[blam]

"It has now reached the point where this debt can never be repaid..."

I'm in agreement.

Most of my old buddies (60's +) say there's no peaceful way back from here.

[blam]

Interview With Marc Faber: It Is Not A Matter Of If With Hyperinflation, But When

[preacher]

“QE2 in round trillions” by Ambrose Evans-Pritchard

http://preview.tinyurl.com/29jo2cq

[phockthis]

sfl

[wita]

Most of my old buddies (60’s +) say there’s no peaceful way back from here.

Especially not since every bit of legislation that has gone toward dividing the American people from their hard earned money, has also gone into dividing the American people into groups of supposed haves and have nots, that will be at each others throats when the bust comes.

When only half of the folks pay income taxes, the half that doesn’t isn’t going to like it when the half that does, gets tired of supporting the half that doesn’t.

Oh there is more, much, much, more.

[Diana in Wisconsin]

I had to read all of THAT to get to THIS?

“If you think this is impossible, you are correct.”

We are in a world of hurt, aren’t we?

[familyop]

"- The futile war on drugs. Eliminate all drug laws..."

Drug abuse was virtually eradicated during the 1930s, after so many working class daughters were addicted, bought and sold in slavery for nearly a couple of decades (the liberaltarian-progressive teens and twenties). The US government stepped on drug dealers and their money-front friends in big business in order to keep the general populace from lynching them all. Drugs are tools of slavery.

Centralized government is government by tyrants, whether under communism, monarchy or fascism. As for the government defaults, those will happen. Nearly all of the non-productive employees getting large incomes are getting them from government or government-dependent corporations.

Welcome the small government that will come after the default. Manufacturing, previously outlawed for mere commoners (zoning ordinances/laws, regulations by false environmentalists, the divorce/cohabitation/feminism regimes) may commence after the default.

[Toddsterpatriot]

The next set of bailouts could run $30 trillion (as I'll explain in a bit)

Did he ever explain? I didn't see it.

[hinckley buzzard]

(gold and silver would freely circulate alongside government issued paper money)

Guess this guy never heard of Gresham's law.

[darth]

Thank you for your excellent posting of economic articles.

When the Crash happened, I said to my friends, “They will try to inflate their way out of this. Inflation has been used before to solve debt crises.” However, this time the massive entitlements problem combined with the demographic bomb make inflating our way out nearly impossible.

I also think that trying to push individual program reforms through Congress will fail. Too many vested interests who will fight to the death.

I will advance my idea again of how the USA can fix the staggering debt problem:

DECLARE NATIONAL CHAPTER 13 BANKRUPTCY AND APPOINT AN ALL-POWERFUL JUDGE TO DISCHARGE IT!

1. Pass a law (simple majority in Congress) to declare national bankruptcy.

2. The Bankruptcy Judge and his Trustees make all the decisions and kill all the sacred cows. Small Biz Administration, farm price supports, County Agents, Dept. of Education, National Public Radio, National Endowment for the Arts, unneeded military bases, numerous commissions, subsidies, grants, etc. would come under the knife or be eliminated. A million leftist GS14s would have to go flip burgers for a living using their liberal arts degrees.

3. Cut entitlements. Advance the age for collecting Social Security and Medicare. Re-examine every person on SSI Disability and make them prove they are disabled. Make it a priority to send sick illegal aliens back to their country of origin for medical care (off Medicaid). Cut Congressional pensions to ZERO since they got us into this mess. Cut Presidential pensions to zero. Cut civil service pensions to what the lowest GS4 gets.

4. Eliminate contracts. No government unions will be recognized.

5. Lay off 80-90% of all federal workers. Contract out every function that can be privatized.

6. Sell assets. GM/Chrysler stock, mortgages held by Fannie & Freddie, BLM land, some national forests, federal buildiings, mineral rights including offshore. All proceeds must be used to PAY DOWN THE NATIONAL DEBT.

How’s that for a start?