PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: DuckTapeSunroof who wrote (749762)	9/21/2006 1:44:38 PM
From: Jamey	Read Replies (1) of 769670

The biggest problem I see (other than affecting entitlement programs) is that most of that money is held by foreign governments, especially China and Japan. With major corporations scaling back and filing bankruptcy we are going to have a slowdown in consumer buying of overseas products. At what point does China or other governments start diversifying out of the dollar into the Euro and gold? We went to war with Iraq because Saddam was going to can the us dollar and now one of the major oil suppliers, Iran is starting its own oil bourse denominated in Euros and Dinars. This will surely push us into a major recession. IMO, the handwriting is on the wall.We are a debtor nation and the living beyond our means is coming home to roost.There are no more rabbits for Mr. Bush to pull out of his bag of tricks. Also you might want to check out what you were saying about social security. I read that SS is not included in the 8 trillion. Including SS we are looking at 56 trillion dollars. I know a billion is 1000 million but what the heck is one trillion? Payback is hell, partner. Santi

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