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June 09, 2009 – Comments (6)

Where on Earth am I going to find $155,000 to pay my share of this growing debt. (see this article)

Not to sound like Alstry here, but if smart folks at opposite ends of the spectrum come together about something of this magnitude, then it appears that we should all be sounding like Alstry.  The fellows in this article are described in much the same manner as matter and anti-matter.  Getting them to come together on anything is bound to be explosive.  The fact that they have come together regarding the very real threat that America's growing debt poses, speaks volumes.

I was sweating the load this weekend when I had to take my aging vehicle in to get a "check engine" light diagnosed and resolved.  Imagine if Uncle Sam dropped you a bill saying please pay to the US Government the sum of $155,000 by the end of the month...or else.

I am thinking that kind of notice would wreck just about everyone's days.  This to me does not sound like we are close to a recovery.  This to me sounds like we may be racing towards something worse than the massive recession we are currently in.

6 Comments – Post Your Own

#1) On June 09, 2009 at 10:42 AM, outoffocus (22.81) wrote:

This money is going to come from my retirement, our childrens retirement, and our children's children's retirement.  We'll all be working for the rest of our lives.

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#2) On June 09, 2009 at 10:45 AM, gmxBatteringRam (29.64) wrote:

The US Gov will default.

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#3) On June 09, 2009 at 10:52 AM, MikeBobulinski (< 20) wrote:

Those are not promising options...makes me wonder how bad things are in other countries that have gone down similar roads with regards to bailing out their financial sectors...

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#4) On June 09, 2009 at 12:16 PM, russiangambit (29.17) wrote:

> Those are not promising options...makes me wonder how bad things are in other countries that have gone down similar roads with regards to bailing out their financial sectors...

I don't think there is another coutry in the world that gave its financial sector hudnreds of billions of dollars with no string attached so that they could recover their losses, and let them hide their losses at the same time.

Japan did something like that. They did let the banks hide the losses but they didn't give the banks trillions of taxpayers money.

This is something a banana republic would do. But an average banana republic cannot borrow trillions from China.

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#5) On June 09, 2009 at 12:25 PM, catoismymotor (38.28) wrote:

I like the idea of making all that I can in the market, selling eveything and moving the family to India before too much money has come out of my pocket to pay for this mess.

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#6) On June 09, 2009 at 4:10 PM, MikeBobulinski (< 20) wrote:

russiangambit...true enough there.  I guess that the banana republic of America will end up going down in history one way or another.  Perhaps we all ask for a bailout...

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