Do you think this country is heading for financial disaster?
asked by Working-At-Home 3 months ago
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SheriSapp says
The way this administration seems to be determined to spend every penny possible--most lent to us from other nations--I am beginning to think it is inevitable.

jlspartz says
There's no doubt. Everyone can do the numbers. How much money is being spent and how much more will be needed to be paid by taxpayers, on top of social security and medicare, on top of what they owe other countries. And now they are reporting a turnaround in the market to get everyone to believe in the market to push it back up (with no financial backing in the actually companies). FYI for those sticking their money in now, when you own stock in a company that goes under, you get nothing back. Everything is on credit with no plans to reduce it. And with more unemployment that means more money being taken out and less being put in. Any currency's strength is based on belief and support in how much value it has, even gold. Without belief, it fails. So what do you think the government is going to try to do?
mmundy55 says
It's already in a financial disaster. Since 911 -- the economy has been spiraling out of control. Billions of dollars in debt and money is no longer backed by pure gold but is just a piece of paper!
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