It’s Still the Currency, Stupid

That’s right, folks, it’s not strictly the economy. We started this brand new fiscal year with a $400 billion deficit, then tacked on a quick extra trillion to help those who’d helped themselves to plenty of their investors’ money. Eventually we will reach the tipping point, where we can’t wholsale our debt to anyone – the Chinese, Gulf nations, ANYONE. Then the full faith and credit of the United States will become less full, and we will be screwed. Congress has no solutions that aren’t based on debt, nor do either of the presidential candidates. This could be a heck of a ride. If we had to live within a budget, Congress couldn’t buy fellow legislators’ votes with earmarks. Then we would experience what it’s like to live in a banana republic, but without the advantage of all that nice warm weather (sigh).

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: