Any time you bring the two Pauls together in an interview, and start discussing items such as the debt ceiling, government spending, and monetary policy you know the results will be good. Sure enough, in this rare ABC interview with father and son, the sparks fly, and among the topic touched is the most popular story on Zero Hedge from yesterday, namely President Obama fabulous hypocrisy, who after bashing the debt ceiling as a senator 4 years ago, has bet the outcome of his entire economic policy on maxing out every single credit card available to him. Paul's response: "we have to face the fact that we are bankrupt and we can't pay our bills." Not exactly the kind of thing one wants to hear if one's name is Hu Jintao. That said you know the Paul-led interrogation of Bernanke will be something else, even if it is ultimately totally fruitless.
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ReplyDeleteThe bankrupt status of the (once mighty and powerful) United States is an enonomic nuclear bomb on the world's horizon. The consequences are so profound and far reaching, they (the consequences) cannot even be accurately anticpated or predicted. The entire world economy is based on the U.S.'s (previously) ironclad trustworthiness and integrity. The political and social upheaval will rock the foundations of the developed world. And THAT is probably an understatement. Wars will be inevitable, including civil wars in a few countries. The thing that REALLY kills me is that every Western leader KNOWS this, but refuses to broach the subject. The economic depression of the 20's and 30's will seem like a wedding reception compared to the one thats coming. Back then, a lot of people were still rural and could manage. What do you think millions of urban people will do when their money is worthless, utilities are cut off, government subsidies are gone (no funds available for "disability" and "Independence Cards"), no jobs are available, and it's winter time? Think about it. I've said before and now you have Senators saying the same thing --- we are headed for disaster. No way around it and no way to stop it. Be ready or be taken advantage of....
ReplyDeletethat "The American Dream" video has been deleted by the user now. ya know, the one showing how we owe the federal reserve all our money? interesting.
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