They borrowed more money than they could afford to pay back. We have done the same thing. Now the question is, what do we do about it?
http://i917.photobucket.com/albums/a...gar9/eag55.jpg
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They borrowed more money than they could afford to pay back. We have done the same thing. Now the question is, what do we do about it?
http://i917.photobucket.com/albums/a...gar9/eag55.jpg
Do as america has always done, Print more worthless money
I would hardly say our money is "worthless" but I agree with you (I think) to a point.
Not trying to offend like, Its just a few documentaries recently have rated american money to be worth as much sand :P - dont ask me what the docu's were called but they were interesting especially the zeitgeist 1 and 2 going on about world banks and america,brutal stuff i thought.
The US dollar is the de facto world currency. Has been for a long time. It's stability in value is what maintains that position.
Documentaries are nearly always overtly biased to one point of view. I suggest you not take any of them as gospel.
Docu's are not the only source,our news tells us the same,but months later so i guess theres some truth to the facts. So long as we have cash in out small pockets who cares hey.
Well, I can understand somebody from UK call the American money "sand".
For somebody from Kuwait your money is worthless than sand (1.00 KWD=2.32988 GBP)
Value of the money is not very important, I had a friend lives in turkey, 1 500 000 TL was equal to the ~1USD,but they they have a coin for 250 000 TL, which was only good to buy a gum in their country
Printing more money may help pay back the debt a bit quicker, but to pay back a debt so huge, we're talking about hyper-inflation on a scale never seen before.
What would have happened to Greece if they simply walked away from their debt and refused to pay any more of it?
What is happening to them right now is a loss of their sovereignty. A foreign government is telling them to cut spending and raise taxes. It's not a voluntary move on their part.
http://i917.photobucket.com/albums/a.../Eagar3003.jpg
^Wrong image? :huh:
It's a voluntary move but it's one they MUST make. When you enter into an agreement that all of your money will be worth the same amount and you're having to be bailed out by another country due to your own poor spending and excessive entitlements, that's what happens.
Quote:
Originally Posted by Skiz
/\ :yup: That's the entire town of Eagar.
That's what I'm afraid is going to happen to the U.S. soon. We'll have foreign governments making decisions for us.
I like Greece. :)
I s very peaceful there
Aristotelous Square
http://i39.photobucket.com/albums/e1...7/DSC00201.jpg
Greece is a member of the EU.Quote:
Originally Posted by 999969999
What nation do we have a union with?
How 'bout China?Quote:
Originally Posted by devilsadvocateGreece is a member of the EU.Quote:
Originally Posted by 999969999
What nation do we have a union with?
China buys our debt from various other countries. That isn't a union, at least not in the sense that devils was referring to.
I know that, skiz.Quote:
Originally Posted by Skiz
It was a mis-guided attempt at ironicality.
:pinch:
Irony is lost on me unfortunately.
There are classes for that.
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a good read this one.
http://www.foxnews.com/world/2010/05...-growing-debt/
A trillion dollar bailout? That sounds familiar.
And gee whiz, look who's behind it all...the same "market speculators" who fucked with us.
Why do we allow these parasites to exist?