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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: LindyBill who wrote (521501)	11/9/2012 11:15:13 PM
From: skinowski	9 Recommendations Read Replies (3) \| Respond to of 793913

Nobody has ever been the worlds central bank before. The dollar is the global reserve currency. The new "gold". To my knowledge, our capacity to borrow and to hide (or "park") debt within our huge banking system is unprecedented. But numbers are numbers. Forever it will not last. The nation survives on borrowed transfer payments. The recipients spend the funds, and those dollars show up in corporate accounts and with a variety of other holders. They remain in the system. Even with artificially low rates, the interest payments on debt are already astronomical. Sooner or later something will snap, and we'll have panics and other problems. And everyone will be astounded at how people could keep up this obvious madness until it was too late.