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  • A Humorous Look At The World Economy

    There’s nothing funny about the state of America’s finances, or those in even more dire straights in Europe. Greece has lined up a bailout from other European countries and the International Monetary Fund. The European Union has announced a trillion dollar defense fund to ward off attacks on the Euro that are sure to come as other countries like Portugal, Spain, Italy, and Ireland come under the debt markets merciless microscope. And all that is holding the ball of wax together is faith that the Germans will be willing and able to continue to bankroll the continent more or less indefinitely.

    Of course, the United States is in basically the same position, just with a lag of a few years. And, unfortunately, President Obama and his congressional allies seem quite intent on closing this gap quickly with more and more deficit spending as evidenced by their attempt to load more government spending on an otherwise non-controversial tax extenders bill.

    The numbers and complexities of these issues are sometimes a tad overwhelming to analysts steeped in the history. These matters are bewildering for most Americans, and even most policymakers. This video on YouTube explains the issues about as well as can be done, and does so with a humor to match the severity of the matter.

    Posted in Economics [slideshow_deploy]

    9 Responses to A Humorous Look At The World Economy

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    3. Dean, Lititz says:

      Who's on first?

    4. Dennis Social Circle says:

      Get ready, interest will soon hit an all time high, making the carter years seem like play time, jobs will be harder to find, inflation will run rampant and our national debt will climb to a point of no return. The houseing market will fall futher than it is now, and when China calls for its debt to be repaid, obama will fold like a deck of cards. The hope and change he called for will be here, his sayinmg of "spread the wealth" will be total, only we as AMERICANS will have no wealth.

    5. Ronomundo, Conway, A says:

      Remember: "The borrower is slave to the lender." The ONLY ways out are bankruptcy for the entire USA, becoming part of China or Secession by some of the States. The debt cannot be paid except as follows: Massive inflation under the following terms; printing of United States Notes instead of Federal Reserve Notes and paying the Chinese, et al in United States notes only followed by balancing the budget, followed by adoption of the Fair Tax System, which would return about 14 Trillion offshore dollars to onshore investment.

    6. Lynn Bryant DeSpain says:

      As the saying goes,"If you can't laugh at it, you can't live with it." One the serious side, we have to look to what brought America into the European downfall. Who are the responsible parties.

      The purpose of knowing is not to place blame, but to correct the action and not to do it again. We could start by reversing NAFTA.

      The Euro was always based of Air, and never would work. Ending with Bush Jr. and realy exploding with Obama, we started doing the same thing!

      America is akin to being on a drinking binge to avoid a hangover. The biggest problem with this, the longer we go, the bigger the inevitable hangover.

      Now we owe China Trillions, but China is going broke too. Their problem is they lent munsecured money to a bunch of blowhards, and they are the ones who will just have to suffer their own losses.

      Those in the European Nations, all will have to suffer their losses due to unsecured loans, to one another.

      It is time to stop sucking up the joy juice and wishing on that star, and begin the process of recovery. Whcih means, No more NAFTA, no more Illegal, we need the jobs, no more 'Green Energy Wind Turbines" built in China, we need the jobs, no more adding corn alcohol to our gasoline, so we can get that additional 3MPG, and free up the land for real food, instead of importing it, no more temporary jobs and part time jobs and calling them 'Real', start downsizing government payrolls and thus taxes, so that more money is available to invest into job making industries, admit finally that the Earth is not warming up to 'Green House Gases', and that all of our polution controls came to naught, the fist week of the volcano in Iceland, and we were better of in 1959 when the Rambler car got 39 MPG, and all of our suvival bills, electric, gas and mortgage was not over half of our income.

      It is time that we allowed our own American fisherman to earn their living in American Waters instead of issuing permits to the rest of the World. It is time that we allowed our own loggers and mill workers to create lumber right here instead of exporting logs and chips to the rest of the world. It is time that we tapped our own oil and refined it right here, instead of bringing it in from the rest of the World.

      Once we have recovered, taken care of our own house and put it in order, then we can export and import to our hearts content, and aide those in need, andhopefully will have learned our lesson, that America Stands alone in this World as the only true Free Republic Nation on Earth, and that we will not sell our souls.

    7. greg in fla says:

      spot on like my british friends say. i love brit humor, but this isn't funny. we are all going to pay, dearly.

    8. Pingback: How to Get Free Money From Banks | My Income Multiplier

    9. Murray Davis Florida says:

      Might all the present hysteria be a bit overblown?? The percentage of National budget of our debt is no larger now than it was in the 1950's; we survived. I think a "red" herring is being drawn acoss the media because of vested interests who fear the Administration will soon have them in his sights.The real fear I have is that there is and has been an ongoing trend to focus more and more of the Gross income into fewer and fewer hands. The American middle class has stagnated far too long with our buying power below of what it was in the 1950"s. We find money (trillions ) for unnecessary wars but our middle class can hardly afford to send their children to college.If they would close the off shore tax shelters that exist for already wealthy corporations it would pay for college for all.If we allow the Afghans and Iraqi's solve their own problems we'd have more cash on hand than China. We are a rich rich nation but not a wise one. We are in the hands of a Corporate dictatorship where the rich are cornering more of the national wealth than the people. If you don't beleive that, just look at the basic facts and statistics

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