Geithner urges Congress to raise debt limit

Skybird · 01-07-11, 06:55 AM

http://www.nytimes.com/2011/01/07/bu...my/07debt.html

As a foreigner, once could really become angry. Is this the ultima ratio of American fiscal policy? Not to show any care fopr debts at all, drawing no serious consequences from one's inabiliuty to produce the money by oneself that oen needs for all the wonderful super-goodies and claims one wants to buy, and if money becomes short again - just print more or making more debts? Let's add some Greek statistics, and everything is fine again...?

Especially parents raising kids in America should stand up against this madness. It is, amongst many foreign parties, their kids that will be confronted with the messy consequences. It is them who will need to clean the kitchen once the party is over.

Not only the US but practically all Wetsern states were unable to run by the financial incomes they had even in boom yedars of the past, after the war. Now thew arguzment is one would pay back these debts once the economy has sprung to life again. But that is self-deception. The economic environment has chnaged far more hostile, due to new competitors, and outsourcing and relocation of national industries in the West. The circumstances are more difficult than in the past, and it is unlikely that it will ever be again like it was back then. So if the budgets were wasted and the money was not enough even at the best time of economic pasts, how much more insufficient will it ever be in the future that even when the current crisis should be overcome will never be as bright again as it has been, long time ago?

The simple truth is: America plans to never ever pay back its debts, nor do any other Western debtors seriously plan for that.

01-07-11, 06:55 AM	#1
Skybird Soaring Join Date: Sep 2001 Location: the mental asylum named Germany Posts: 42,621 Downloads: 10 Uploads: 0	Geithner urges Congress to raise debt limit http://www.nytimes.com/2011/01/07/bu...my/07debt.html As a foreigner, once could really become angry. Is this the ultima ratio of American fiscal policy? Not to show any care fopr debts at all, drawing no serious consequences from one's inabiliuty to produce the money by oneself that oen needs for all the wonderful super-goodies and claims one wants to buy, and if money becomes short again - just print more or making more debts? Let's add some Greek statistics, and everything is fine again...? Especially parents raising kids in America should stand up against this madness. It is, amongst many foreign parties, their kids that will be confronted with the messy consequences. It is them who will need to clean the kitchen once the party is over. Not only the US but practically all Wetsern states were unable to run by the financial incomes they had even in boom yedars of the past, after the war. Now thew arguzment is one would pay back these debts once the economy has sprung to life again. But that is self-deception. The economic environment has chnaged far more hostile, due to new competitors, and outsourcing and relocation of national industries in the West. The circumstances are more difficult than in the past, and it is unlikely that it will ever be again like it was back then. So if the budgets were wasted and the money was not enough even at the best time of economic pasts, how much more insufficient will it ever be in the future that even when the current crisis should be overcome will never be as bright again as it has been, long time ago? The simple truth is: America plans to never ever pay back its debts, nor do any other Western debtors seriously plan for that. __________________ If you feel nuts, consult an expert.