axelrod608

Wall Street Breakfast: Must-Know News

>> "People spending more than earning is to blame for losing their jobs and houses." >>

Sure, but they couldn't have done it without the government policy of easy cheap unlimited credit for all, even the uncreditworthy. You must be a young person with a limited understanding of history. When I bought my first house, if you didn't have 20% down, they didn't take the application.

As for your comment that it's not the fault of this administration, sure enough that';s true. But what';s also true is that both of the ruling parties and all their administrations is that there's no difference - BOTH have championed the stupid, shortsighted policies that have brought us to this sorry state of affairs.

Finally, if you really, honestly think that pouring a decade's worth of tax receipts down the drain in an attempt to "fix" this mess is a good policy, all I can ask is "Do you believe in magic ?" In all of history, it has never worked before.

A very wise man, Albert Einstein, once observed that the most powerful force on earth was the power of compound interest. The formal IOUSA policy is to go against this power by continually running the government as if this was not true. We have neverending deficits and an evergrowing national debt that we can NEVER hope to repay. NEVER.

And the power of compound interest is 100% working against us. The IOUSA is unsustainable. There are only two options - default on the national debt or devalue the currency enough to make the natuional debt serviceable..

We have two ruling parties that have ZERO control over spending and a policy of "cutting taxes". Both have conspired to bring us to unsustainability.

Next time you go to the voting booth, remember - IF you vote for a Republicrat, YOU are the problem.