You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
If a small country had a budget deficit of 50%, will their currency devalue soon?
- Thread starter crgarcia
- Start date
What if they repeat over and over that their currency and economy are "strong"?
Supporting the troops is different than supporting the liars, fools, and thieves that sent them there.
Quote from thriftybob:
What if they repeat over and over that their currency and economy are "strong"?
That's always the lie they tell. If they are printing and spending 50% more than they take in taxes, it won't be long before the currency is destroyed and most of its citizens are bankrupt.
America is doing the same... just at a slower pace.
Ummmmm, I think that was the POINT of this thread...
America's federal government *IS* spending 50% more they take in from taxes.
I wonder how many Americans realize that? Starting in 2010 as boomers try to retire its going to get MUCH worse, too unless there are huge spending cuts or huge additional tax levies.
The only thing delaying the dollar's collapse is that there isn't a better alternative because there is no currency left that is both stable and big enough to be used for global trade. That's why the Middle East, Asia, and South America are all working on regional currencies like the Euro. Until they have a reasonable alternative, they are pretty much stuck using dollars, even if it is declining quickly.
America's federal government *IS* spending 50% more they take in from taxes.
I wonder how many Americans realize that? Starting in 2010 as boomers try to retire its going to get MUCH worse, too unless there are huge spending cuts or huge additional tax levies.
The only thing delaying the dollar's collapse is that there isn't a better alternative because there is no currency left that is both stable and big enough to be used for global trade. That's why the Middle East, Asia, and South America are all working on regional currencies like the Euro. Until they have a reasonable alternative, they are pretty much stuck using dollars, even if it is declining quickly.