PhillyD

What's Keeping the Dollar Down?

Quite frankly, Surgcare, to blame Democrats for this mess is so stupid I cannot believe that you took the time to write this. I AM NOT A DEMOCRAT BUT which President was in power when we became a debtor nation (Reagan), which President was in charge when our country and economy has almost collapsed (Bush), which President was in charge when we went off the gold backed system (Nixon), and which President was in charge when the most people gained the most income, investment gains, and the debt was paid down the most (Clinton.)

I AM NOT A DEMOCRAT but to lay our current situation at the feet of Democrats is akin to being a subversive and traitor (OK OK that's hyperbole!) since the facts speak the exact opposite.)

Democrats tax and spend. I hate it. They tax too much and spend too much. HOWEVER, Republicans are WORSE! They borrow and spend thereby fooling people to think that they're getting a free ride while they put off a debt that our children and grandchildren will pay. While I hate overspending and overtaxing I'd rather my country at least know what it is we spend on so my kids and grandkids have a chance to right the ship. As it stands now the debt of our country is so high that I'm afraid my kids will not be able to pay down that debt.

What will happen is that we will default on that debt (Medicare and SS obligations will get rearranged and reduced just like those private plans at Ford and GM.) What may also happen is that we will no longer be on the dollar currency. Europe may offer us some Euros to cancel our debts and then we'll lose our sovreignty and become just another country in the world.

Amazing ... all of this collapse in under 50 years and no one seems to be able to see it. The big wigs see it but they don't care since they're going to be wealthier and more powerful than ever. I am not talking about $250,000 per years employees. I'm speaking of the super wealthy.

Sorry for the long post but this is the way it's coming down. Read "The Coming Economic Earthquake" by Larry Burkett. He wrote it in the 1990's. He was spot on ... only his timing was off (and he even said that his timing was most probably off but the results were inevitable.)