Caporegime
Indeed, it's not as sensational as the headline would suggest.
US Government Runs Out of Money
- Thread starter Jokester
- Start date
Indeed, it's not as sensational as the headline would suggest.
The Senate doesn't even know how the Senate works and that is half the problem.
Neither do the American People generally care about the social underclass either, as long as they are not in that underclass or affected by it they couldn't care less, such is the nature of American Culture.
As for Government Shut-down, this is hardly a rare thing, only because Bush had a majority and the patriotism inspired by the War on Terror did he not have the same issue.
Clinton, Reagan, Carter all had the same problem.
Because they have an executive system and the President holds the executive. When the Presidency and the Senate are controlled by different parties this is what happens.
Soldato
They own a big chunk, but I'm pretty sure the Fed now owns more of the US national debt than China (which has about $900 billion, last I heard). And most of that has been taken on in the last two years. It's simply staggering that fictional economics, where you can essentially lend money to yourself at negative interest rates (including inflation), has completely taken over from real economics in the West.
That's why inflation "isn't a problem".
To be fair to the USA, everyone's at it, including us. I watched Question Time on TV last night and got totally depressed at the way the whole debt blame game has resulted in nothing other than hiding the truth. And the truth is that there's no alternative to just playing pretend until the grownups come to tell us playtime is over.
I'm just not sure who the grownups are any more. I used to think I knew, but now all I know is that I was stupid for saving hard for everything I needed (rather than wanted) and never spending more than I could easily afford. If you're not a good little debt slave (and that applies to individuals and nations) you're no good to anyone any more.
On the bright side, we are living through a chapter in human history which future historians will be fascinated by. Personally I'd rather read about it from the future than live through it now though.
Andrew McP
Man of Honour
Ah, if only this was the West Wing they'd have it sorted out in no time.
Although perhaps Richard Feynman summed it up best with "There are 10^11 stars in the galaxy. That used to be a huge number. But it's only a hundred billion. It's less than the national deficit! We used to call them astronomical numbers. Now we should call them economical numbers.".
Although perhaps Richard Feynman summed it up best with "There are 10^11 stars in the galaxy. That used to be a huge number. But it's only a hundred billion. It's less than the national deficit! We used to call them astronomical numbers. Now we should call them economical numbers.".
Man of Honour
You'll be waiting forever.
Associate
In the West Wing they had a similar scenario, President wouldn't sign a temp budget and there was a shutdown.
I do reckon its all a little similar to a West Wing episode, which is brill
The total gold reserve held by the US is only worth a bit over $200 billion. That's at the current market rate and obviously selling any large amount would depress the value.
If the US collapses you can kiss China goodbye as well.
You'd better make yourself comfortable as it might take a while.
As far as I'm aware no one actually knows how much gold America has in Fort Knox....
http://moneywatch.bnet.com/economic-news/article/is-there-gold-in-fort-knox/385523/
When the U.S. finished building Fort Knox in 1937, the gold was shipped in on a special nine-car train manned by machine gunners and loaded onto Army trucks protected by a U.S. Cavalry brigade. And the fort has been pretty much off limits since then. A U.S. Mint spokesman said in an email statement to MoneyWatch that the accounting firm KPMG, which audits the Mint, “has been present in the vault at Fort Knox.” The Mint won’t comment on exactly how much gold is in there, though.
That’s why Ron Paul (R-Texas), a 2008 presidential candidate known for his libertarian streak, wants to have a look around. Paul introduced a bill to audit the Federal Reserve, which includes Fort Knox’s gold.
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Go Ron Paul go!
Couldn't agree with you more!!
I believe he is going to be running again for Presidential election although the powers that be won't let him win. Although if by some miracle he did manage to get elected I would seriously fear for his life!
Soldato
We would if not enough people agreed to vote for the budget.
To me this is far better than just passing another continuing resolution, and might actually lead to a final solution. Also - people sniffing at $30BN out of a $350BN budget, you do realise that's nearly 10% of the budget right?
Also, Ron Paul is a lunatic. I'd far rather see Trump get elected - at least he'd have a fiscally responsible domestic policy and inject spending into job creation. Plus he'd shout 'You're Fired!' if anyone made a mistake in cabinet.
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In what way is Ron Paul a lunatic, he simply wants to reduce the size of government, pull America back from interfering abroad and being the world policeman, and return America to a sound fiscal policy where they live within their means and have an economy based more on savings and production with honest money rather than this crazy fiat debt based paper system...
All very true..sadly, tho Regan actually got more done when he lost seats and had to work with a Republican Majority.
ANd yes, not one American cares for the us poeple that live in pretty bad shape, hence such a stance against a universal health system, if your a workign American they dont believe that any other American should be out of work, so why do I have to pay for them atitude.
I feel Obama has been given the worst term and has had every idea beaten down by the Republicans, can poeple in teh US be so lacking in history they cant remember what got them into their current mess?.
COuld add much of that mirrors here by the way.
THo this is what blew him out of the water to actually elect him, his policies for making all of that work where la la land stuff about how he could do it, not one made any sence when under scrutiny.
He made an ass of himself during many interviews when it came to actually putting the vote down for who would run for the presidancy.
Caporegime
$3500bn isn't it? At least thats what it says in posts above yours. so 1%.
Caporegime
