Stimulus bills head to conference

[mikecat adjuster]

I wonder. We are 'spending' a lot of money and much of it is borrowed from other coutries like China. What happens when the crooks at the top realize that we've borrowed too much, that we are almost insolvent and that no one will lend any more money for bailouts and socialistic spending programs?

I guess we print a crazy amount of paper to make our debts more managable, then reach out and hand that worthless paper to China and say, "Here you go, we're paying you back with Monopoly Money. I don't think China is going to be too happy to be paid back with worthless paper. I could proceed with this line of reasoning, but suffice it to say we are in a hell of a spiral. I sure wish I were smarter and could realize what to do to position myself better. I damn near want to go live in a tent in the woods to save on rent and wait till thing collapse further. I guess I'd have to go to the library to use the Net and stay up on current events (sowal.com) etc. We'll see. Maybe instead of the woods, a backyard would be better. Anybody have room in their backyard for a tent? Maybe let me keep a few things in your fridge. I have a camp stove.

 

[traderx]

I wonder. We are 'spending' a lot of money and much of it is borrowed from other coutries like China. What happens when the crooks at the top realize that we've borrowed too much, that we are almost insolvent and that no one will lend any more money for bailouts and socialistic spending programs?

China and Japan have little choice. We are the big import country that they export goods to and if the market for our bonds disappears, so does our economy, so does the world economy and everybody goes down the tubes.

The press is our worst enemy in times like these. Periodically, some writer will post a story questioning how long China will continue to buy US bonds. An echo story is about how the US has lost its pretige and is not growing like it used to, that our economic leadership is in jeopardy. It's pure BS. I belong to a couple of boards in which members discuss stock/options/futures trading. I once posted a poll asking members to name the country that is the world's largest economy. A majority said China. Not even close. They had been influenced by irresponisble stories in the press, cleverly written so as to suggest facts that are not true. And these guys trade stocks, many for a living. They should know better. I encourage people to do first-hand research as opposed to relying on the press. If you want to learn about federal gov't receipts and expenses, go to bea.gov. Unemployment stats, bls.gov. And so on.

There is no way we can ever extinguish our budget deficit let alone our debt. We know it and the rest of the world knows it. Nobody likes it but nobody wants to live through the alternative. Sort of an economic MAD policy.

Pass the guns and butter please.