Ron Paul: "The U.S. Government Must Admit It Is Bankrupt"

Discussion in 'Economics' started by bearice, Jan 8, 2011.

Is USA bankrupt?

  1. Yes

    93 vote(s)
  2. No

    46 vote(s)
  1. Any time you bring the two Pauls together in an interview, and start discussing items such as the debt ceiling, government spending, and monetary policy you know the results will be good. Sure enough, in this rare ABC interview with father and son, the sparks fly, and among the topic touched is the most popular story on Zero Hedge from yesterday, namely President Obama fabulous hypocrisy, who after bashing the debt ceiling as a senator 4 years ago, has bet the outcome of his entire economic policy on maxing out every single credit card available to him. Paul's response: "we have to face the fact that we are bankrupt and we can't pay our bills." Not exactly the kind of thing one wants to hear if one's name is Hu Jintao. That said you know the Paul-led interrogation of Bernanke will be something else, even if it is ultimately totally fruitless.
  2. 2 years back I knew USA is bankrupt.
  3. Ur a genius.
  4. 2 years back millions of people knew USA is bankrupt.
  5. clacy


    Were it not for the two facts that we hold the world's reserve currency and that we have military supremacy, I would say yes, we are currently bankrupt.

    With those two facts however, we likely have a little more time to get our act together. Whether we act or not, is unknown.
  6. Russia and China are settling in their own currencies now. That is half of BRIC. It's a matter of time before "reserve currency" is symbolic.

    The fact that the US is not taking any steps speaks volumes. They are gonna ride this unicorn until the crash.
  7. siafx


    Correct me if I’m wrong, but doesn’t bankruptcy imply that the bills aren’t getting paid? What bills are currently in default? Answer: None.
  8. Proud of how Odumbo spends money today to buy political favor and "charges it" to your children and grandchildren, are you?

    (Yeah, I know... "Bush did it to"... BUT ODUMBO IS DOING IT 5X WORSE)
  9. zdreg


    it started with bush who admitted he gave up his free market principles because paulson convinced that this was the only way to save free markets. In reality paulson saved his friends at goldman and stuck the US public with the bill.

    obama ran against a clueless old man because the republicans were more concerned about religion than the economy. obama took the ball and ran with it. his goal is the same as always to make everybody dependent on the government and to create some kind of world government. a patriot he is not.
  10. In theory, and per the US Constitution, the Federal government is the "servant of the people".

    In reality, the Federal Government is a ruling oligarchy... and we all serve IT! :mad: :mad:
    #10     Jan 9, 2011