What do you think about the American debt crisis?

I completely agree. what do you think will happen in the meantime to the WORLD economy?

Yes but it will require something that is anathema to most Americans, personal sacrifice. For most of the last 30 years Americans have lived high on the hog through overspending at every level from individual to federal. Most of us will have to accept higher taxes, a less wasteful lifestyle, and a lower standard of living.

I didn’t realise untill recently how bad things were in the U.S. I read some where China have lent Billions to the U.S. I think things may get worse yet!!

As long as there is a DEBT producing entity responsible for the creation of capital… the DEBT will inevitably grow exponentially larger. This is the system.

As long as there is a Federal Reserve Bank… buying T bills and issuing money at interest… it is impossible to overcome the debt. This fact should not be as obscure as it apparently is.

No amount of austerity will alleviate the problems. The system doesn’t work that way. The total amount of money within the system with which to pay back the debt will ALWAYS be less than what is owed. Borrowing money creates debt and inflation… which then mandates more borrowing the next time… which creates a bigger debt and inflation. Its a vicious cycle. The problem is debt… so more of it isn’t a remedy. Austerity wont work either because the debt is already built into the system. The only solution is the shuttering of the Federal Reserve System and the return to a SOUND MONEY SYSTEM.

If and when we finally figure out the hopeless nature of our current system… it will necessitate certain changes. Ideally… those changes would be a much reduced military budget and the rescission of the more draconian executive bureaucratic mandates that have been created since 9/11.

We’re finally seeing the true cost of these supposed wars on terror. We’ve made the world a much safer place for the debt dealing bankers. … and it’s only cost us everything. Do you feel duped?