Plus just the federal government has 17 trillion in debt: thanks for nothing Obama.
120 trillion in unfunded liabilities.
Obama borrows trillions from china so Americans can buy China products and Americans and local governments borrow more in credit cards etc. Gas will be $5 soon . yeah nothing is wrong (sarcasm).
We have massive unsustainable debt so that the dollars we borrow are basically paper IOUS and that's all we are producing damn IOUS.
You ‘d think you'd be better off is someone kept lending you 100,000 $ every year too . Yeah you'd live off that debt and buy many china gadgets with that debt. That's what the U.S. is doing living off debt . that will lead to collapse because we don't produce even the things we use only IOUs.
“10. We don’t need more banking government regulations but less.”
In a perfect world, yes. In the real world, no. Bankers are simply UNABLE to control themselves when it comes to lending other people’s money. It’s sad but true, and goes back to biblical times. I’m all for a free economy, except when it concerns bankers.
The crap that led up to 2008 was no different than the crap that led up to 1929. In both cases bankers lent money that they knew full-well would not get paid back unless property value increases continued to double the rate of inflation, FOREVER. And no, there were no regulations to speak of on bankers in the 1929. In 2008, yes, they were being pushed to lend money to deadbeats, but did they complain about it and speak up. Hell no!!! They just rolled in the dough, knowing that it would all collapse.