Ask an expert: Is US headed for fiscal abyss?
MSN Money's Anthony Mirhaydari answers Facebook users' questions about the nation's debt crunch.
As he answers questions from MSN Money's Facebook community, Mirhaydari also discusses investments that do well in a debt hole environment, such as gold and other inflation hedges.
Oh yea, the personal responsibility people love that stuff. Let's pit common Americans against common Americans because they can't see that the game is rigged against them. Keep them fighting amongst themselves so they won't even look for the truth....they will just continue to blame each other.
Here's an idea for QE III.
If more stimulus money is given to the likes of Gold-in-sachs, that money will not benefit the US economy.
If a bank fails and needs FDIC money it “should be dismantled after that, and the name should be buried in disgrace,” Dimon said.
We're holding you to that Dimon.
We don't have a decade or 2 - we have a best a few years - when debt approaches 100% of gdp, growth is reduced by about 1% per year, that is the situation we are in now, as debt increases it gets worse.
There is a saying in economics "If something cannot happen it won't happen" we cannot continue to borrow/print 1 and a half trillion dollars per year, who will buy our bonds and if the fed prints that much money hello inflation.
We need adult leadership in Washington, these guys have kids and grandkids, let's hope that they care more about their kids and grandchildren than the next election.
We have already gone over the cliff, just wait untill we hit bottom,the librels will blame everyone else..
Cliff is comming very soon, we need to push the corrupt congress, Courts, and Obama-Nation off the cliff.. As a country we have way too much debt and exported too many jobs, we are done, cooked like a turkey and mos americans are WAY TO STUPID to realize. Liberal Media, Crap TV, Bad Schools, and Drugs have done this country in.. Not to mention really stupid corrupt politicians and NO RECOURSE..
Step Up America - Get a Clue..
Forget GOLD, forget SILVER, invest in LEAD, POWDER, PRIMERS and BRASS all of which should combined in the proper sequence! Just MHO you understand
Tax revenues are down. The various trade agreements passed in the last twenty years, have not helped our situation.
Good mfg. jobs, that paid a reasonable wage, returned tax revenues paid by the workers. Now we have a walmart economy, where almost fifty percent do not pay taxes, if they are working at low wage jobs.
IMO, we are facing a financial abyss, much sooner than later, unless something is done. I would start with stopping foreign aide. Federal workers will have to take a pay cut, US has to stop being the world's policeman, and yes taxes have to be raised on the ultra wealthy. I find it disgusting, that a man that actually works hard for a living, pays a higher tax rate, than the ultra wealthy.
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