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  • cartmania000 cartmania000 Oct 15, 2013 1:10 PM Flag

    Greatest threat to US economy and ironically

    the republican party is the redistricting of red districts which have led to the most extremist influence in government in most of our lifetimes. I sold my gdx on a slight bounce earlier today, and I am sort of asking why. I would get back in on a selloff, if no debt resolution is presented. I presently have a 1/10 stake in vxx, relative to my trading portfolio, otherwise I might have just kept gdx, in spite of questionable underlying technical support and fundamentals.

    Sentiment: Hold

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    • I sense you think the problem is with the extremists in the republican party. I am not sure they are the problem but quite possibly they are on a path leading to a solution. Our debt is being financed with fiat digital money and the status quo would suggest that is good. Printing that money at $85 billion a month is diluting the value of existing dollars at the same rate, and at some point the Ponzie is going to become understood. Some would say it is compasionate to be making all these payments, even with money we do not have. Well at some point we will not be able to make those payments or if made, they will be at significantly reduced value. What is compassionate about making promises that cannot be paid? I frankly think the problem lies with both parties and any politician that votes for any unfunded bill. I also think we need a change of attitude in DC, that being success is measured by the number of laws removed, not new ones added. We are in a position now that the debt needs to be reduced meaning we do not need to reduce the deficit spend, but eliminate it and run surpluses. I am afraid reality is going to set in and the consequences are going to be ugly.

    • Ok, Why did a person go thumbs down on this. Any thoughts? I'm open to reasonable criticism here.

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