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That is fine until the dollar is no longer the safe haven. And between the virus, poor economy, protests and turmoil and the sorry two choice for POTUS that could be sooner than we think.
There is no other currency nearly as safe or as large to replace the USD in the world. Nothing close as I've already been saying for a generation. And the Yuan has barely moved.
But OP, debts and deficits don't matter! We can keep running them up with no consequences whatsoever, can't we?
That is what most people think who don't understand macroeconomics. For every dollar of monopoly money we print, the rest of the money in circulation is worth a wee bit less.
What is Monopoly money? Its also called fiat money. Our money is no longer 100% backed by gold, probably not 50% backed...I'm not sure...maybe 5% backed. That is why Ron Paul and Rand want the Fed audited, and Fort Knox too. When money is not backed by a tangible asset, its fiat money...based upon a promise to pay the bearer. Our promise to pay any bearer today is weaker than Obama's promise of keeping your doctors & plans, and healthcare costing less.
I read a few years ago that a Dollar is really worth 30 cents, and that was before we racked up $30T in debt.
Fewer are willing to buy our debt today, with interest rates being so low, and the return being better in stocks, real estate, & commodities. Why do you think huge corporations are buying thousands of rental properties? Rental properties are a PainInThaAzz, but its their only way to get a decent return on their investment.
Anyways, I've already lost nearly every reader of this post, so let me close by saying we are all so scrued right now, you wouldn't believe it, if you knew, what I know.
Every other topic discussed would have the weight of a grain of sand. Covid-19, racism, Dems vs. Pubs...not even worthy distractions from what hangs over us all.
Last edited by beach43ofus; 07-12-2020 at 07:17 PM..
Rand Paul is another republican weirdo. They all act like they care about the debt until their party is in office.. look how your dear leader (Trump) spends. He has taken advantage of taxpayers since he’s been in office and golfs twice as much as Obama ever did.
The topic is not Trump...he's a lost cause...they all are except the pretend Republican weirdo. Einstein was a weirdo, so was Steve Jobs, and so is Bill Gates. Have you seen what Elon Musk named his kid?
Rand isn't a Republican, he's hiding out in the Republican party, but they hate him. He's trying a different route than his Dad took, w/o much better results...thus far. He's an outcast.
If you think president's golfing matters, I probably can't help you to comprehend what is at stake, but I'm not giving up on you though. Rand Paul needs 100,000,000 votes, and right now he has about 6. You'd be 7.
To help you focus on the magnitude of this, close your eyes, & pretend Washington DC was swallowed up by a huge sinkhole, and no politicians survived. No more Red vs. Blue.
Once you can get to that point, you can begin to think about where we are really at. Then start reading about the debt, and the budget, an the experts projections. Imagine a sinkhole so large, it swallows up every dollar America has, or can borrow.
Now you have a grasp of the interest on our debt. This problem makes Red vs. Blue look like a playground tussle.
...sorry folks..but to think there's anyone out there in politics that is going to right all the wrongs, pay all the debt, be the champion of whatever inequities you want fixed, make all things good again, you are incredibly naive...but ...if it gives you comfort, by all means continue to look for such a 'savior'...
I already found the savior, the problem is I'm a million votes light.
I've got mine, so I can weather nearly anything that comes along, but 98% of Americans can't.
I prefer not to be stuck with the top 2% for eternity.
He's a bit odd, but he's a fine family man, and follows our laws. His income is the lowest of all 535 congressman, because he won't take bribes, or kickbacks.
Please dig up some real verifiable dirt on him, and get back to us....with links.
Tell me who you think is more honest, more law abiding, and has a better proven track record of fiscal responsibility in Washington DC than Rand Paul.
I agree that the deficit is our biggest problem, long-term. I also agree that Rand Paul is one of very few in Congress who seems to want to do anything about it. He's not my favorite politician, but would be miles better than our current POTUS.
I don't think anyone is going to win by write-in. You should have nominated him in 2016.
Tha path to deficit reduction was laid out by the Simpson-Bowles Commission in 2010. That plan included $2 of spending cuts for every $1 in revenue increases. Lower tax rates and broaden the tax base by eliminating loopholes. Raise the Social Security retirement age and remove the income cap on the payroll tax. Reduce farm subsidies. Move to the Chained CPI for inflation adjusted benefits. The Simpson-Bowles plan went nowhere.
Of course it went nowhere. The public is grossly misinformed (by design) of the mainstream media, and politicians who dummy down the schools.
Most American don't give a flying leap about our impending fiscal doom because thy've heard about it their entire lives, and think people like me are crying wolf.
How to convince them this time its real? Well, 3-4 more years will take care of that. It cannot be hidden any longer than that.
Do the math, read the experts. Research the interest on the debt trends. Don't believe me.
No, I didnt. I voted for him in a primary, and sent him money. I get his incessant emails as a result...ugh! I won't send any poltiician money again after I learned what happens to it frona friend who ran for Congress.
Bad stuff is going to start happening soon. Rand needs to tell people so when things start to happen, he'll gain traction. The Dollar being seriously questioned as the world's leading monetary currency will be the first shoe to drop. That will be a fight for our lives when it gains momentum.
Rand Paul is a despicable POS. Surprised his neighbor is the only person who has assaulted him.
Please elaborate. Your lack of details has me perplexed. Please do tell, and provide adequate documentation. At the moment, your words are looking a bit empty.
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