More disturbing news. The following are quotes:
"The housing slowdown merits close attention because it may have more serious consequences than were first believed. New numbers from Moody's indicate a whopping 9.8% of all U.S. workers can trace their livelihoods to the housing market. Since 2002, nearly 40% of all newly-created jobs were in industries related to housing."
"...offshore interests also purchased 51% the U.S. government's publicly traded debt."
"...consider a small-scale example. If a person goes to a foreign car dealer and makes a $30,000 purchase, he expects to suffer the loss of his money. But imagine what would happen if the dealer sends him home with both the car and his money with the stipulation that he, or his children, can pay it back at some distant point in the future? Our car buyer would probably feel pretty flush, and would be tempted to spend the $30,000 on something else."
"...economists agree the U.S. is in hock so deeply we can't possibly pay our obligations at full value. The only solution is to significantly devalue our currency, primarily through inflation."
"...Inflation spikes are especially common during postwar periods. During the war, the government borrows whatever amount of money it needs to get the job done. Afterwards, inflation permits Uncle Sam to pay everybody back at a discount. We saw the "inflation solution" most recently after the Vietnam War ended in 1975."
And visit www.ntu.org and see how Uncle Sam REALLY spends your money!
No comments:
Post a Comment