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It is important because the number will give an idea of whether or not Congress plans to seriously balance the budget anytime soon. If it is too high, then maybe the dollar will drop farther in response.

Any pool on how much they will raise the debt ceiling? I would normally say up to 15T so they wont have to raise it until 2011 as next year is an election year. But since all Republican senators will probably oppose any increase, I will say 14.5T. Any other guesses?

With all of these new regulations Congress is proposing, the stack of books needed to explain how to trade legally could soon look like the tax code.

After watching this, the conclusion drawn is that Moore wants regular American people to realize that with their vote they can really influence how things happen in Washington. However, since Ross Perot's campaign imploded in the early 1990s, there have only been two parties to choose from...

The US actually became a debtor nation a few years into Reagan's reign, believe it or not. We are still paying interest on all the debt he ran up almost 30 years ago.

History says wars on two fronts are hard to win. But Bush had to try anyway...

Lol, Volcker used massive deficit spending, of which not a cent was ever paid for, to create the boom times of the early 80's under Reagan. There is no such thing as a free lunch.

It's definitely true that China and some oil producers have their currencies pegged to ours, which is why gold (the real measure of inflation) is up so much since 2000 while prices have been growing at a slower rate. The question is at what point is it not worth it for these countries to...

I hope people realize the math behind why the Fed can't raise rates with unemployment high ( low tax revenues). These numbers might not be exact, but they are in the ballpark: The US is currently paying ~ 300billion per year interest on ~ 12trillion of debt with the Fed rate near 0%. The...

Well ,lilduck, judging from the plume mission results today, if NASA was firing that gold to the moon, you would need to look elsewhere for it. Like Mars or Jupiter.

I think the aliens shot it down, lol. Check out the Deep Impact mission from 2005 for a hit on a space object with great fireworks.

Tax cuts and deregulation are the path to huge deficits and debts and businesses that constantly need to be bailed out when their extravagant new ideas to make money implode, as they always do.

Well, I'm benefitting too. This one gold miner I own is up over 60% since I bought it. We will see if this rally holds... One issue is that Fed banks are asking for rates to rise.

S200 - I might be stating the obvious, but the gov't will never acknowledge any impending collapse of any sort. Why? So Gov't officials, politicians, their wealthy friends, business partners, and donors can get their money out first, and perhaps reinvest it in something worthwhile, before the...

I'll be specific: The US does not want to lose the dollar as the reserve currency anytime soon. The US will strongly oppose the UN in this regard.

AMT - I've heard a lot of posters suggest the US wants to lose reserve curency status. Can you give me a link to the article you read where a US govt official states that? Thanks.

The US has more gold than the other countries, at least on paper, so hopefully that will lessen the trauma from any shift away from the dollar. As I may have stated in earlier posts, the enabler for this mess we are now in was Nixon's complete removal of the dollar from the gold standard...

The interesting part is having part of the basket as gold. I wonder if the percentge of the basket that is gold will adjust up when one or more of the fiat currencies, as they must, begin to lose substantial value against the other currencies. I guess the other countries sniffed out the...

Does he take into account that Social Security is already insolvent (paying out more than it takes in)? The "trust fund" is just a bunch of California style IOUs with nothing but faith and credit backing them.

Cause and effect : manufacturing jobs by the 10's of millions allowed to be sent overseas = the video you just saw.