-----
/ o o \
====OO=====OO===
http://pnews.org/
Progressive News & Views (since 1982)
|||||||||||||||||||||||||||||||||||||
---
We are Drowning in Debt.
Republicans poo poo debt, like it was nothing. Not all of them, but many of
them. But try to run your househole that way. Many of you do and many of you
have gotten in a lot of trouble doing it and some of you have declared
bankruptcy doing it. We're in trouble. We're bankrupt. The capitalist system is
in the toilet.
Manufacturing are way down as a percentage of what we do as a country. Services
are way up.
When we were the greatest creditor nation in the world - before Reagan, we were
the greatest financial power in the world - just as Britain had been up to the
1900s. Our national debt now breaks all records. Household debt breaks all the
records and our foreign debt is higher than ever dreamed it could be. We owe
more than we can ever pay back. They lend to us because we are their consumer
of last resort. They (China, Japan, South Korea, Taiwon, et al) sell their
exports and they have to lend to us so we will buy and as we do and they do we
get weaker and weaker. All we have are service jobs and those jobs Bush says
American won't do, but illegal immigrants will. It is insane.
Patrick says their currency fluctuates. It doesn't it is tied to the dollar.
Think how easy it would be to crash the American economy. What do you think
China would have to do to defeat us? They don't have to fire missiles at us.
They tie their currency to the dollar. They can un-tie it. They can sell off
our debt. They can stop buying our debt.
The major banks of the world are not yet dumping dollars but they are starting
to add to their dollars with other currencies.
Saddam was going to switch to trading oil in Euros from Dollars. Then we had a
war. Iran says it is going to switch to trading oil in Euros from Dollars. And
there will be war.
Hank Roth
IMPORTANT NOTICE:
The choice here is either participating in this list or I will
install phpbb and we'll switch to the message board - or I will
CLOSE IT DOWN. That choice depends on you.
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
M A I L I N G L I S T S
(1) pnews-news - NEWS mailing list - (text only)
Send "subscribe" or "unsubscribe" as subject
----> pnews-news-request(at)inyourface.info
=======================================================
(2) pnews-views - VIEWS mailing list- (text only)
OPEN discussion - "subscribe" or "unsubscribe" as subj
Send to ------> pnews-views-request(at)inyourface.info
=======================================================
(3) fightback - articles and pointers distribution list
(html/text) - expert informed opin., credentialed authors
----> http://pnews.org/dada/
========================================================
(4) ATTN: WEBMASTERS - Link Exchange/improve site rank
----> links_only-subscribe(at)googlegroups.com - or, go to:
-----> http://groups.google.com/group/Links_Only
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||
