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Politics : Stockman Scott's Political Debate Porch
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To: Jim Willie CB who wrote (19430)5/21/2003 6:12:31 PM
From: RealMuLan  Read Replies (1) of 89467
 
Jim, I hear you, and agree, we are in deep deep trouble<ng>

>>in the early 1980's our debt levels rose
and interest rates rose to 16% on mortgages
the dollar fell almost 50%<<

And this time around, the thing might get uglier since the magnitude is much larger.

>>Americans never give the $6.4T feddebt a second thought<<

That Fed. debt is not quite related to individual live, but what about the personal debt? This is one thing marking the striking difference bet. Chinese culture and American culture. The parents in China always have one thing on their mind: what can they save for their children, and how can they save more for them? They would never go out and borrow themselves to death, and leave a huge debt for their offsprings. While Americans seem having NO problem to leave a huge national/personal debt for their next generation, or next several generations.

BTW, how are you going to protect yourself? I mean except buying gold?<g>
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