In response to:

Push the Fed Over the Cliff

Mary218 Wrote: Dec 03, 2012 8:09 AM
The US spent 50 years fighting a Cold War against the spread of communism, but every year took more control of the economy and people's lives, until now we are the modern version of the USSR. Only gulags are missing. No politician in the Soviet Union believed it could fail, except Yeltsin and Gorbachev. When it collapsed, it took down the Russian ruble. We are probably at the Gorbachev period, and we need to look to state and local governments to handle the coming bankruptcy. It isn't the end of the world, but is is the end of the US as it has morphed over the past 100 years of statism.
sparcboy Wrote: Dec 03, 2012 9:05 AM
The U.S. currently has about $80 Trillion in long-term unfunded liabilities. The current economy can't go on. Argentina is in good shape now, but years ago they printed money like crazy and paid everything off for the equivalent of pennies on the dollar. The U.S. should do that now, get it over with, and start the path to recovery with clean slate. The longer we wait, the more it's going to hurt.

Stop worrying about the ‘fiscal cliff.’ Spending cuts would feel therapeutic after watching Standard & Poor's and Egan-Jones downgrade our credit rating and seeing President Obama add $6 trillion to the national debt. The way to avert another recession and massive inflation is to eliminate the unconstitutional Federal Reserve.

There are two ways for politicians to “pay” for their spending. They can be transparent and raise taxes extremely high across all income levels. (This is not happening because politicians know Americans would riot.) Or, they can be sneaky and “monetize the debt,” which means allowing the Federal Reserve to print money...