The Civil War Begins
Does America have the right to consume massively if it doesn't produce near what it consumes? We can only consume if others are willing to accept our currency....and they only accept our currency because of a perceived production behind it......
Our cities, counties and states are bankrupt....but everyone wants to consume.....and everyone wants a job so they can consume and serve the consumers......many of whom are not producing.
If we keep consuming much more than we produce, pretty soon no one will accept our currency and few will be able to consume anything as we are now shutting down the Gulf.
Who gets the right to consume when America is broke?
The Politicians....the Bankers......the Retired.....the Welfare Recipients....the Unemployed....or the people actually doing the producing....the workers themselves?
Gov. Arnold Schwarzenegger on Thursday ordered about 200,000 state workers to be paid the federal minimum wage this month because the state Legislature has not passed a budget, but the state controller is refusing to comply.
WHEN THERE IS NO MONEY...WHO GETS TO CONSUME? WHAT ABOUT WHEN THERE IS LESS AND LESS PRODUCTION BECAUSE THE BANKERS CUT OFF CREDIT TO A CREDIT DEPENDENT CONSUMPTION ECONOMY?
Will America be compelled to force the world to accept our currency so we can continue to print it and consume? I think we are about to find out.....
The dollar plunged today following a United Nations report which called for the greenback to be replaced as the global reserve currency by the International Monetary Fund’s special drawing rights (SDRs).