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Comment by Bernard Earlington
Entered on:

Tan is right … don't listen to this bankruptcy crap!

In this Ron Paul write up, what is warned is that if this nation will not stop military spending we will go bankrupt! According to Tan, tell that to the birdbrains, or to the crows when they turn white [Tan picked this up from Bakadude’s commentaries].

I would like to sign in my agreement with Tan and Bakadude. Indeed, when did this nation ever stop military spending? Since more than two hundred years ago, it kept on borrowing and spending … spending and borrowing and spending again and again… Did this borrowing and spending Nation ever go bankrupt? It is this borrowing and spending, spending and borrowing again and again that made this country the richest and the mightiest nation on the planet! This country "going bankrupt, self-destruct and disappear from the face of the earth" is baloney!

I agreed that for political expediency, to say that this country is going to "get bankrupt" does nothing to the nerves except attempt "to cure a worsening political neurosis". [Tan, Bakadude]

I am also in total agreement with this following prognosis, re.: that if borrowing and spending will hit over $25 trillion more in five years, expect the worth of the wealth of this nation to grow even more. "We have the history of this nation to prove it." [Tan, Bakadude]

My advice is, don’t foolishly debate against this truth … against this established reality. Politicking on "bankruptcy" as an issue is just a political noise which to politicians, this street Economics is music to the ears! I suggest you wear earplugs when listening to this crap.



Comment by Ed Price
Entered on:

Make no mistake. Tis true,"It is this borrowing and spending, spending and borrowing again and again that made this country the richest and the mightiest nation on the planet!" And right on the heels of the borrowing and spending is, bankruptcy.

If you buy some land, and build yourself a house, and do it all without going into debt, you can sit back in that house and relax. You own it.

Conversely, borrowing money to buy land and build a house leaves you in a constant state of anxiety and anticipation, wondering if you are, for sure, going to be able to make all the future payments. If you can't make your payments, you just might lose everything you already put into the project. Just ask all the people who are being foreclosed upon today!

Constant borrowing by the nation has made the nation grow by leaps and bounds, with the appearance of wonderful health. But there is no foundation. It is a nation built on the blood, sweat and tears of its own citizens. The toll is being seen in the failing of the current economy... a failure that is surpassing the failure of the banker-caused, Great depression in some ways.

Consider all the prosperity Americans are losing right now. And think of all the worldwide strife caused by the banking system that has been stealing the labor of Americans through fake loans with real loan repayments, which are being used to finance international campaigns of terror by those who have received the loan repayments.

Wake up, America. You are being stolen from by the banks. And that which they are stealing from you is being used to finance the bankers' take-over of the entire world! Wake up before it is too late, and they pull the carpet of your personal private property out from under you and you fall flat on your face.

Comment by Venancio Tan
Entered on:

This rhetorical falsehood is quite disturbing, to say the least!

This Nation is NOT like an imagined House built on land with mortgage in the bank. That’s so mundane and artless for a layman to think that way. There is no such bank that would or could foreclose this Nation .. ever! For this wealthiest Nation on the planet, bankruptcy cannot happen even until the crow turns white [Bakadude]. So just sit back, relax and sleep well.

We built this Nation by borrowing from OURSELVES. If there is a bank you like to mention in your comparison, then that bank is YOU AND I, the American people WHO BUILT AND OWNED this House out of borrowing from ourselves from generation to generation – it is definitely NOT owned by that mortgage bank on Friday the Thirteenth in Elm Street.

We can keep on borrowing from ourselves till hell freezes over. In the final accounting, the ever increasing debts are in reality paid off or converted to our ever increasing wealth as our technology advances and our scientific discoveries multiply. And this balancing economic equation cannot be influenced or disturbed by time – the cycle goes on and on like an automaton, ad infinitum! [Bakadude’s book on Globalization.]

More than three hundred millions Americans are not going to become impoverished or will not starve or going homeless on account of those increasing debts as their global power and might and their wealth increase in tandem with the rising curve of their I.O.U.s. If this political incantation of "bankruptcy" is true, it could have happened many, many years ago. It did not happen, will not happen or will it ever happen today, tomorrow or in light years to come!

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