the fed and the banks have made money too cheap for too long leading to a bubble and burst economy. meanwhile our real economic engine of manufacturing has crumbled away and been replaced by a consumer driven economy of increasing debt both on an individual level and on a national level. this has been able to go on for so long because we fooled the world into thinking that we were a safe bet and they were willing to buy up our debt in the form of our bonds. meanwhile our government has used this deficit spending to grow themselves exponentially. this game is coming to an end as other countries cut back on buying our bonds so now we have two options. 1) we can stop running deficit spending and start to pay down our debt (much like what americans have begun doing on an individual level), 2) the fed can run the printing press to buy up our bonds in order to keep interest rates low. take a guess as to which of these options they are doing. as the fed buys up bonds the value of the dollar is undermined and leads to inflation. the fed hides behind a lagging indicator of inflation which is consumer prices. these are experiencing downward pressure right now as we are in a recession. the fed maintains that they can immediately turn off the faucet as soon as prices start to rise and prevent inflation. this obviously isn't true since by the time you start seeing prices rise, it's already too late. ron paul also mentions the fed buying up the bad debt of the banks... here he is referring the the 13 trillion dollars that were given to banks in exchange for undisclosed assets. the fed does not want to reveal what the assets were for obvious reasons (they aren't worth 13 trillion dollars). ron paul has a bill in the works that would get rid of all the exemptions that the fed currently has as far as audits are concerned. we as a people have the right to know what the fed is doing with regards to monetary policy. i urge everyone to visit this website and find out if your congressman is onboard with ron paul's bill. if they are not, it is your job to let them know how you feel on the issue.
The best way to fix the economy is to approve a sweeping healthcare reform bill that will cost billions and billions of dollars. At the end of the day we would have plunged the country into even more debt but at least we would have created a few more jobs.
ha, eventhough sarcasm is hard to express in this medium adam makes it work. and it's more like trillions and trillions. what comes after trillions anyway?
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Ron Paul for President in 2012!
I need somebody to dumb all that down for me please...
the fed and the banks have made money too cheap for too long leading to a bubble and burst economy. meanwhile our real economic engine of manufacturing has crumbled away and been replaced by a consumer driven economy of increasing debt both on an individual level and on a national level. this has been able to go on for so long because we fooled the world into thinking that we were a safe bet and they were willing to buy up our debt in the form of our bonds. meanwhile our government has used this deficit spending to grow themselves exponentially. this game is coming to an end as other countries cut back on buying our bonds so now we have two options. 1) we can stop running deficit spending and start to pay down our debt (much like what americans have begun doing on an individual level), 2) the fed can run the printing press to buy up our bonds in order to keep interest rates low. take a guess as to which of these options they are doing. as the fed buys up bonds the value of the dollar is undermined and leads to inflation. the fed hides behind a lagging indicator of inflation which is consumer prices. these are experiencing downward pressure right now as we are in a recession. the fed maintains that they can immediately turn off the faucet as soon as prices start to rise and prevent inflation. this obviously isn't true since by the time you start seeing prices rise, it's already too late. ron paul also mentions the fed buying up the bad debt of the banks... here he is referring the the 13 trillion dollars that were given to banks in exchange for undisclosed assets. the fed does not want to reveal what the assets were for obvious reasons (they aren't worth 13 trillion dollars). ron paul has a bill in the works that would get rid of all the exemptions that the fed currently has as far as audits are concerned. we as a people have the right to know what the fed is doing with regards to monetary policy. i urge everyone to visit this website and find out if your congressman is onboard with ron paul's bill. if they are not, it is your job to let them know how you feel on the issue.
The best way to fix the economy is to approve a sweeping healthcare reform bill that will cost billions and billions of dollars. At the end of the day we would have plunged the country into even more debt but at least we would have created a few more jobs.
ha, eventhough sarcasm is hard to express in this medium adam makes it work. and it's more like trillions and trillions. what comes after trillions anyway?
I believe it would be kazillions!
The Democrats answer to everything is to spend, spend, and spend some more.
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