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I agree. BTW it's Mrs. not Miss Palin.

Fortunately there are not enough knotheads to get her nominated.

However there may well be enough knotheads to get BHO reelected if Conservatives continue to waste time and treasure pimping for Perky.

It really doesn't matter.

The reason no politicians speak in specifics is because none of them have the answer to a 14 trillion dollar national debt, a 1.5 trillion dollar annual budget deficit and 50-100 trillion dollars in entitlements due over the next 25 years.

Usin' my very best thinkin' , I wound up broke , which proves I don't know a damn thing about economics .So; I got a question for those of you who do :

Y'all used to tell us that the Nat'l debt was money we really owed ourselves , so it was not something that should concern us unlearned ones .

Then I started hearin' that it was money that we owed the Chinamen and I don't think they can repo us , so what's the big deal ?

How's THAT for a stump speech ?

Over 40% of the national debt is owed to the Federal Reserve.

The Federal Reserve is privately owned.

You got a piece of it ?

Last I heard the ChiComs owned less than 20% of our debt. Last thing they want is for us to default. What are they going to do? Repo California? (A lot around here would think that a good idea.)

Why do you think the Chinamen can buy our debt? Because we buy their products which means they have dollars to invest in US Treasuries. What's wrong with that?

They're very selective about who get's to buy Federal Reserve stock.

The people will never have "a piece" of it.

If you own stock in a member bank you got a piece of it.

At last count, China held somewhere in the neighborhood of 1 trillion dollars of U.S. debt,...mostly in the form of U.S. Treasury bonds.

Lately, the Chinese have been getting nevous about their bond investments because the quantitative easing by the Fderal Reserve is weakening the dollar, hence, making the Chinese investment in Treasury bonds worth less.

If push comes to shove, the Chinese could sell off their U.S. debt, which would have the same effect as dumping a trillion dollars of new money into the system,....which would have a disasterous effect on the dollar and cause inflation to skyrocket.

More importantly, however, the actions of the Federal Reserve has made U.S. Treasury Bonds a much less desirable investment.

Nobody is lining up to invest in the American dollar anymore,...because it's obvious to the world that the actions of the Federal Reserve are making dollars worth less.

Nobody invests in something that is depreciating in value.

Here's what China is doing to offset their bad investment in U.S. Treasury Bonds.

http://www.moneynews.com/StreetTalk/china-gold-federalreserve/2010/12/03/id/378884

China Massively Buying Gold

The Wall Street Journal reports Friday that gold prices are soaring to record highs as a new powerful factor has emerged as a driver of that rally � China.

According to the Journal, China is now buying huge amounts of gold fearing inflation as the Federal Reserve begins a new set of quantitative easing policies.

The paper�s report � �China Buys In to Gold�s Allure� � cites key data released by China�s state-run Xinhua news agency showing that China imported 209.7 metric tons of gold in the first 10 months of this year. That�s a five hundred percent increase compared to the same period in 2009.

Since you and Spano seem to have a handle on the problem I'm going to go back to not worrying about it .

It is kinda funny that y'all seem to have entirely different takes on the economy but agree that Palin ain't gonna help anything .

I might just write in the two of you for Pres and VP . Coin flip to determine placement .

Spano is a lost ball in tall weeds.

I get it . China will start offering gold cheaper than Glenn Beck .

Guess they'll make up the loss on volume .[I do know a little bit about economics , after all]

No,...China will hold the gold in reserve as a hedge against the inflation which is being caused by the Fed dumping hundreds of billions of dollars of new money into circulation.

They had to buy it frome SOMEWHERE so I guess some folks ain't real attached to it or ain't worried about inflation .

The produce it "in house". They're just selling less of it to outside entities now.

http://www.marketwatch.com/story/china-now-worlds-largest-gold-producer-foreign-miners-at-door

SAN FRANCISCO (MarketWatch) - China became the world's largest gold producer last year, helped by Canadian- and Australian-led projects that aim to add millions in ounces to the world gold supply.

China produced 276 metric tons of gold last year, equal to about 9.7 million ounces, said London precious metals consultancy GFMS Ltd. in a report released Thursday. That's up 12% from the year-ago and represented just over one-tenth of the world's supply.

This is getting interesting -God,I love this place at times .

So , Glen Beck's buyin' gold from China and selling it to TRH etal at a profit .Hmmmmmmmm.

I smell a conspiracy , here .

Glenn Beck is some knothead that gets paid to babble nonsense on TV.

None of the nonsense babbling knotheads on TV have anything to tell you that you need to know.

'preciate the heads up but I decided before he ever went on Fox that - while Beck ranks up there pretty high - I can get my "drama queen fix" from one of the masters right here on the 'fire.

TRH , even when he ain't at the top of his game , could teach Beck about drama .