Comments on: American Debt Has Destroyed American Independence

By: Marco

Marco — Tue, 10 Jul 2007 13:38:09 +0000

Whos to say that America has any intentions whatsoever of paying back this ever increasing debt.
Those pulling the strings are all to well aware that Peak Oil and Climate change are destined to change the World as we know it so sqeezing it for every last dollar (borrowed) is a obvious and tactical decision.
Cant beat Mother Nature, only thing thats Infinite in our Finite world is mankinds demand for more.

By: steve

steve — Mon, 09 Jul 2007 22:39:05 +0000

The problem is that the US use to be the worlds foremost oil exporter and was very wealthy. Now, since the US peaked in oil in 1970, the US is the worlds largest oil importer. Thats why it went from the worlds largest creditor nation to the worlds largest debtor nation in that timespan. Peak oil is real people.

By: walt235

walt235 — Fri, 06 Jul 2007 00:12:08 +0000

I see the open borders issue along with the National ID issue as one of the biggest (and contrived) issues of the 2008 election. What better way to control the economy than have a National ID, that can be tracked by anyone in the government (and otherwise) and you can't buy or sell in that economy without it. Sounds very 666, doesn't it!?! Combine that with the push for a North American Union (NAU) with the USA, Canada and Mexico entering into one economic entity. A crash comes, a new currency is coined the "Amero" and old debt is simply written off and forgotten as mistakes "of the old regieme!" Coming soon to a USA near you!

By: NewTV.com

NewTV.com — Thu, 05 Jul 2007 21:38:15 +0000

Frankly, I am stunned at how few people have taken ANY action to protect themselves from a declining dollar.

The average American does not own any silver. They own no gold. They do not own resource stocks, and they have far more debt than reserves.

For the last 4-5 years I have very nicely and firmly suggested to friends, family and associates that they buy at least a little gold and silver.

Out of the nearly 100 people I made this case to (with a lot of data, charts and so on), one (1) has heeded the advice.

By: joe

joe — Thu, 05 Jul 2007 20:53:13 +0000

No good jobs are being created and that is the whole basic global problem. I can think of one project which is to bring LNG back from Titan in trains of huge bladders but humans are simply too stupid to see what a good idea it is, along with numerous others. Then there are those like Bill Bonner who do nothing but make fun of people while not producing a single thing of any tangible value to this planet.

By: Alan Cohn

Alan Cohn — Thu, 05 Jul 2007 20:27:12 +0000

This scenerio is chilling to say the least. Economists have been warning of higher consumer debt for decades and yet nothing much has been done to slow it down. The debt of the government just compounds the problem.

Has anyone wondered what would happen if the countries holding the majority of U.S. dollars were to suddenly start spending it instead of holding it such as what China does to prop up sales to the U.S.? As of now as I understand, much of our excess dollars are held not spent back into the market.

If that happened, the price of U.S. goods abroad would drop and more U.S. goods would be desired worldwide. The problem is that we have lost much of our ability to produce enough to take advantage of the situation.

The real problem would be the rise in cost of goods from abroad which we count on so heavily. Because of our short term inability to produce domestically, there could be real shortages of a variety of things we count on for our daily existence.

China just recently cut it't tax credits to many of it's manufacturers from 15% to around 8% I am not aware of how much this will effect the whole of thier production and the costs thereof to the U.S. but I just don't think the majority of us can really afford the effects of this situation.

I, for one, am bracing for the backlash of this latest move along with other possible changes in the way the foreign countries treat the possesion of U.S. dollars.

Does anyone have any additional input into this possible crisis?

Alan

By: TSGordon

TSGordon — Thu, 05 Jul 2007 07:15:23 +0000

Bonner loosely claims we're not indebted to the Queen anymore, but I can't get far enough away from the mouse lately to buy into this. London/Rothschild, etc. seems to be much in control of everything. And while it's fun to imagine our coming melt-down as a remake of some B&W classic depression-era movie, the coming firestorm will doubtless reverberate in Sydney too. Actually, it's the 54 votes carried by the Crown in the UN that disturbs me, coupled with a police-state mentality, and the ongoing power-play with Pounds Sterling against the Euro. So, my question from here is where do the Ozzy's fit in, vis-a-vie their thwarted claim to 'independence' back in Y2K?