ced5a5f5e9 That means Uncle Sam is simply going deeper into debt, and the only way were going to pay off our current loans is by borrowing again.How do we get away with this? Why does anyone lend us money when they know were only going to pay it back by borrowing, and that were going to pay it back with dollars that are worth less than they are today?We get away with it because the dollar is considered the reserve currency of the world. 1694). Shopping is good for the country. It takes the listener through history arriving at our current state of the economy and our country on a whole. If you keep replacing one bubble with another, you eventually run out of suds. The tax credits and handouts draw rational businessmen to invest in technologies that dont really add value. How America Could Have Avoided the Coming Crash 6. Our government borrows by selling T-bills and Treasury bonds, or Treasuries. 1715-40). The government has used this borrowed money to establish social programs (such as Social Security and Medicare), and, more recently, bailout packages for failing businesses and entire industries.
governmenthold in aggregate $17 trillion in IOUs. Cancel Thank you. Easy money, rising tax rates, and unbridled debt are a prescription for economic disaster. Persuasively argued and provocative, The Real Crash explains how we got into this mess, how we might get out of it, and what happens if we dont. A decade before, capital investment was $965 billion out of a gross domestic product3 of $9.4 trillion. Among them, he advocates abolishing the payroll tax that pays for Medicare and Social Security, repealing the minimum wage, killing unemployment insurance "to allow wages to fall," eliminating the FDIC and getting rid of other regulatory bodies or making them "optional." The author insists that "lower wages" would mean a better quality of life, and he proposes long-term changes as these shock-therapy quick fixes take hold, directing his fire against primary education and the college system, which for the most part "wastes everyone's time and money." Schiff consistently claims that to secure protection against the disasters looming ahead from debt growth and dollar devaluation, the need is for "shorting the U.S. He offers real understandings and real solutions that if we are honest with ourselves, we know we must do.
Arihjed replied
419 weeks ago