Our nation's debt is piling on quickly. Since our economy is essentially based on debt and front loading consumption, the debt deflation that I believe we are experiencing is causing a significant economic contraction. The growth rate of our economy and the corresponding expansion of the money supply was fostered by
securitization and moral hazard. The solution that the Federal Government is offering to us is to replace the destroyed debt with new, Government debt. Great, but this is debt that the taxpayers will have to carry anyway. It is not a solution. Take a look at what fiscal 2009 is shaping up like:
I am estimating that total Treasury securities outstanding will close in on $12 trillion by
September, 2009. Using a guess of 2% GDP growth, the debt to
GDP ratio of the U.S. will jump to over 78.2%. For each dollar of debt added, GDP will climb only 19 cents.
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More Americans Are Saying No
to the FED & the National Debt!
Washington has bailed out the banks, Wall Street & their Washington special interests and much of the cost is added to the national debt to by paid by this and future generations while real estate and investments continue to fall. Find out what a growing repudiate the debt movement could mean for treasuries, the dollar, gold and mining shares.
The Campaign to Cancel the Washington National Debt By 12/22/2013 Constitutional Amendment is starting now in the U.S. See: http://www.facebook.com/group.php?gid=67594690498&ref=ts
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