Posted on 10/21/2010 3:51:31 PM PDT by mojito
Citizens Against Government Waste has a creative and cutting new ad out. Set in 2030, a Chinese professor discusses why great nations have failed. "America tried to tax and spend itself out of a great recession," the professor says. "Of course we owned most of their debt, so now they work for us." He and his students laugh.
Update: Sources say this is a $1 million ad buy.
ping
That’s racist. /sarc
The thing is, if we do spend our way into much heavier debt to the point where it can not be paid back, it is likely that we will default on the debt. At that point, anyone who holds our debt will take a huge loss. This would be bad for China or any other entity that holds those bonds.
Chilling and funny. Blame the Dems and idiots who watch TV, which empowers the Dems, for the destruction of America.
actually very good - it ridicules the spenders and the 0bama pov
My first thought was putting members of the political class and families into slavery to the Chinese.
The thing is, if we do spend our way into much heavier debt to the point where it can not be paid back, it is likely that we will default on the debt. At that point, anyone who holds our debt will take a huge loss. This would be bad for China or any other entity that holds those bonds.
Why wait. Let’s demand that China raise it’s currency value or we default. If I owe someone a little it’s my problem, if I owe them a lot, it’s their problem.
The 2030AD setting is too optimistic. We don’t have that much time left as an independent nation if we don’t turn this communist devastation around, NOW.
China only owns a quarter of the debt but it is certainly unpayable if we continue to accept interest claims. There is only a question of when, not if, we default.
CAGW is the best source for tracking govt waste online. I visit their site often. Thanks for a great post.
Exactly, we should default now to save the interest.
Another problem with the ad is that it does not really address the problem. We cannot decrease borrowing while under our present interest-driven money system. That would collapse the money supply to cause endless deflationary depression. The only solution is a currency system that does not require massive government debt to operate.
If we are going to default, it would make sense to do so now while we still have a military. Countries that go broke can no longer afford big militaries. If we wait until reaching that condition, creditors will demand and get whatever they want from us. Certainly, the plan is for us and our children to become debt slaves.
Collateral or something almost as good.
We freed up a tub of oil in Iraq for China. Now we have a big pile of natural resources in Afghanistan for them. I suppose we could look the other way when they take final control of Taiwan. Maybe give them a shiny aircraft carrier? Now if the Gov’t can only figure a way to get the titles to all those foreclosed homes they could just sign them over ... etc.
/sarc (or maybe not?)
I don’t watch much TV, but I’ve seen this 3 times on local channels.
Awesome wake up call ad.
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