http://globaleconomicanalysis.blogspot.com/ And in 2010...The US needs $1.8+ Trillion from another country....or has to print it ????? Mr. Solomon: We seem to be functioning as though weâre not. Thereâs no question that only two trillion of revenue canât service $100 trillion of debt. Itâs pretty clear that thereâs a major problem. Mr. Solomon: The California government is dysfunctional, too little revenue and too much expenditure. Compared to WA, there are more people, more speculation, more bureaucracies, and now more contraction. CA also has extra political risks, the state is bankrupt. The U.S. is also bankrupt. If there were no restrictions due to traveling and language, many people would be going elsewhere. All things being equal, Iâd be building where opportunity is greatest, taxes are lower, and thereâs less regulation. Iâd be more apt to buy something in TX because the economy is stronger than in CA, there is less regulation, no income taxes and the budget is better balanced ................................................................................. Mr. Solomon makes simple major points that if actually understood by the WORST set of polys in history.... The US would start becoming super business friendly..... What does the current set of fools do....???? Higher medical costs punishable by jail if not taken.... Wants to destroy what's left of the securities market...wants to give the big banks the market maker function....Another BIG Bank income windfall....Wants to tax RETAIL ONLY...Pelosi LIES to the public saying that it is a tax on the banks.....when the opposite is true.... More regulations....even bigger govt....stealing even more apples from fewer and fewer trees..... Spends like a drunken sailor on nonsustainable and inefficient makeshift concepts.... Another endless useless futile war.....that produces nothing sustainable.... Make the roster of govt. employees even longer.... Puts more creedance in the most non qualified set of politcos in US history.....depending on fools who got it wrong....to make it right....none of them have a clue as to what entrepreneurship really is.... Wants to dramatically increase the monthly cost of energy to all that use it.... The list goes on and on and on and on.....ie govt. has enforced a 100% tax by forcing 0% interest rates on savers.....guaranteeing the next wave of STUPIDLY done bubbles.....Overpricing all risks.... WTF is this madness ???????? There is nothing worse than placing nonqualified fools in charge of good assets.... THEY WILL LOSE IT ALL....
With our mountain of debt, huge deficits, joblessness, et al,.... and the Congress running amok on spending like they are, there are 2 logical explanations: 1. THEY already know "it's all going to collapse, and they're getting theirs while the getting is still good", and 2. Obama and his pals are INTENTIONALLY TRYING TO COLLAPSE THE US FINANCIALLY... so that we have to "start over"... and that would mean instituting a new social and economic system/order. Obama's. After all, he DID promise to "radically reform America", did he not? (I can see him in strategy meetings... "Between the sheep and those still waiting for their free ice cream, WE CAN DO ANYTHING WE WANT... they'll never try to stop us. And by the time they finally catch on, it will be too late".) Be prepared for the "New America"... it will be much like the Old Soviet Union before its collapse, like Chavez's Venezuela, Castro's Cuba. WAKE UP AMERICA!!!
There have been recent shows on Discovery Channel and others.. about countries that got themselves into a debt mess and made changes to turn things around... IN EACH CASE.. THE "SOLUTION" WAS (1) REDUCE THE SIZE OF GOVERNMENT, (2) REDUCE OR ELIMINATE DEFICITS, (3) REDUCE INCOME TAXES ON BUSINESS AND CITIZENS... WE (well, our dumbass Congress and President) ARE DOING THE OPPOSITE, PEOPLE!!
When 50% plus 1 of the voters rely on government (state, local & federal) there will be no turning back. Over 50% of the population rely on government. Luckily they don't all vote.
Principles of Austrian economics and what Congress is doing is at polar exremes. It is like living in a parallel universe. There is nothing in common. Americans needs to choose between freedom or becoming slaves of the government. There is not much time left.
40 yrs ago, my substitute history teacher in 7th grade was trying to impart some of his hard won wisdom. He was a WWII combat vet who saw action in Germany near the end of the war. He told us about the National Socialist Workers Party of Germany, aka Nazis. He said it was very important to remember that it was a Religion, with foam-at-the-mouth believers from age 9 to 90, and how they believed they had it right, and the rest of the world was wrong. He even told us about some of the atrocities he'd personally seen in Germany. Needless to say, the class got very quiet. I'll never forget the part where he said "It'll happen again, and it will be here in America. I probably won't live to see it, but most of you in this class will." None of us believed him.