- Education and Science»
Credit and Borrowed Money: Will the Clock Run Out in America in 2013 or 2014?
Do We just Print Money?
If we were to print money in our house, how long would we be allowed to keep spending it?
Like credit, the US is printing money, with our credit standing behind it. BORROWED CREDIT!
When the other countries finally say enough is enough, the US will have to stay within its credit status.
When this happens, the products that we buy will either have to be paid for in Gold, Silver or other precious metal, food, or another type of media or currency.
OIL is one of those things that we buy from other countries..... Buyer beware!!!! This is coming to a halt and will have to soon be dealt with.
Is it a wonder that people are beginning to wonder about the fate of our Country? Occupy Wall Street and financial institutions are in the news and for good reason. People are finding out that we have corrupt politicians, business people and bankers. The citizens are becoming concerned about the future of the United States and the world.
The people are living off borrowed money and time. When the time finally catches up with the known value of the money is fast becoming a reality. The money is shrinking faster with each beating moment and the merchandise, products and commodities are increasing in value and price.
The day is coming and just printing more money is not going to be the answer this time.
In the past, we have borrowed into the future and our future generations will be paying on the interest for years to come. The elimination of the factories and companies in the United States took away any hope of the common person making enough money to compensate for the lack of schooling and upbringing.
The politicians and big business raped this country and transferred the wealth, property and future hope to the filthy rich. They have bailed out the inferior and the corrupt businesses with the hard earned money of the American people. Even with the bail out money, the corrupted and the dishonest officials are taxing the public, the small businesses and the struggling to the point of collapse.
The corruption of the banking system goes on with J.P. Morgan with billions lost. Is there another bail out needed for each and every economic disaster? Do the criminals keep going free and keep giving bonuses to those people who abuse the economic systems?
- What happens if the US defaults? - Telegraph
US businesses, from Wall Street banks to major industrial corporations, are preparing for the unthinkable – a US sovereign default and the loss of its gold-plated AAA credit rating. With August 2 looming, when the US has warned it will run
Borrowing to pay back debt
When can a person borrow money to pay off the debt? The answer is if it benefits that person financially. At no time should a person go in debt just to pay off another debt.
The same goes with the Governments. The governments can not keep going in debt just to pay off the loans and debts that are already on the books. The interest rates are eating up any chance of ever paying off the debt already made.
Almost everyone has to tighten their belts to put food on the table, to pay the utility bills and to struggle to put gas in the tank. The jobs of America has be outsourced to other countries for the sake of the almighty buck. The governments have raised taxes to the point of people moving out because they can not afford to survive any more.
The government is increasing taxes, decreases services, raising the Government's payroll and leaving the average citizen out of the loop. These are the people who pay taxes to support the governments and work to be good tax paying citizens. The governments are becoming so big that the massive weight is crumbling the actual structure that made it great in the first place. The people are the ones that made this country great, not the governments and now, the governments are taking the hard earned money from the citizens so that they can continue with the massive spending programs, giving money to third world programs that could not even care about the U.S. and spending it on the corrupt social welfare programs that have people who are taking money for doing nothing to enhance the country. The governments are sucking the citizens dry of their retirements, their wages, and their finances.
So just does this borrowing upon borrowing stop? It will stop when the Governments go dry and no one will trust them anymore. This may take a revolution or may take the Standard and Poor to down rank the credit status again to let the world know that the government can not be trusted, loaned to or be able to do trade with other countries.