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Our Debt Crisis: It Can't Be Fixed

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  • Our Debt Crisis: It Can't Be Fixed

    Just yesterday Bernanke decided to buy $40 Billion of mortgage securities each month until the job market improves. Where is he getting that money? The Stock market jumped, as did the price of gold. Today Egan Jones Credit Rating Agency downgraded US debt from AA to AA-. We had a AAA rating at the beginning of the Obama Administration. We have slipped from the top of the Global Competitiveness Index Rating in '08-'09 to number 7. Do we really need a third stimulus of borrowed money? The value of our dollar is going to suffer, oil prices will rise, and then watch food and other necessity item costs increase. How soon will inflation approach double digits? Sounds a lot like the Jimmy Carter years doesn't it?

    This has been around, but is worth watching again. It is a non-partisan video produced by an accountant, Hal Mason, retired after 27 years with IBM. He looks at the budget, its revenues and expenses, and very simply illustrates the problem. Amazingly, we get all the media talking heads blathering and shouting for hours and never get clarity.

    This guy does it in a couple minutes.

    http://www.youtube-nocookie.com/embed/EW5IdwltaAc?rel=0

    wlnf

  • #2
    Re: Our Debt Crisis: It Can't Be Fixed

    Good video WLNF. There is no way to find out, but it would be interesting to try and find an actual number of people that care about this sort of thing. They may soon, all care; a whole lot.



    Issachar
    The church is on Earth to save souls from a lost world, not to save the world from lost souls.

    Man learns about history, not from history. To learn from history requires wisdom. Cut off from God, he has none, so history repeats; no new thing under the sun.

    I saw ten thousand talkers whose tongues were all broken - dylan

    Psalms 122:8 For my brethren and companions' sakes, I will now say, Peace be within thee.

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