To My Republican Friends....Truck You????!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
The total savings in America is about $6 Trillion in cash......the non Federal debt is over $30 Trillion.
Much of our savings has other debt as a liability against it (ie...someone with a few hundred thousand of cash in the bank but has a half a million dollar mortgage on their house)
The budget of the US Government will likely exceed $4 Trillion dollars this year factoring the War and banking stimulous plans...much of which was initiated under the Bush Administration.
Tax revenues to our government, municipal, state, and federal is evaporating as obligations are exploding.
UNDER THE BUSH ADMINISTRATION....THE DEBT...YES THE DEBT...OF THE USA DOUBLED....bascially under Bush, the accumulated debt under one administration equaled the combined deficit created by every other Democratic and Republican Presidential administration since the founding of the USA.
And people criticize the Democrats as tax and spend??? I know I do....... But the Republicans are BORROW, CREATE DEBT, and spend. From this perspective...BOTH SUCK!!!!!! The latter just sucks a little harder in the long run.
So next time Republicans criticize an American for spending irresponsibly.....just look at our government...especially the ones Republicans voted into power.
All of our net worth is predicated on the soundness of the dollar....especially the safety of our savings....you know....we measure how rich we are by dollars or IOUs created by the government.
And now the government needs to borrow trillions..... create IOUs(print money) just to keep this Ponzi scheme treading water....
There is only two places the government can get money....borrow it from foreigners or borrow it from Americans......
I have a bunch of Republican buddies that have a bunch of cash in the bank.....what they forget is the cash is really an IOU from the government......and under the last Republican President we created more of them than any president in history....but now the government, its people, and businesses can't pay off those IOUs and we are beginning to realize that the game for the past eight years was really a Ponzi scheme...... simply issuing and ever increasing number of IOUs by ALL that we used to function as a society.
What we have now is a set of laws that will not be effective when few are willing to pay off or accept our IOUs.
If banks and government are unwilling to extend IOUs to people......you think the people are going to accept IOUs from the government or banks???? So next time Republicans criticize those for spending too much, creating too many IOUs....you may want to clean your own house first.
And for those of you that think that bright shiny metal is the answer to all your problems......you think the gas station is going accept a piece of metal as a means of exchange when it has no fuel to fill your tank????
Gold is only valuble if people perceive it as valuble.......it is a piece of metal that we dig out of the ground. When times become uncertain.....may people look to metal as a safe havan????.....it is very possible...but it is possible that government will prohibit such behavior.
I am on the fence and have no problem suggesting that metal may not be a bad choice as a place to store some value....but there is a strong possibilty it may not be the solution as well.
Very interesting times indeed. We are all broke at the same time........those that think they have money are simply holding IOUs that may never be able to pay off......
That said.....it is still my perspective to believe in the USA.....and if we take the right course of action....the dollar will hold its value and we will emerge from this mess stronger than ever.
(Please take the title in the spirit of the intended humor.....this was not intended to be a partisan post...I myself am agnostic.......we have been let down by both sides of the fence....it is just now time to wake up EVERYBODY. We are going into very stressful times...you better be able to maintain your sense of humor)