US is begging to Borrow Money for GM Bailout and More
Timothy Geithner is making an unprecedented trip to China to reassure them that the US remains a good investment. On the heels of Hilary Clinton’s trip the US goes hat in hand to make sure it can keep borrowing money to spend on bailouts, big government and failed Federal systems and polices. It is obvious the US has become a bad investment and our new stock broker – the government – is borrowing trillions to turn around and make loans and investment on our behalf. That is called buying stock and debt on margin. This is the fundamental issue that caused the stock market to crash leading to the Great Depression. If you do not believe this is national security issue, a catastrophe that is happening now all of us are gravely mistaken.
I have said the world is losing confidence in the US ability to support its borrowing and spending and its Treasury instruments and currency. This couldn’t be more evident by our need to go to our Chinese parents to ask for more. It is like Oliver with a money bowl in hand asking for more money. If we don’t continue to borrow more money from the world the US will come to a screeching halt. I can’t imagine the world will continue to allow the US to borrow and spend for everything Obama and other administrations have had their hand out for. It is all coming home to roost now and I believe strongly our entire culture is in jeopardy.
Think about this. We would need $40+ trillion in the bank today to fund Federal programs like Social Security. These programs own a huge percentage of national debt and make Madoff look like a petty criminal. Taking money from the systems we all pay into to spend like wild drunk sailors is by itself criminal at best. Expanding government and investing money for you and me in failed companies and systems has forced us all into a corner and we have no say into how the government is bankrupting itself and us. The financial bailout on one hand was necessary to avoid the collapse of our financial markets. The perpetual bail out of industry after industry and company after company is another issue. I said GM would go bankrupt a while ago and here we are. Do we all think that is a good investment to make? Would you invest in GM? Would you invest in the US? Our US company is so wrecked that I do not believe the capitalist system will survive itself.
Approaching $12 trillion in debt and adding on a deficit of over $1.3 trillion more – that has to be made up by more borrowing – will bring our downfall as this is sure to continue and continue in DC. When is enough – enough? Well it is right now or our officials wouldn’t have to go to China to beg for more money. How we got ourselves into this catastrophe doesn’t matter anymore. What does matter is how in our lifetime we will ever possibly get ourselves out of it. Frankly I don’t see any way the US can possibly avoid being cut off from the world and I see no policies or behavior in DC that will stop that. The banks were cut off from rolling over debt and here the government is caught the same way. If we cannot keep borrowing from the rest of the world what do you think is going to happen? Do you think the stock market will remain stable? Do you really think our government can continue to even operate? Unless radical and aggressive plans are enacted immediately this country, our industries and our way of life will be driven into the ground as we already sit in an economic coffin.
Timothy Geithner is making an unprecedented trip to China to reassure them that the US remains a good investment. On the heels of Hilary Clinton’s trip the US goes hat in hand to make sure it can keep borrowing money to spend on bailouts, big government and failed Federal systems and polices. It is obvious the US has become a bad investment and our new stock broker – the government – is borrowing trillions to turn around and make loans and investment on our behalf. That is called buying stock and debt on margin. This is the fundamental issue that caused the stock market to crash leading to the Great Depression. If you do not believe this is national security issue, a catastrophe that is happening now all of us are gravely mistaken.
I have said the world is losing confidence in the US ability to support its borrowing and spending and its Treasury instruments and currency. This couldn’t be more evident by our need to go to our Chinese parents to ask for more. It is like Oliver with a money bowl in hand asking for more money. If we don’t continue to borrow more money from the world the US will come to a screeching halt. I can’t imagine the world will continue to allow the US to borrow and spend for everything Obama and other administrations have had their hand out for. It is all coming home to roost now and I believe strongly our entire culture is in jeopardy.
Think about this. We would need $40+ trillion in the bank today to fund Federal programs like Social Security. These programs own a huge percentage of national debt and make Madoff look like a petty criminal. Taking money from the systems we all pay into to spend like wild drunk sailors is by itself criminal at best. Expanding government and investing money for you and me in failed companies and systems has forced us all into a corner and we have no say into how the government is bankrupting itself and us. The financial bailout on one hand was necessary to avoid the collapse of our financial markets. The perpetual bail out of industry after industry and company after company is another issue. I said GM would go bankrupt a while ago and here we are. Do we all think that is a good investment to make? Would you invest in GM? Would you invest in the US? Our US company is so wrecked that I do not believe the capitalist system will survive itself.
Approaching $12 trillion in debt and adding on a deficit of over $1.3 trillion more – that has to be made up by more borrowing – will bring our downfall as this is sure to continue and continue in DC. When is enough – enough? Well it is right now or our officials wouldn’t have to go to China to beg for more money. How we got ourselves into this catastrophe doesn’t matter anymore. What does matter is how in our lifetime we will ever possibly get ourselves out of it. Frankly I don’t see any way the US can possibly avoid being cut off from the world and I see no policies or behavior in DC that will stop that. The banks were cut off from rolling over debt and here the government is caught the same way. If we cannot keep borrowing from the rest of the world what do you think is going to happen? Do you think the stock market will remain stable? Do you really think our government can continue to even operate? Unless radical and aggressive plans are enacted immediately this country, our industries and our way of life will be driven into the ground as we already sit in an economic coffin.
No comments:
Post a Comment