Question, US Government files for Bankruptcy?

[jeninflorida]

(this is a question)
Well the next big bail out will be the banks. One number that gets tossed out there is three trillion dollars to help shore up City, and BofA (and several others). So what if the stimulus doesn’t work…how much more money can the government borrow? Can the government get to a point where there is no money left to borrow?

 

[JAMESBJOHNSON]

We're already there.

The government is spending future tax revenues NOW, that is, theyre using social security funds that must be paid back or you cant retire. So that money is bye bye. The banks have no money to lend otherwise we wouldnt be bailing them out.

That leaves the printing press.

The economy is deflating because of the foreclosure disaster and unemployment. So Obama figures he can print worthless money to cover government debt. He calculates that the inflationary worthless money will neutralize the deflation, but its the worst of both worlds because the money will create goods & services no one wants plus increase the prices of goods and services people do want.

North Korea does the same thing. The government actually employees pretend students, pretend shoppers, pretend soldiers, etc.

 

[DesertPirate]

(this is a question)
Well the next big bail out will be the banks. One number that gets tossed out there is three trillion dollars to help shore up City, and BofA (and several others). So what if the stimulus doesn’t work…how much more money can the government borrow? Can the government get to a point where there is no money left to borrow?

The thoughts of those in power are that it is good as long as they control the printing presses
There will be a reckoning!

 

[jeninflorida]

And we will become like Germany after WWI when it took a wheel barrel of paper money to purchase a loaf of bread?

The thoughts of those in power are that it is good as long as they control the printing presses
There will be a reckoning!