Reposting liberal propaganda won't make it true. The borrower is servant to the lender
Depends on how much you owe them.
You owe them a million, they own you.
You owe them a trillion, you own them.
posted on 10/30/2011 10:30:03 AM PDT
by Las Vegas Ron
(Rush Limbaugh = the Beethoven of talk radio)
To: Las Vegas Ron
Depends on how much you owe them. You owe them a million, they own you. You owe them a trillion, you own them.
No, there's no logic to that. If you owe them a trillion, they own you a billion times more than when you owed them a million. No such thing has ever worked in history and it won't work now. They have the strategic industry while we're back to pre-independence dependence and are stuck with insurmountable trade deficits. China's hacking our defense computers daily, so trying to fight our way out of it wouldn't be a simple matter either. There is a way to fix it, but it may be that the US is too socially liberal (and too deluded to admit it) to seek that solution.
posted on 10/30/2011 10:37:13 AM PDT
To: Las Vegas Ron
"You owe them a trillion, you own them."
If you owe a bank a trillion, the bank is closed. The debt is repudiated by then. The bank's gone, and you're broke. Same with a large country owing 100s of trillions. Repudiated and broke, with no one else doing business with it.
Or you could buy some Greek bonds now to put your hypothesis to the test. Your money will be gone before long, and the Greeks will continue to live like southern European Iberians. Having spent the money, they won't own you or anything else.
Our USA is going through its default process now and will eventually repudiate all or some of the debt. This is due to the anti-American globalism in business. It was brought to us by vain, reprobate citizens of the world.
Manufacturing and agriculture provide sustainable revenues. Manufacturing with abundant natural resources (commodities) are necessary for wealth (see predominantly agricultural economies). A small manufacturing base with a huge government and policies to prevent domestic competition from rising (e.g., rural zoning against small manufacturing starts) is a combination that won't work. Citizens of the world are stale business families that are incompetent for administering manufacturing (see famines, venereal diseases, etc., of Renaissance).
posted on 10/30/2011 11:15:53 AM PDT
("Dry land is not just our destination, it is our destiny!" --Deacon character, "Waterworld")
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