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  Topic: America Should Declare
Bankruptcy: Doug Casey
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America Should Declare
Bankruptcy: Doug Casey

Yahoo! Finance, by Lauren Lyster

Original Article

Posted By:NorthernDog, 1/18/2013 10:25:28 PM

This week started with President Obama Monday demanding lawmakers raise the U.S.’s $16.4 trillion debt ceiling, warning Republicans not to insist on spending cuts in return. The same day, Federal Reserve Chairman Ben Bernanke advocated getting rid of the debt limit altogether. The Washington Post reports in a conversation at the University of Michigan Bernanke said the debt ceiling has only “symbolic value.” (Snip) Two former U.S. government officials put the federal government’s actual liabilities in excess of $86.8 trillion, or 550% of GDP, in a Wall Street Journal Op-Ed. Casey argues we’re

Comments:
We have entered the death spiral, but 51% think it´s just a fun ride.

      


Post Reply  

Reply 1 - Posted by: stablemoney, 1/18/2013 10:45:52 PM     (No. 9125626)

I would like to keep the debt ceiling and get rid of Bernanke. The man is ignorant, ugly, and not popular, so why keep him around?

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Reply 2 - Posted by: Topic Thunder, 1/18/2013 10:55:15 PM     (No. 9125644)

We will. It´s been done before. Nixon in August 1971 devalued the dollar by 10%. That´s how nations declare bankruptcy, they devalue their currency.

This time the devaluation will be 90%.
We will then enter our major depression from which there will be no escape.

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Reply 3 - Posted by: Charactercounts, 1/19/2013 2:33:35 AM     (No. 9125764)

Bankruptcy? But the talking heads on the business shows say the stock market is doing so well, they can´t understand why people aren´t investing!

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Reply 4 - Posted by: Trigger2, 1/19/2013 4:54:26 AM     (No. 9125810)

I smell a grab for 401(k)´s.

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Reply 5 - Posted by: Spidey, 1/19/2013 5:49:38 AM     (No. 9125846)

Bernake´s a hapless stooge who´s in way over his head.But in fairness to him,he´s probably been bullied by obama into making bad fed policy and inventing new ways to print money.

I don´t get the stock market at all.I guess GE had a big 4th quarter but what company wouldn´t with free government money,loopholes,deductions and circumventing paying US taxes.One of the biggest move jobs to China companies right under Obama´s nose.

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