What BS. Who is the depression worse for? The rich are richer that they were in 1930s. The so-called debt is only a political football to kick around and means nothing to the average person. The problem is that the government lowered tariffs and allowed greed to take over. Jobs were shipped overseas to create more profit for the idle rich. Exporting jobs was an anti-American traitorous act.
Problem is there's no manufacturing here laying idle and, what's more, there no striking, earthshaking innovation or invention on the horizon to move the economy forward. Those were two elements of promise present even during the "Great Depression." Those elements don't exist today. That's why it is much different in today's poor economy than it was in the 1930s. Read an article on this very thing just a few days ago, though, unfortunately, I'm unable to recall the source.
That sure would be good for SLW investors. I sold today most of my shares. Risk trades are off today. Safety, and not losing money is a powerful force. Unless Europe get's it together with a defineable plan to deal with it's...
That's a pretty small slice of the debt pie, but an important step in the right direction. It would cut 1.3T in LONG-TERM debt. What's killing us, however, is the CURRENT PORTION of long-term debt...what we have to shell out annually to run the leviathan and pay interest. RP recognizes that and so he proposed a $1T ANNUAL budget reduction that will balance the budget by his 3rd year in office by eliminating giant tranches of bureaucracy, recommitting to defense instead of aggression, cutting foreign aid, and reducing the numbers of people that rely on the federal gov't for subsistence through block grants to the states. Great plan.
Wrong, wrong, wrong, my friend.
Gov or congress can not help our "American economy" unless they are downsizing government, closing agencies, cutting spending, and lowering taxes.
Anything that causes the U.S. Gov/your/our debt to rise, borrowing for stimulus, taxation, hiring of gov employees, more regulations, are ALL JOB KILLERS, and furthers the eventual destruction of this country.
The only way to benefit the country & create REAL wealth (not debt) is to create jobs in the private sector by private money producing real goods being sold creating new demand, that creates new wealth.
But the bottom line is we are all screwed, because the gov/our debt is already way to high to ever be paid off. Dollar deflation will continue, and the PM markets will continue to be manipulated sense they are the big canary in the dollar debt death mines.
The point is, and I thought it not too well camouflaged at all, that the world is awash in debt money (largely US dollars), but there is not enough of it to facilitate servicing of the underlying debt. That's what a liquidity problem is you know.`
It's really simple math, boys and girls, and with the interest function working against the scheme 100% of the time it will fail.
How that point was overlooked by some very intelligent contributors here amazes me.
<<The only way to benefit the country & create REAL wealth (not debt) is to create jobs in the private sector by private money producing real goods being sold creating new demand, that creates new wealth.>>
It makes no difference if it is private or government creating real goods. If the private sector won't do then government has to step in. That is what China did and it worked.
You are wrong Tburk. All fiat dies from the gov/FED printing presses. Money must have a hard asset backing and value or it will die from the controllers printing it into oblivion. Failures must occur to clean out the system from the failed decisions, and failed management. Right now no one is allowed to fail, except the serfs. The NWO is failing before the party even got started, as expected.
But it makes no difference to you or I, because we are just sheep on a big boat taking on lots of debt and sinking fast.
I am an Independent voter,and our country need's to be more business friendly. The bottom line is that only business create's productive job's. I do not like this coming new health care plan. It will be run basically by the health insurance companies. Talk about conflict of interest!(if a person dies sooner or get's cheap medical care, the health insurance companies save money). Better America has medicare for all American's than that.