Looks like we've begun to monetize our debt over the past couple of months. Good Job Bernanke.. Good Job Geitner. I guess our debt was a wee bit more than what you tools wanted to tell us.. yes? Funny how just 1 year ago you both are on all the news programs explaining how there is no way the Fed would ever attempt to monetize the debt, you even testified before a congressional hearing earlier this spring under oath that this would never happen. Fuggin liars. It all started by saving Fannie & Freddie now it's worse and you've decided to try to hide it.
All the other Countries holding our debt finance notes are about to get pissed - their investments are quickly turning into nothing but paper hardly worthy of wiping your ass or blowing your nose with. For the first time ever the demand in US treasuries from Countries abroad is plummeting, which any 8th grade economics student can tell you will drive up the interest rates. Gee.. I guess that means imported goods prices into the US will RISE since the dollar is worth jackshit which means .. um duh, inflation and ultimately higher interest rates to cover it. Meanwhile people don't want our money or goods anymore because it's too damn expensive to buy and way too damn risky to hold onto.
When are we finally going to realize that the needs of the few do not outweigh the needs of the many? How much longer do we want to continue to fund all these damn handouts and entitlements? How long did we think we could continue handing money out to those who are less fortunate? Hrm? It's all been fun and games with the class warfare. The politicians have successfully made greed and prosperity a target for those who don't have as much. Go ahead blame the people with money, sure, but those with money are what drive the economy - how can the poor drive the economy when they have nothing to contribute?
America is the land of opportunity.. not the land of the financially equal. There are and always will be the less fortunate in the USA, but in this day and age nothing is stopping them from becoming as wealthy as they want to be. Bad things happen to people, some will never amount to much of anything, some are less fortunate - everybody will not do well - it's a fact of life. The sooner we admit this to ourselves the better off we'll be.
Hold on to your asses people.. this is gonna get ugly.