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Full Version: the american economy
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are the games being played out by the politicians going to effect the US economy in a bad way or will it just be business as usual come august?
i saw on the news that moody's was talking of lowering their rating which in turn means their debt gets noticeably larger.
there's also talk that if the matter isn't resolved by aug 2nd, lot of people won't be getting paid...thats from bernancky's own mouth
Ben Bernanke is part of the problem. His policies have directly influenced the crisis America is now in - but you'll notice he is still getting his inflated salary and government perks.

If theFederal Reserve Board destroyed the $1.6 trillion in government bonds it now holds, it provides a way to have lasting savings to the budget.
thats nothing compared to the $14.46 trillion debt america has. and to destroy the bonds would cause upheaval in the international banking system that would leave a wake bigger than that of housing bubble going pop. every single person in the world who owes moneys to a bank in the usa would have the right to sue for parity, and debts owed the government such as tax could in theory be withheld on the grounds that if what the gov owes the people can be wiped out, that which the people owes the gov can be wiped out