In 2005 we didn't owe $16T did we? The deficits will start to grow expontentially once rates rise. Today, our deficit includes $500B in interest, at 6% we're looking at additional $700B+ on top of this. This country is morally and physically bankrupt.
No country can spend there way out. History shows us exactly what happens. They are running out of options. We allowed a elite group to control the money and the greed and power takes over.
I just hope that there are a few good guys left to help pick up the pieces. Interesting while this is happening, few will be aware, but everyone afterwards will feel the pain and want answers. I hope that for once and for all, the fiat money be abolished. We have to return to sound money. As a last point and I'm sure you missed it, but JP morgan lost maybe 5-100B keeping our interest rates low, throught interest rate default swaps. The gig is up, once rates cannot be artifically kept low.
I want to be accurate on interest rates in Spain, you may not care, but they actually moved higher today. They are now at 6.47% on the ten year. We also had some nice revisions on the books of a Spain bank that reported a 41M Euro profit, but now have looked a little closer at what realy materialized. They actually had a 3.3B euro loss. Multiple this by 1.25 to get what they lost in US dollars. That is a mighty miss.
The fallout is coming faster and faster. Germany wants all the beggars to pledge their gold for loans. That isn't going to sit well. Go watch your kardashians, that's the important stuff.
I'm old enough to take you to school on this. I love hopw the idiot who couldn't explain all the road building in ohio next to vacant buildings was getting us anywhere as a nation.
But let's look at the facts in 1988. We owed about 2.7T as a nation. We had a deficit of 253B that year. Today we owe 16T and incurring a deficit of 1.5T. So you feel that 10% would not hurt uas today, because we handled it back then. But did we handle it back then and are we now. Well I understand that your really rory and a buffon is a buffon. All we did for the past 34 years is roll the interest over and over and now we're seeing deficits that are 7 times greater than 1988.
So if we have a 100T dollar debt and incurring 10T a year, the good old USA could handle 10% interest rates in the future with no ramifications what's so ever. Well it seems that rory has to find some button to push of mine to get some argument. It's so funny how far from grace jelly fell, once it was understood who he really was. I just love how dem liberals view math, finace and the world. They always looking back and never see what they drive over in front of them. The question you need to ask your self is this: Not how old am I, but when will jelly wake up to the crap he shovels. Only one person on this earth would be this stupid in presenting an argument that has no merits to reality.
Todays debts are accumulation of unpaid interest. Buy TP jelly, you're just not bright enough to own silver or gold.
"You all posted within a few minutes of each other." Hate, that in itself would prove 12 ID's are not all the same person, wouldn't it? Also, why would somebody go to all the trouble of creating a lot of identities unless they were being paid? Makes no sense. Also, why would you care? I don't. I could care less if someone uses multple ID's. There again, your obsession borders on "lunacy."