There is only one goddess Gaia and Al Gore is her only prophet...
Quote:The US government is not borrowing 3 *to 6* trillion dollars a year. In this last year, which was *extremely* exceptional, the government borrowed just shy of 3 trillion - an act which has never happened before, and will not happen again in the near future.
Your chart is a deception. There is NO way that chart reflects the reality for 2010 and beyond. More people are unemployed than last year, more people are dependent on government than last year, more States budgets are in bigger deficits than last year. And, revenues are still down, the only recovery has been when government has engineered it and then hyped it as in Cash for Clunkers. Hey, the auto companies are showing a profit... The government hand out program ends, and >*poof*< the recovery is over.
Quote:Also, your debt is denominated in US dollars. If you're devaluing, you don't "add" that to the debt - you subtract it, because your debt is shrinking in that exact proportion. The effect is the same as if the government was taxing money, and using it to pay down the debt.
The effect is to tick off China, who happens to be holding a bunch of US Dollars that are shrinking in value. Which is why gold is moving past $1200/oz.
Quote:Afterthought: Millions will die? Now I'm *really* wondering what you're smoking.
We've been over this before. When the US economy is in trouble, so too will Europe, and the third world will be in crisis, civil wars, and starving.
”There are more things in heaven and earth, Horatio, Than are dreamt of in your philosophy." - Hamlet (1.5.167-8), Hamlet to Horatio.

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There is only one goddess Gaia and Al Gore is her only prophet... - by kandrathe - 12-04-2009, 09:11 PM

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