Obama is clearly using the budget to his own political benefit, and so are the republicans. It will be very interesting to see what will happens to the E/U as the politicians keep suspense in the air. Overall i believe that America already is naked in public, while Europe is trying to cover herself in rags. I think we are half way through our crises while the PIIGS are still in denial ( or on cover up mode) so we should emerge ahead of the Eurozone.
I was thinking about this last video and I don't get their point. They blame the FED for messing up the economy and they want the government to print 'debt free money' so we pay no interest to the bankers.
Thats all beautiful and nice theoretically.
Now if they really get what they want we will suddenly find the power of printing money in the hands of people like Barney Frank.
Do you really want that?
I understand that the FED is after their own interest not yours or mine but let me ask again.
Is the congress any better?
Abolishing the FED would just give it another name and maybe form. The crooks will still be behind the curtain manipulating the new institution.
The problem does not reside on who prints the money, or how good or bad they do their job. The problem is with the human greed.
Unless there is a revolution and they change the way politicians are elected, and make them be accountable for their promises, and enforce on them some serious liabilities when they screw up nothing will change.
The US lifestyle just isn't sustainable. Jim Rogers was saying on BBC the other day no matter how much money you have it won't be able to buy you food, in the next few years. Not decades away, 5 years or so.
QE 1, QE 2.....
This is not new territory. I say again, in the 70's gold was $800 and ounce, the adjusted equivalent today is $3000 an ounce. We haven't even begun mate....
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