America DEBT FREE in 2 years

[Div_Arb]

Why not just default on all of our national debt to foreign countries? They dont call it "credit risk" for no reason, you know!

 

[myminitrading]

Some greedy congressman would screw it up, they would just buy anyone off, after all they can make money out of thin air.

 

[thenewguy]

Quote from dalailama:

1: Pay of debt with debt free US notes issued by the government

2: Abolish fractional reserve lending.. as the debt is paid off raise the reserve requirements of banks to absorb the new money and maintain stability

3: Repeal the Federal Reserve Act and the National Banking Act

4: Withdraw from the IMF, BIS and World Bank

you already know why this will never happen.... would you kill the biggest cash cow in the world if you were profiting from it?

TNG

 

[rcanfiel]

Quote from johnstang:

America has no economy. What does America manufacture? Nothing but military crap. Lowering the interest rate to zero wont replace the broken down factories that are all over the place. America is screwed!!!!

America manufactures twice the dollar value of the second most country, China.

Do your homework. Cars? Jets? Software? Hollywood movies? Agricultural goods? etc etc.?

 

[rcanfiel]

Quote from Div_Arb:

Why not just default on all of our national debt to foreign countries? They dont call it "credit risk" for no reason, you know!

So we can become the next Bolivia or Cuba?

 

[johnstang]

Quote from rcanfiel:

America manufactures twice the dollar value of the second most country, China.

Do your homework. Cars? Jets? Software? Hollywood movies? Agricultural goods? etc etc.?

If it werent for govt bailouts the first two would barely exist. Hollywood movies - come on, thats the best America has to offer? Have you looked at your trade deficit lately?

 

[Daal]

Quote from dalailama:

1: Pay of debt with debt free US notes issued by the government

2: Abolish fractional reserve lending.. as the debt is paid off raise the reserve requirements of banks to absorb the new money and maintain stability

3: Repeal the Federal Reserve Act and the National Banking Act

4: Withdraw from the IMF, BIS and World Bank

as reserve requirements are raised, credit contracts and all the homeowners ,credit card users and companies will be requested to pay back their loans(to raise reserves for the bank), they would be squeezed and they cant possibly pay, this would pretty much set the US in a new great depression. once credit is expanded to this levels you cant just go back, unless its a very slow process

 

[thriftybob]

Remember how we USED to make things ike radios, TV's, washers, dryers, refrigerators, toasters, waffle irons, pots and pans, furniture, clothes, etc?

Well pretty soon I think we will add Autos to the list of things we USED to make. Already most of the parts at Autozone are made in China. It won't be too long before competition forces the automakers to either import all the cars and trucks or go out of business. As volumes drop, cost per unit rises and the effects of fixed costs like healthcare and retiree pensions hurt that much more.

I expect the exodus to continue until we make almost nothing, and then, when the rest of the world gets tired of accumulating our paper IOU's, the dollar will crash, and we just won't be ABLE to AFFORD to buy the imports, and lacking any domestic production ability, we will be forced to do without.

 

[scriabinop23]

Quote from johnstang:

If it werent for govt bailouts the first two would barely exist. Hollywood movies - come on, thats the best America has to offer? Have you looked at your trade deficit lately?

have you seen Transformers?

couldn't resist..

 

[luckyluciano]

I thought Globlalization was all about the U. S. not making stuff anymore?