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alstry (34.93)

Keep Saving America

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August 09, 2010 – Comments (2)

Because only the savers will have any money to help pay off the massive debt our politicians are accumulating.......

Just like how the bankers cut off the American homeowner from credit....that same credit they sold you and put into your retirement accounts......

Soon, our free spending politicians are going to get cut off of credit.....and they will be coming after you savers to pay it off.......

Remember, every American is jointly and severally liable for the debts our politicians rack up....and when our politicians get cut off of credit, they will be coming after those with savings to help pay it off......after all, your savings is only valuble if the nation is solvent.

Greenspan Calls For Repeal of All The Bush Tax Cuts 

2 Comments – Post Your Own

#1) On August 09, 2010 at 12:39 PM, davejh23 (< 20) wrote:

Wow..."The problem we now face is the most extraordinary financial crisis that I have ever seen or read about.”

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#2) On August 09, 2010 at 12:50 PM, alstry (34.93) wrote:

The only way to get more money to the government is to get more money to the people and have them spend.....BUT instead credit is being pulled from the private economy....and hence less money is coming to government so government is being forced to borrow to make up the difference.....

Soon bankers will cut off credit to politicians just like they cut off credit to homeowners......at that point EVERYTHING crashes and that is what I call CONCENTRIC CONTRACTION....

Because if you took the total savings, public and private, it is massively insufficient to pay back the debt.....and the ONLY reason the economy is functioning right now is government is borrowing and spending money that doesn't really exist...just like homeowners did when the extracted artificial "equity" out of their homes.

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