Wake up and smell the crazy...

If we'd had a Democrat, I doubt that we would have started two unnecessary wars, and passed a $750 BILLION unfunded prescription drug bill...It would have been paid for... You know what else would have been paid for?...Allowing Medicare and Medicaid to bargain for cheaper drug prices...and allowing the importation of cheaper drugs from Canada to create some COMPETITION.... Would have saved us Billions...

Please spare me the "Bush was a democrat" bullsh*t....

From the birth of our country, to when Reagan became President, the United States accumulated a total debt of about 1 trillion dollars.

In just the last 30 years, we've accumulated 12 trillion dollars more debt. It's the largest national debt in the history of the world!

Bush was about as close to a democrat as you'll ever see in your lifetime. Aside from the lefty whining about the war in iraq, I don't see where any of his policies were any different than Clinton.

They spent, then they spent, and then they spent some more. Same thing that Obama is doing- except Obama is spending even more. Yes Obama is pulling out of Afganistan before we've killed all those who need killing, but now were in Libya doing the same thing.

Bush did enough compromising - everytime he turned around, he compromised with the left. I complained about it the whole 8 years, but now we have it worse.

I really don't think extending the credit card another 2.5 trillion is going to help the average American, it will kick the can down the road for the big banks and a proped up stock market, but one way or another very soon we are going to see inflation degrade our money - we are going to see hard times.

And how do all the government dependants feel about what Obama said a few days ago- that the checks may not be coming? Get ready folks- we may kick that can down the road yet again for a few more months, but this is why many of us have been warning for years that it's better to be independant of government support.

Do all you lefties still think that everyone who has been stocking up on food and guns and gold are "whacky"? Or are they starting to make more sense now?

Your leader just told you that the money may not be there August 3. Do you have a backup plan if that government check dosn't come? I think it will come, because they will just extend the credit card and keep borrowing the money for those checks, but the real day when those checks stop coming is not far away.

It's better not to depend on anyone but yourself and your family, and possibly good friends- but depending on government has always been a bad idea. Just ask all those Russian senior citizens who just didn't get their checks for 5 years after they went bust.

Were broke- I hope you all have a backup plan. Obama just said he won't be taking care of you all- and that will be the reality very soon.

Over the past 5 years, China has been our biggest lender. They've been more than eager to buy U.S. Treasuries... and have accumulated roughly 1.8 trillion dollars' worth.

But in that time, they've watched us nearly double our national debt ... and raid our own Social Security surplus to feed this debt...

As a result, the dollar has fallen dramatically: 66% (against the Euro) since 2002...

Now, if you're China, and you're lending out trillions of dollars... and if those dollars are falling in value that fast... is there any amount of interest they could add to the deal that would make you feel comfortable enough to keep investing?

Bottom line, China has cut back on the amount of money they lend us. Some folks suspect they may stop altogether. Or, even worse, that they may start unloading some of their US Treasury debt.

That's exactly what PIMCO – the world's largest bond fund – has done. Not only have they stopped buying... but in the past few months, they've also gotten rid of all of their U.S. Treasury holdings.

In other words, they're not lending any more money to a Government determined to destroy the very currency they'd pay you back in...
You see, the Federal Government is stuck in a trap: Unless they want to default on loans, dissolve entire agencies, and watch the economy plunge into Depression, they'll have to continue printing ever-increasing amounts of new money simply to survive.

Here's a bit of talk from Warren Buffett:

http://video.cnbc.com/gallery/?video=3000031948

Martin Ent Inc wrote: From the birth of our country, to when Reagan became President, the United States accumulated a total debt of about 1 trillion dollars.

In just the last 30 years, we've accumulated 12 trillion dollars more debt. It's the largest national debt in the history of the world!

True, but when I was a kid a fairly nice house cost less than $20,000. That same house would be like $400k today. There IS a little thing called inflation driving part of this. And I suspect it will also be the thing that helps to make the problem 'go away'.

BearMtnHIB wrote: I don't see where any of his policies were any different than Clinton.

Their "policies" were very different in one very important respect.

Clinton didn't believe in slashing taxes at the same time he was raising expeditures.

I addressed inflation as todays standard in another topic I think.
Anyway, the secretive bankers at the Federal Reserve have been supplying almost all (roughly 70%) of the demand for U.S. Treasury bonds. The Federal Reserve isn't a 'real' investor – it doesn't have to earn the money it spends. It just prints it up.

Using newly created money to buy government debt is called 'monetizing the debt' by economists. It's almost always a sure sign of a coming hyperinflation. These kinds of maneuvers used to only happen in so-called 'Banana Republics' – countries that would have a new currency crisis every three or four years.

It's the kind of thing most investors believed could never happen in America. And yet... it's been happening here regularly since the financial crisis of 2008.

This process doesn't only create inflation... it also completely destroys the legitimacy of the U.S. Treasury as a responsible borrower. And that will have a very negative impact on our way of life for a long time...


As the National Inflation Association writes:
"U.S. government deficit spending is now directly leading to U.S. inflation that will destroy the standard of living for all Americans."

So we are royally screwd at this time.

Right on Martin.

The poop is about to hit the fan here.

On one of my gun forums we have been talking about and sharing info on where to stock up on food and such.

Anyone notice food prices look the same but the amounts are getting smaller?
The fed is stealing our food supply. I read an article about it somewhere will have to look for it.