Will the US government go INSOLVENT? And if it does

[Nikki Stone1]

are we headed for the North American Union and the amero?

(And, was the derivatives bubble by design?)

:tinfoilhat:

[amdezurik]

1. more likely split up,

West America, East America And Aparthied America possibly...

[Romulox]

3. This is my hope. nt

[glowing]

4. Not before massive rioting, looting, death, starvation, and war.

Hopefully, Obama's got a good plan that works, otherwise, that's where we're heading. AND he knows it.

[amdezurik]

5. ah you speak of the hopes and dreams

of neocons like dumbaya and KKKarl Rove...

[Nikki Stone1]

7. Divide and conquer... There are no nations anymore, just markets and labor pools

Scary stuff.

[Golden Raisin]

17. And Jesus Land.

[yurbud]

2. read THE SHOCK DOCTRINE by Naomi Klein or this brief Sopranos explanation of why they would

bankrupt us on purpose:

http://professorsmartass.blogspot.com/2006/03/sopranos-explains-republican-agenda.html

http://professorsmartass.blogspot.com/2008/09/sopranos-bush-collapse-of-lehman.html

[Nikki Stone1]

6. Wow, this so right on...

"What he would do is go to the leaders of Third World countries and make them this offer: If they took out gigantic loans their country could never repay, and use the money to buy construction projects from certain American companies like Halliburton and Bechtel, the leader himself would become fabulously wealthy. If he refused, we would support his political opponents. If that failed, we would support a coup. If that failed, we would kill him. If that failed, we would invade his country. Saddam was one of the few to require the full treatment in modern history. Once the deal was set up, and it was clear the country couldn't repay the loans, then we demand that they give up control of some natural resource, privatize and sell off essential services like electricity, phones, and even water for bargain basement prices, and of course enter these free trade agreements which make it difficult to impossible for countries to set their own labor and environmental standards.

This system has worked so well overseas, that the Republicans seem to be doing it to the United States right now. The debts Bush is running up aren't the result of poor planning, but of design. He is running a bust out, using our country to give tax cuts, defense, and rebuilding contracts to the very wealthy and charging it to our collective credit card. Iraq is clearly part of this. Even if the war went well, the benefits would flow to the few, not to the average American who is paying for whole thing."

[annabanana]

13. Goddam it.. I have been calling this a "bust out" for years...

Just like season one of the Sopranos and that poor guys sporting goods store...


http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=364&topic_id=2798438&mesg_id=2798438

[gravity]

8. The US government can't go insolvent

They can just raise taxes to pay off debt, and worst case, they control the printing presses.

[Kokonoe]

9. The government is insolvent after us. nt

[thereismore]

10. They'll just print more money, like Weimar Republic. nt

[annabanana]

14. wheelbarrows of cash for a loaf of bread...

lookin' forward to it

[Occam Bandage]

11. No.

No and no.
(No.)

[Nikki Stone1]

12. I hope you are right, but I am convinced that the USA is being systematically destroyed

GW Bush was the wrecking crew. Obama will be the "rock star" that can convince Americans to merge into a North American Union, give up our cherished rights, and become part of the globalist economic order, poorly paid but grateful for the work.

[Nikki Stone1]

15. From Confessions of an Economic Hit Man

JOHN PERKINS: Well, the company I worked for was a company named Chas. T. Main in Boston, Massachusetts. We were about 2,000 employees, and I became its chief economist. I ended up having fifty people working for me. But my real job was deal-making. It was giving loans to other countries, huge loans, much bigger than they could possibly repay. One of the conditions of the loan—let’s say a $1 billion to a country like Indonesia or Ecuador—and this country would then have to give ninety percent of that loan back to a U.S. company, or U.S. companies, to build the infrastructure—a Halliburton or a Bechtel. These were big ones. Those companies would then go in and build an electrical system or ports or highways, and these would basically serve just a few of the very wealthiest families in those countries. The poor people in those countries would be stuck ultimately with this amazing debt that they couldn’t possibly repay. A country today like Ecuador owes over fifty percent of its national budget just to pay down its debt. And it really can’t do it. So, we literally have them over a barrel. So, when we want more oil, we go to Ecuador and say, “Look, you’re not able to repay your debts, therefore give our oil companies your Amazon rain forest, which are filled with oil.” And today we’re going in and destroying Amazonian rain forests, forcing Ecuador to give them to us because they’ve accumulated all this debt. So we make this big loan, most of it comes back to the United States, the country is left with the debt plus lots of interest, and they basically become our servants, our slaves. It’s an empire. There’s no two ways about it. It’s a huge empire. It’s been extremely successful.

http://www.democracynow.org/2004/11/9/confessions_of_an_economic_hit_man


Now we have more debt than we can repay and the money has gone to wealthy investors. Does this mean all of our natural resources will be gutted?

[suston96]

16. Insolvent? What does that mean? Liabilities surpass assets? What?