maple_leafs182

Ron Paul does address the debt problem and luckily it seems like America is finally waking up to his message. Ron paul just finished in 2nd place at the Iowa straw poll and was less then 200 votes be hind Michelle Bachman who came in first. BC, you still think Paul has no chance at ever becoming president.

The system works but barely...the system is also rigged to benefit the corporations and banks over the general public. In a capitalist market you wouldn't be bailing out people who defaulted on there debts. I never had a say in what the Canadian Government spent its debt on, most citizens of any country don't have a say in what their government spends their money on. Governments are inefficient, reckless and can't be trusted, you need a safe guard like a gold standard to prevent governments from taking on so much debt. You don't have to cry about it but you should at least understand how borderline retarded the current global economic system is. The next great depression has started, many innocent people in many countries are the world are already suffering as a result of this system. Look at all the rioting and uprisings that are going on around the world, its because the economy is going to hell. I know you guys keep saying that this current system is responsible for the increased standard of living we have, if that is true, which i disagree...its all not worth it, all the pain we are creating around the world isn't worth the trade off.

Easy credit was given to people threw margin loans so they could gamble on wall street. A gold standard is when a currency is tied to gold, it limits the ability for governments to overspend and go into debt. As for the UK, I am sure they piled on a boat load of debt in order to fight WWI. Yes going back to a gold standard right after that would of been bad because there wouldn't be enough money circulating around the economy to service all that debt. England wouldn't of been able to stimulate the economy like the Fed and other central banks are doing now. Now look at the current system we have with fiat currencies, we are enslaved to a system of debt, countries are being brought down because of their debts. We have become dependent on banks and corporations for our livelihood, our success is dependent on their success. If they fail we bail them out, if they succeed they keep the profits. Debt is the problem, not the gold standard, a system that operates on debt can never work.

nope, easy credit of the 20's led to the depression, easy credit now is leading to the new depression.

I don't know too much about Rick Perry, I just found out he existed from this thread...I think Perry will support the status quo considering he said Guliani was the best choice for president in '08. If you want someone from Texas, go with Ron Paul. He will get support from the Tea Party considering he started the Tea Party or the Tea Party started around him.

I like this quote from Andrew Jackson "Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves." -Andrew Jackson The Dow is getting killed again, can you guys smell QE3?

I think that is what needs to happen too. Maybe not the actual people but this political economic structure we use needs to die, it creates too many problems and its solutions usually lead to bigger problems.

I think that Libya should arm and fund the British Rebels...

I wish I could be that optimistic, I don't believe the US has a decade or so. I know it would of been devastating if the US would have not increased the debt ceiling and the US defaulted but I think it would of been better then the US piling on more debt and pushing the problem down the road to a later date. I think at the pace the US is going at now, they are setting themselves up for a rejection of the US dollar as the worlds reserve currency which will be an even bigger problem and more devastating then if they had just defaulted now.

I wanna ask a question, do you think raising the debt ceiling was a good thing?

The fundamentals of the economy have just gotten worse since 08. The Fed throwing trillions of dollars into the economy only temporarily brought it back up, it didn't fix any of the problems. If the Fed does that again which I believe it will, then yes it might be a good idea to buy stocks but I think you would be safer buying gold and silver. There will be a point where pumping trillions of dollars into the economy won't be effective. I still believe that the greatest depression started in '08 and we are still in it.

markets are tumbling, silver and gold are rising, good thing i bought silver...

Ya, I really don't care too much either. Well I do, but its hard to when I don't support any of the major parties and the independents that run in my area aren't any better.

When you say Americans you mean in general right, cause I am sure you care a bit since you are on a Canadian political forum.

The reason why he was so successful in predicting future events is the same reason why he wants a gold standard. It's his understanding of Austrian economics and the business cycle.

It has nothing to do with being anti-american. Obama is no different then Bush, it is as if Bush had a third term. The only difference is if Bush was still president the liberals would be screaming bloody murder over the wars Obama started but since its a democrat they turn a blind eye, after all, when a democrat orders people to kill it's humanitarian. I never rooted for Obama, I saw past the lame campaign slogan.

Well if you want people who tell the truth there is Ron Paul but you think he is a clown. Then there is Ben Bernake who said the economy was in good shape in 2008 yet people still listen to him. But I kind of agree with you, I don't care what these rating agencies rate, I think for myself and make my own calls, I would of downgraded the US bonds a long time ago.

I wonder how the markets will respond on Monday.

Ya, Harper is garbage, along with most of our MP's. I don't approve of my government either.

Ya, you're right, the people you voted in are doing a top notch job, can't get much better then what you got now.

If I could I would vote for her over McCain or Obama.

I bet that they will have to raise it again before then.

How long until they reach the ceiling again, did they say?

Tell me why I should support them?

Alright, i guess time will tell. Also, the US dollar is the worlds carry trade currency so it will see initial strength in the event of an economic downturn, people will need to buy dollars to pay off their dollar based debts.