U.S. being undermined by its reliance on debt
Our government’s answer to recover from this invisible depression we are in is to create an economy based on the idea that debt has value.
Politicians are having a buffet in Washington, D.C. in this newly acquired concept of “equity.” We do not have the means with which to repay this acquired debt, or at least the powers that be do not want us to simply print enough $100 bills and ship them over.
Who is benefiting the most by our need to borrow? Who is acquiring our IOUs knowing that our paper has no backing and is based on debt? Perhaps we will have to surrender our protective stance concerning Taiwan, South Korea or even Israel.
I do not have a belief system of paranoia nor do I want to debate prophetic new world order scenarios. Am I the only person who sees our economy being manipulated and undermined? We have sold capitalism and bought in on socialism. We need patriots to run our government, not people who sell the future for pennies with no regard for the price.
My daughter got into credit card debt. I took the card away. Now she has a chance. Do we?
Jerry Snow
McLeansville
Comments (3)
To report abuse of the comment feature on this site, please use the feedback form at the bottom of any page.
"We have sold capitalism and bought in on socialism. We need patriots to run our government, not people who sell the future for pennies with no regard for the price."
I do not think you will find much argument about the above .. historical debate will center around issue "where did it start" while the bulk of our time and energy should be around "what's we gonna do now".
Posted on December 31, 2008 5:42 AM
why should an institution, such as Congress, be concerned about a cult it midwifed to create incumbents, such as the Fed, be concerned about a debt which it has no intention of repaying? 3 trillion or 6 trillion...so what? theyre paid for life. they will always have a long line of gulls who will proudly wear their "i voted" stickers. there are a few who never took their salary or benefits, but those are the exception and not very popular outside of their district. their own party continually tries to run candidates against them even though they have a 70% approval in their district.
Posted on December 31, 2008 6:08 AM
Question: "My daughter got into credit card debt. I took the card away. Now she has a chance. Do we?"
Answer: No.
Posted on December 31, 2008 8:21 AM