llepard
08-13-2011, 08:07 AM
For the record, I do not buy the paper but my wife does.
Occasionally I glance at it to see what the dinosaurs are saying pre extinction.
From today's lead editorial criticizing the Republican debate:
"Representative Ron Paul ridiculously claimed that the United States is bankrupt."
Let's see $100 Trillion of unfunded liabilities (being generous, some say $200 Trilion), GDP of $14 Trillion, Federal Deficits of $1.6 or 46% of the budget and growing. Artificially low interest rates which if they were allowed to adjust to the free market rate would more than double the deficit. All of this being funded by money printing.
Sounds pretty bankrupt to me.
Of course the Dollar is still the reserve currency (for now) and so we can inflate to meet our obligations, but debasing the currency is just slow motion bankruptcy.
Ridiculous. Interesting choice of words NYT. "First they ridicule you.....
We will see who is ridiculous in this Fourth Turning.
Somehow I am pretty sure that it will be the NYT and not Ron Paul.
Occasionally I glance at it to see what the dinosaurs are saying pre extinction.
From today's lead editorial criticizing the Republican debate:
"Representative Ron Paul ridiculously claimed that the United States is bankrupt."
Let's see $100 Trillion of unfunded liabilities (being generous, some say $200 Trilion), GDP of $14 Trillion, Federal Deficits of $1.6 or 46% of the budget and growing. Artificially low interest rates which if they were allowed to adjust to the free market rate would more than double the deficit. All of this being funded by money printing.
Sounds pretty bankrupt to me.
Of course the Dollar is still the reserve currency (for now) and so we can inflate to meet our obligations, but debasing the currency is just slow motion bankruptcy.
Ridiculous. Interesting choice of words NYT. "First they ridicule you.....
We will see who is ridiculous in this Fourth Turning.
Somehow I am pretty sure that it will be the NYT and not Ron Paul.