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MORE MONEY!!!!!
Ricci.Wright
Member Posts: 5,127 ✭✭✭✭
We are getting more "free" money from our benevolent government soon. Another check and I am hearing this one is gonna be even more than the last one. It's just cause they love us and are worried about us, and of course so we will vote for them thinking it will mean more free stuff in the future. I guess they figure they have no choice, that if they told us the truth, that times are bad and may get worse and we all need to buckle down and get tough we couldn't handle it. They are probably right but sooner or later the truth will have to raise its ugly head. What will folks do when they learn there is no such thing as free stuff?? All that free stuff has to be taken from someone else. Like John Fogerty said; "I see a bad moon a-rising
I see trouble on the way".
https://www.bing.com/videos/search?q=bad+moon+rising&view=detail&mid=F9C42A88AFAE643CA841F9C42A88AFAE643CA841&FORM=VIRE0&ru=
I see trouble on the way".
https://www.bing.com/videos/search?q=bad+moon+rising&view=detail&mid=F9C42A88AFAE643CA841F9C42A88AFAE643CA841&FORM=VIRE0&ru=
Comments
What I find interesting is I have been hearing the old farts talking about how bad our national debt is and how it will result in the destruction of our country starting in the early 60's. The same was being said earlier than the early 60's but I was to young to pay attention to politics. I have been hearing about how much debt we have and how we are going to drown under this massive amount of debt on an almost weekly basis from the 60's to date. The difference is that now I'm the old fart. So for 60 years I have been hearing how we can't keep borrowing and adding to our debt. For 60 years the old farts have been wrong, now that I'm the old fart it seems that I might be wrong also. I wonder when this house of cards will finally collapse?? I can't believe we got 60 more years to go but I can't believe we made it this far so who knows??
Greece Crisis Explained
In 2009, Greece’s budget deficit exceeded 15% of its gross domestic product. 2 Fear of default widened the 10-year bond spread and ultimately led to the collapse of Greece’s bond market. This would shut down Greece’s ability to finance further debt repayments.
Debt Could Exceed the Size of the Economy This Year - Committee for a Responsible Federal Budget
During the Great Recession, debt grew by 21 percent of GDP between the end of 2008 and the end of 2010. Under current law, we estimate debt will grow a similar amount over just a seven month period. Specifically, we estimate debt will grow from just under 80 percent of GDP prior to the crisis to over 100 percent of GDP by the end of Fiscal Year 2020, on October 1. Our projections show debt will continue to grow as a share of GDP thereafter, exceeding the prior record of 106 percent set just after World War II by 2023 and exceeding 107 percent of GDP by 2025. The estimates assume a robust recovery in 2021 and a full recovery to pre-crisis projections by 2025.
We are getting ready to exceed what happened in Greece.
We do not know the future. If history is correct, and it tends to repeat itself, it will end suddenly without warning, very badly. You can not monetize the nations money and have it turn out well, we are doing that very thing by the trillions of dollars. You can not destroy value of the world's reserve currency and have it end well for the USA. Will the ball drop in the next 20 years? Who knows. There is a price to be paid and the end of the dollar as the world reserve currency may well be the first step. Any one able to pay $24.00 USD for a loaf of bread or $32.00 USD for a dozen eggs? How about $49.99 for a gallon of gas? We are on the road to financial destruction and or war on a global scale. Wonder how that will work out if this happens during the middle of the US Civil War part II....