will collapse. It is just a matter of when. I can’t say when, but all I can say it’s going to be too late. . . . We are seeing signs of this in the economy, but we are not picking it up that clearly. The macro economy is not doing all that well.” Kotlikoff goes on to say, “I think our financial system is really built to fail because it combines two things which really haven’t been addressed. . . . It combines leverage, borrowing by the financial middlemen and then investing in things that they don’t tell you they are investing in. So, there is opacity and leverage. These are the two major problems for the banking system. What we need to do is get rid of the leverage and get rid of the opacity. We need full disclosure of the investments of our financial institutions.”
BTW, why do neocons always give in when it comes to raising the debt ceiling and bailing out their homeboys with taxpayers' money? Never forget that it was neocon 43's, er, I mean Bush 43's treasury secretary, Hank Paulson, who threatened us with martial law if we didn't pass Bush Homeboys Bailout Bill, better known as TARP.
Last edited by SansSouci; 04/13/15.
�If tyranny and oppression come to this land, it will be in the guise of fighting a foreign enemy.� ***US President James Madison***
Weapons not food, not homes, not shoes Not need, just feed the war cannibal animal I walk tha corner to tha rubble that used to be a library Line up to tha mind cemetery now What we don't know keeps tha contracts alive an movin' They don't gotta burn tha books they just remove 'em While arms warehouses fill as quick as tha cells Rally round tha family, pockets full of shells
Trump HAD the World, ", Trump saw our children, " Trump saw a way to make a brighter day so he started giving There was a choice he was making, he was saving our own lives Its true he made a brighter day for you and me. --Trump WINS 2016
Favorite Neil Young song. As to the OP's question, I really don't know what's going to happen, have to wait and see
Nothing is going to happen as the whole world is awash in liquidity (cheap money) and debt. It's not just "our problem" as all major economies are living far beyond their means. The printing presses are still oiled and running 24/7. When the music stops we'll just find another band to play.
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
Wondering: Silicon Valley, GM, Ford, Dodge, Boeing, Caterpillar, John Deere, Commodities (as in foods), Timber, Oil and Gas, Coal, Peterbilt, Cummins, Locomotives, Rail Cars, Steel, Gas Turbines, etc., etc., are these all just apparitions?
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
Weapons not food, not homes, not shoes Not need, just feed the war cannibal animal I walk tha corner to tha rubble that used to be a library Line up to tha mind cemetery now What we don't know keeps tha contracts alive an movin' They don't gotta burn tha books they just remove 'em While arms warehouses fill as quick as tha cells Rally round tha family, pockets full of shells
I will never forgive myself for not seeing them live. One of the best bands ever without a doubt.
She never made it past the bedroom door, what was she aiming for...? She's gone shootin..
Raisin, rasouli, sansouci, the convicted felon troll is back again. The felon who claims to have been a cop, weapons expert, etc, etc...
The one who also claimed to be a founding member of IPSC, which again is total Bullschitt.
I think raisin quickly forgot that we know his true identity and who his federal probation officer was, is...
Dammmmnmnmmmmmnnnnnnnnnnn!!!!
That's gonna leave a mark
The government plans these shootings by targeting kids from kindergarten that the government thinks they can control with drugs until the appropriate time--DerbyDude
Whatever. Tell the oompa loompa's hey for me. [/quote]. LtPPowell
Weapons not food, not homes, not shoes Not need, just feed the war cannibal animal I walk tha corner to tha rubble that used to be a library Line up to tha mind cemetery now What we don't know keeps tha contracts alive an movin' They don't gotta burn tha books they just remove 'em While arms warehouses fill as quick as tha cells Rally round tha family, pockets full of shells
Wondering: Silicon Valley, GM, Ford, Dodge, Boeing, Caterpillar, John Deere, Commodities (as in foods), Timber, Oil and Gas, Coal, Peterbilt, Cummins, Locomotives, Rail Cars, Steel, Gas Turbines, etc., etc., are these all just apparitions?
And we produce as much oil as Saudi Arabia...
You didn't use logic or reason to get into this opinion, I cannot use logic or reason to get you out of it.
You cannot over estimate the unimportance of nearly everything. John Maxwell
