From: Rick v100 (rickv100@yahoo.com)
Date: Thu Dec 15 2005 - 11:26:25 PST
Look at the fight over budget cuts to fund Katrina
relief. We have a bridge to nowhere in Alaska for a
poster child.
Not going to happen. I expect US will default or
inflate the debit away.
Rick
--- G Shaw <milspectruck@verizon.net> wrote:
> A little distasteful economics being taught now in
> college, with some MV
> thrown in.
>
> The only way out will be a write off of the US debt
> and a following total
> run and collapse of the value of the dollar, and
> then in turn the collapse
> of every major world currency not solidly backed by
> gold. (The Chinese are
> buying all the gold they can get their hands on
> right now, wonder why). The
> Chinese hold enough US treasuries (and gold) as we
> speak to provoke this at
> any time of their choosing by flooding the market
> overnite with sell orders.
> They hold a weapon far more powerful than their
> nukes. The US is countering
> by preparing to issue its new currency. They
> already have this emergency
> plan in place. There will be no deficit debt load
> on this new currency
> since it will be wiped out in the default. The money
> is already printed and
> ready. They know that the switch over will have to
> happen quickly and there
> will be no time to produce the printed money once
> the sh*t hits the fan.
> The money looks more or less the same but it is blue
> rather than green and
> is in storage now for some time. The losers in this
> deal will be all those
> who are *lenders* in the system, such as anyone with
> a 401K or other plan
> based on stocks or bonds, people who hold Treasuries
> (who have loaned their
> money to the govt) etc. They will have to consider
> those investments gone
> as they are in all countries where a currency
> collapse has happened
> historically. Essentially the economists will tell
> you that this instant
> transfer of wealth back to the government from the
> losers who are wiped out
> is what restarts the economy.
>
> Drastic cuts in they way we do business will be
> needed to avoid all this.
> And for the MV content; it is assumed by the Rand
> Corporation synopsis that
> a war will result followed by a rebuilding of most
> of the world. Everyone
> in top positions know that severe protectionist laws
> allowing for trade with
> other countries using an applied duty based on the
> difference between the US
> and foreign wage scales where the product is
> produced, coupled with
> draconian government spending cuts to begin in the
> next couple of years will
> avert this world catastrophe that is building up. I
> believe that soon most
> legislators will realize that the non-war solution
> is less painful than the
> war/dollar default one. We shall see. Maybe not.
> Soon.
>
> Glenn
>
>
>
> -----Original Message-----
> From: Military Vehicles Mailing List
> [mailto:mil-veh@mil-veh.org] On Behalf
> Of Hutterer, John (MPAU)
> Sent: Thursday, December 15, 2005 12:10 PM
> To: Military Vehicles Mailing List
> Subject: Re: [MV] Chinese Products
>
>
>
>
> Here's an interesting bit of information that was
> published in the local
> paper a few weeks ago. A nationally known economist
> was in town to give a
> lecture to the business community, and the paper
> quoted some information
> from his latest book. Unfortunately, I don't
> remember his name.
>
> The national debt is growing. It is growing very
> fast. By the year 2042 ( a
> long time from now? No actually only 37 years) it
> will be so great that it
> will be equal to 6 times the Gross National Product
> of the United States.
> Much of the National Debt is owed to foreign
> countries, since they are the
> only entities that are wealthy enough to buy our
> bonds in quantity. In 2042
> it will take 95% of the total tax money collected by
> the federal government
> just to pay the INTEREST on the National Debt. That
> leaves the remaining 5%
> of the taxes that are collected to fund the rest of
> the government. Try
> paying for Defense and Social Security with only 5%
> of the budget. This is
> the scenario as it relates to the programs that are
> currently in force under
> the Bush administration. If the policies that were
> put in place by the
> Clinton administration had been followed, the above
> figures would have also
> been true, but they wouldn't have occurred until
> 2052, or ten years later.
> In reality, it isn't much of a difference. The point
> of this is that the US
> is heading towards bankruptcy. At some point in
> time, we are going to owe so
> much money to the rest of the world, that they are
> going to basically be
> able to "foreclose" on us. Of course, that isn't how
> nations operate. I
> honestly have no idea what will happen, but it sure
> doesn't look good.
> Personally, I believe that this is just another
> example of how we, as a
> nation, have made "me first" a national mantra.
>
> Hoping there is a way out of the mess...
>
> John H
>
>
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