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4 Bumps

Time running out on the US Dollar...

Found this great post on the Net. Watch out America! ..................... Anyone aware of the US Government's real financial situation knows that time is running out. The Government has $15.5 trillion in admitted debts but those debts, when calculated under Generally Accepted Accounting Principles (GAAP), or 'honest accounting', is over $70 trillion. $70 trillion divided by 300 million+ Americans works out to $233,000 per person in US Federal Government debt and obligations. Or nearly $1 million per family of four.

Answer Question

Asked by mrssundin at 1:23 PM on May. 28, 2011 in Politics & Current Events

Level 19 (6,722 Credits)
Answers (10)
  • "A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's greatest civilizations has been 200 years."

    This is one good reason why the founding fathers were for a Republic (and against a central bank - damn Alexander Hamilton).


    Answer by -Eilish- at 1:33 PM on May. 28, 2011

  • Yes, just peachy

    Answer by itsmesteph11 at 5:42 PM on May. 28, 2011

  • A lot of my family experienced the downfall of a currency and an entire country. They're from what is known today as Zimbabwe, but when they were there it was Rhodesia. All of them laugh at people that think this recession is going to destroy our nation, or when people say that the dollar will become worthless. They experienced what that was actually like and they think most people are just way to spoiled to realize that even during hard times we don't have it that bad.

    Answer by miss_lisa at 5:44 PM on May. 28, 2011

  • You are very fortunate to live in the USA despite the present difficulties. No modern nation can exist without a banking system , including a Central bank unless you wish to revert to primitive agrarianism .

    Answer by janet116 at 8:20 PM on May. 28, 2011

  • I really don't know where the dollar is headed. At some point it may not be worth the paper it's printed on. I've been buying as much silver as I can. Even if/when we climb out of this recession I'll still be able to get my money back out of it if not make money.

    Answer by FroggyFeet at 12:54 AM on May. 29, 2011

  • The government would do better to brings its troops home and get them to work rebuilding areas damaged by natural disasters and generally rebuilding the country. A strong and healthy nation will get back on its feet in time. Sending troops overseas is costing too much money and too many lives.

    Answer by MLM247 at 6:46 PM on May. 29, 2011

  • What's wrong with agrarianism?

    Answer by -Eilish- at 7:48 PM on May. 29, 2011

  • -Eilish-

    Answer by -Eilish- at 7:50 PM on May. 29, 2011

  • What's wrong with agrarianism?

    Answer by -Eilish- an hour ago

    Which definition?

    Answer by Carpy at 9:21 PM on May. 29, 2011

  • My understanding of agrarianism is just living off the land. I guess I didn't realize that there was two definitions .... just googled it ... I'd have to go with Thomas Jefferson version.

    Answer by -Eilish- at 10:25 AM on May. 30, 2011

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