The U.S. government is living beyond its means. The government spends $1.3 billion per day over what it takes in. The U.S. debt grew 9.5% last year, surpassing $9 trillion in October - about $30,000 for every man, woman and child in the country. U.S. government liabilities, including net social insurance commitments, now total $50 trillion. In order to bridge the gap, the Federal Reserve prints more money, making each dollar less valuable. The dollar is no longer tied to the gold standard, so it is easy to create more dollars when spending exceeds income. "The U.S. government has a technology called a printing press - or, today, its electronic equivalent - that allows the Federal Reserve to produce as many U.S. dollars as it wishes at essentially no cost." - Ben Bernanke, Chairman, Federal Reserve System The total number of dollars grew 10% in the last year to $11 trillion. As of October 2007 the amount of money is growing at an annualized rate of 12.8%. The purchasing power of the dollar is falling at an accelerating rate. A pound of ground beef costs 28% more now than three years ago. A gallon of gas is up 69% over the same period. Health insurance premiums have risen 48% in those three years. The dollar is hitting new lows against foreign currencies. What do you make of this fellow blades? This is something I am extremely concerned about and would like to hear your takes on it.
I know its not the happiest subject but important none the less. You can't just close your eyes and pretend our currency isn't in peril.
sorry to be a dick but george bush fucking up just makes it easier for me to buy shit over the net with the ever growing AUS vs US dollar.
The biggest thing that we are paying for now is the interest on the money we borrowed to get out of the great depression and fund WWII, that is where most of the inflation of the dollor is from. If you look at most countries, they also have gone through depressions and were in dept worse than us from time to time. It happens in almost ever country is the cost of that we all pay for having a global economy. No go hit your bong and rest easy tonite, now that you know that everybody is fucked over every once and awhile.
Maybe if the federal reserve wasn't such a horrible system to implement we wouldn't have this problem.
George Bush is only remotely tied to the problem. Our death warrant was signed decades ago when Woodrow Wilson penned the Federal Reserve Act.
i at one time liked george bush,,,,, but the fellow is bankrupting our country,,,,,, this nation buildig we are doing in iraq, is fucking our world up,,, and this '' stimulus '' package,,,, this was tried in the past,, and it didnt work,,, thats why the cost of a barrel of oil is so high,,, because the dollar aint worth shit...... food goes higher,, because the farmers got to pay for diesel...... even though it's '' off road diesel '' it;s still through the roof......... fuck doode,, we are fucked.. it's a good reason to revolt,, and take this country back from the elite politicians,,,
more FDR than Wilson but he had alot to do with it, Wilson was just fucked from the start, there was nothing he could do to help us.
Hmm considering our current national debt is now around $9.35 trillion, the war in Iraq is estimated to cost $808 billion by 2010, by 2010 the North American Union should be in force, and did I mention we are selling US Bonds to China........ We've been fucked for a while no new, news to me.
look dog, the debt is just a number, all countries have a debt, some with weaker economies than ours have larger debts. Its all relative in the long run, everybody owes money to everyone so in the long run it all evens out.
So tell me why again the US is getting into the NAU? Cause China owns our economy and we need support from our neighbors.
well actually britain owns our economy, we just borrowed alot of money from china. it goes deeper than just the federal reserve act and the reserve itself being bs. this generation has revolt. like chicken said we gotta take it back from them...and mr.bubbles man...life doesnt have to suck. it does now sure, but hopefully well get through this.
By a lot of money I hope you mean the $808 Billion for the war. Plus all the shit they've been hooking up since the stock market fell. How about we talk about the trade agreement between the US and China. We import more of their stuff than we export = China gets more US dollars