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Looks like the great orator will be ordering littly Timmy to fire up the printing presses once again................
WASHINGTON (AFP) - President Barack Obama said the United States was ready to help Europe solve its fiscal problems on Monday, following a summit with European Union leaders dominated by the euro zone crisis.
'The United States stands ready to do our part to help them resolve this issue,' Mr Obama said after hosting EU representatives at the White House, stressing the potential for a European fiscal disaster to crash upon US shores.
Looks like the great orator will be ordering littly Timmy to fire up the printing presses once again................
WASHINGTON (AFP) - President Barack Obama said the United States was ready to help Europe solve its fiscal problems on Monday, following a summit with European Union leaders dominated by the euro zone crisis.
'The United States stands ready to do our part to help them resolve this issue,' Mr Obama said after hosting EU representatives at the White House, stressing the potential for a European fiscal disaster to crash upon US shores.
So is anyone going to ask about who is owed anytime soon? Then we can figure out why they are owed. You will probably discoverer many of them should never have been owed in the first place. Who are these folks that the entire world owes. Answer that and you may learn something about debt just being a kind of fiction. The trouble is all in the book keeping. If we had 100 trillion gold discovered, we could move it from the hole we found it in to the hole the creditors want it, and it would all be solved by writing that down in the book. Moving the right yellow bricks from one hole to another would do it.
And debt Jubilees existed for a reason. Debts grow geometrically while the real economy is a linear relationship. Capital-monetatist systems have about a 50 year life span until it can no longer scale.
Its pretty simple. There comes a point where the economy cannot pay more debt while maintaining growth. Thus the problem is paying the debt will actually lower the value of the principle of the loan since its destroying its ability to pay. Its like donating a little blood every week instead of donating enough to kill the donor.
It always happens and it always will with this ancient system. The central banks just delay and buffer it but death by debt is an economic law. Debt that can't be paid, will not be paid. Its time to wipe it off the books.
We're bailing out Europe folks. This was decided months ago, I'm sure. The only thing left to do now is to figure out how to sell this and make it fly. It's sad that some people think that this is all Obama, as if McCain, Romney, Gingrich, Hillary Clinton, etc. wouldn't do the exact same thing.
This is why I, a liberal Democrat with little conservative leanings, will vote for Ron Paul if he gets the nomination. This insanity needs to stop. Ron Paul is the only one who will completely reverse the way we do business.
If his plan sucks, and the world catches on fire, so be it. His administration will only be four years. We can go back to business as usual when he's done. However, I think we owe it to our children to at least TRY liberty as it was intended.
This is of huge importance to our economy. If Europe is contracting, or if Europe is having difficulties, then it's much more difficult for us to create good jobs here at home
I didn't realize that we were dependant on foreign countries to create good jobs in the US. Here he is pointing his finger at foreign countries as being a (another?) reason for the lack of job creation in the US. I thought that he and his administration were going to take care of job creation. Doesn't he know that every time he points his finger, there are three pointing back at him??? Just how many jobs were created in the US before the European collapse? How many jobs in the US were lost as a result of the collapse?
We're bailing out Europe folks. This was decided months ago, I'm sure. The only thing left to do now is to figure out how to sell this and make it fly. It's sad that some people think that this is all Obama, as if McCain, Romney, Gingrich, Hillary Clinton, etc. wouldn't do the exact same thing.
This is why I, a liberal Democrat with little conservative leanings, will vote for Ron Paul if he gets the nomination. This insanity needs to stop. Ron Paul is the only one who will completely reverse the way we do business.
If his plan sucks, and the world catches on fire, so be it. His administration will only be four years. We can go back to business as usual when he's done. However, I think we owe it to our children to at least TRY liberty as it was intended.
The question becomes why are we bailing out Europe?? It's not because we're being nice that's for sure. All these crooked banks that we've already bailed out are heavily invested in EU. Basically made bets and seven's keep coming up on the crap table. Trillions in unfunded liabilities sitting on the table. If europe goes down so do half the financial institutions in the US maybe more. That is why the Frank/Dodd legislation was a joke it did nothing to control the derivative market. The banks have paid off the politicians and both have sold the citizens down the river. Kicking the can down the road past the next election is the only goal now. Keep it together until then so Obama can become King and when the riots start declare martial law and rule as he deems necessary.
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