FatalWishes
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NYC National Debt Clock runs out of digits
http://news.yahoo.com/s/ap/o...AvuG5JqrBLm9v4c0ui1lLBADW7oF
That is pretty sad. This country is broke and keeps fighting a losing battle. We need to file bankruptcy.
They should take the warning labels off of everything and let stupidity sort itself out.
Please check out our new website at www.globalwarmingisnotreal.com |
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ghoster
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When it runs out of digits does this mean the debt goes away? Like the Mayan calendar sort of?
As democracy is perfected, the office of president represents, more and more closely, the inner soul of the people. On some great and glorious day the plain folks of the land will reach their heart's desire at last and the White House will be adorned by a downright moron."
- H.L. Mencken |
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Indy
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The country can file bankruptcy all it wants. As long as the US currency is worthless the problem will just come back. As that video in another thread proved our currency is junk. Money = Debt? WTF. Using the system our government does as soon as you print your first dollar you are doomed to failure. We need to let the system crash and then start over again and return to the gold standard. I'd like to see banks restricted to being allowed to only lend their own assets. Watch how fast credit markets dry up when banks have to lend something real. The exception I would make would be money customers have put into interest bearing savings accounts, certificates of deposit, etc. When you put money into an account like that the bank is paying you money for the right to use it. You basically are loaning the bank money. They should not be able to loan money based on what is in checking accounts.
Credit in this country needs to be overhauled. On the consumer side it should be used for 2 things and 2 things only. Homes and automobiles. For businesses it should be used for basically the same thing. Buildings and equipment only. The federal government should never borrow with the exception of a world war and then they can issue war bonds like the good old days. And they should be paid back when due and not refinanced.
"I think God gives us children so death won't come as such a disappointment." - Two and a Half Men |
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chrisisasavage
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Bingo, credit = money that doesn't exist. |
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posted on 10/9/2008 at 07:22
