I had the benefit of knowing a family who immigrated from Russia some time after the economy collapsed there. I asked the wife: “What did people do when that happened? People MUST have lost their houses, their jobs, their property!”
Her answer was that people just ‘stayed put.’ Not only did no one have any money to move, the authorities had no money to remove people. There was no money to foreclose or repossess.
Last year, our dollar was worth $.04 of what it was when the gold standard was dropped.
Where can it go except to $.00 with all these fabulous moves of our government to send us back, temporarily, a little money; with Bernanke creating more inflation with drops in interest; with the government pumping Russian money into our economy by selling off assets?
When we hit ZERO, we are bankrupt. I suggest we’re there already, thanks to these recent ‘solutions’.
We’ve been told for years that change would mean some pain and sacrifice, and because of that there was no political ‘will’ to force those changes.
We’re now facing the kind of pain that the world has never experienced before.
Too bad people are more interested in voting for a rock star like Barak Obama, who is entirely ignorant of economics and wants to add unbelievable amounts to our current spending instead! Where, exactly, will he get that money from?
We need someone who understands economics, like Ron Paul, who is also courageous enough to tell us that, one way or another, there will be pain. Healing pain, or catastrophic death-dealing pain- we’re going to get one or the other.