Pat Buchanon: Is America's financial collapse inevitable?

[flintlock]

The situation summed up nicely.

http://www.wnd.com/index.php?fa=PAGE.view&pageId=122030

Consider. The five largest elements in the budget are Social Security, Medicare, Medicaid, defense and interest on the debt.

With interest rates near record lows, and certain to rise, and back-to-back $1.4 trillion deficits, this budget item has to grow and has to be paid if the U.S. government is to continue to borrow.
Second, with seniors on fire against Medicare cuts in health-care reform, it would be fatal for the Obama Democrats to curtail Social Security or Medicare benefits any further this year. Next year, they will not only lack the congressional strength but any desire to do so, after their anticipated shellacking this fall.
The same holds true for Medicaid. The Party of Government is not going to cut health benefits for its most loyal supporters. Indeed, federal costs may rise as state governments, constitutionally required to balance their budgets, cut social benefits and beg the feds to pick up the slack.
This leaves defense. But the president is deepening the U.S. involvement in Afghanistan to 100,000 troops, and the military needs to replace weaponry and machines depreciated in a decade of war.
Where, then, are the spending cuts to come from?

Is this Democratic Congress, which increased the budgets of all the departments by an average of 10 percent, going to take a knife to federal agencies or federal salaries, when federal bureaucrats and beneficiaries of federal programs are the most reliable voting blocs in their coalition?

Misspelled Buchanan sorry.

[BigBagel]

Re: Pat Buchanon: Is America's financial collapse inevitable?

The situation summed up nicely.

http://www.wnd.com/index.php?fa=PAGE.view&pageId=122030



Misspelled Buchanan sorry.

Buchanan is a kook in some of his positions but he's one conservative that is against our interventionist military policies. He's also someone that actually thinks we need a manufacturing sector.

[cindykimlisa]

Re: Pat Buchanon: Is America's financial collapse inevitable?

[quote=flintlock;143945]The situation summed up nicely.

http://www.wnd.com/index.php?fa=PAGE.view&pageId=122030



Thank you for the good read and post and I agree it sums up much nicely.

Nevertheless, I think we are in an era where things can and wil be done differently behind the scenes.

I have not forgotten about Ka poom. I think we are within a regulated ka poooooooooooooooooooooooooooooooooooooom now - Only my intuition based on many observations.

Here is basically what I think is happening and why. Perceived value is being pushed into the stock market on a dollars a day basis and thats the way the Geit/Bern/Obam/and GS like it and desire to try to manage it. I think it is being managed with after hours future trades using govt funds which they have authotity to use.

What could really be more ideal than this? Fiat money value is going in on a controlled basis and some folks along the way are going to start to take out some of that fiat value out in the form of cash and spend it. But my guess is that the big plan is for the DOW to keep going up on a consistent basis for a long time - this will help most everthing and most everybody in theory and on paper. Many who do not think critically will see this as success and the Dems could have an extra four years in office if it works and it seems to be working to me. They gotta get that pooooooooooooooooom going and they are and will.

Along the way the Oligarchs will find some ways to get more than their share.

A lot of people are saying buy and hold is over. I disagree but I think you will be best suited to buy and hold dividend aristocrat stocks and then pay attention to when you need to offload some or all of your holdings. This is coming from someone who has not bought stocks since 1972. But I am going to buy in 2010 for me and my 5 year old grandson - probably coke/JNJ/WM/MCD and probably sooner rather than later. No gold but maybe silver - already have silver.

My long term thesis is work hard/make a lot of money/understand accounting and the tax code/help others/retire early/minister to and serve others in need/protect yourself against Pooooooooooooooooooooooooom by using critical thinking and mayby make some money off of Poooooooooooooooo.

Cindy

Cindy

[Serge_Tomiko]

Re: Pat Buchanon: Is America's financial collapse inevitable?

Buchanan is a kook in some of his positions but he's one conservative that is against our interventionist military policies. He's also someone that actually thinks we need a manufacturing sector.

I was so inspired by your Big Bagel handle.

How, pray tell, is he a kook? Certainly, his predictions have held up remarkably well. While I'm not religious, and don't support his views on abortion, I can think of no other view he holds that could be considered kooky.

[shiny!]

Re: Pat Buchanon: Is America's financial collapse inevitable?

Here's a letter I sent to the editor at World News Daily in response to Buchanan's column. I learned about this from Bill Still's film, "The Secret of Oz", and Nathan's Economic Edge. It seems logical and do-able to me, but the people in this forum are way more savvy than I am. I'd appreciate any opinions that would poke holes in this idea, showing why it wouldn't work. Or do you think it would?

In his January 14, 2010 article entitled, "Is America's
financial collapse inevitable?" Pat Buchanan wrote:

"How does one stop the exploding national debt from surging
above 100 percent of GDP?"

Simple. The government stops borrowing. We stop allowing the
Federal Reserve, a PRIVATE banking consortium that does not
pay taxes, to print our money and loan it to the government
at interest. Instead, the U.S. Treasury prints and issues
our currency directly, WITHOUT INTEREST. We go back to
using U.S. Treasury Notes instead of Federal Reserve Notes.

The Constitution authorizes the government to create money,
so why isn't it doing so? As it stands now, every dollar
issued is issued with interest due, requiring more money to
be printed (with more interest due) to cover the interest.
This is a giant ponzi scheme that is now in collapse. If
our government would get back in the business of creating
its own currency, instead of borrowing it from the banks,
we would stop accumulating interest on the national debt.

Our tax dollars would return to the U.S. Treasury, rather
than going to the PRIVATE Federal Reserve Bank. Banks
should return to their historical role of managing
investors' savings and checking accounts and giving loans,
rather than being the creators of currency.

This was very successful during the Colonial years, and
Abraham Lincoln did it to finance the war, without
interest. In both cases the economy grew well and the
people prospered, without interest accruing on the debt.
The only ones who didn't get fat were the bankers.

Once the government is back in the business of creating its
own money, Congress will be forced to work within a budget.
Issuing too much money in order to cover growing
obligations will create inflation. Citizens will hold
Congress directly responsible for any inflation, and as a
result, politicians will once again be accountable to
voters, instead of to the banking lobby.

[BigBagel]

Re: Pat Buchanon: Is America's financial collapse inevitable?

I was so inspired by your Big Bagel handle.

How, pray tell, is he a kook? Certainly, his predictions have held up remarkably well. While I'm not religious, and don't support his views on abortion, I can think of no other view he holds that could be considered kooky.

I think he's got a "Jewish thing" and despite the fact that the bagel is a product of Jewish culture I'm not Jewish. I am a New Yorker though. Lenny Bruce said he considered all New Yorkers to be Jewish.

[Serge_Tomiko]

Re: Pat Buchanon: Is America's financial collapse inevitable?

I think he's got a "Jewish thing" and despite the fact that the bagel is a product of Jewish culture I'm not Jewish. I am a New Yorker though. Lenny Bruce said he considered all New Yorkers to be Jewish.

Well Bagel, I suppose I have a "jewish thing" too. Their babes can be pretty wild in the sack at times. I mean, it's not that kooky. It's big town, no?

I don't even know who Lenny is, but this New Yorker doesn't think too much about such tribal matters. I'm just tryin' to get some action!

[cjppjc]

Re: Pat Buchanon: Is America's financial collapse inevitable?

Well Bagel, I suppose I have a "jewish thing" too. Their babes can be pretty wild in the sack at times. I mean, it's not that kooky. It's big town, no?

I don't even know who Lenny is, but this New Yorker doesn't think too much about such tribal matters. I'm just tryin' to get some action!

You put alot of thought into these posts don't you?

[BigBagel]

Re: Pat Buchanon: Is America's financial collapse inevitable?

"I don't even know who Lenny is"

You have to read his book "How To Talk Dirty and Influence People".

[flintlock]

Re: Pat Buchanon: Is America's financial collapse inevitable?

Well Bagel, I suppose I have a "jewish thing" too. Their babes can be pretty wild in the sack at times. I mean, it's not that kooky. It's big town, no?

I don't even know who Lenny is, but this New Yorker doesn't think too much about such tribal matters. I'm just tryin' to get some action!

[MEDIA][/MEDIA]

[ThePythonicCow]

Re: Pat Buchanon: Is America's financial collapse inevitable?

Something got lost in the translation, flintlock. Try this:

[Fiat Currency]

Re: Pat Buchanon: Is America's financial collapse inevitable?

...
Once the government is back in the business of creating its
own money, Congress will be forced to work within a budget.
Issuing too much money in order to cover growing
obligations will create inflation. Citizens will hold
Congress directly responsible for any inflation, and as a
result, politicians will once again be accountable to
voters, instead of to the banking lobby.

You were perfect until here. :eek:

Sorry. You asked.

[stanley2008]

Re: Pat Buchanon: Is America's financial collapse inevitable?

[quote=cindykimlisa;144012]

The situation summed up nicely.

http://www.wnd.com/index.php?fa=PAGE.view&pageId=122030



Thank you for the good read and post and I agree it sums up much nicely.

Nevertheless, I think we are in an era where things can and wil be done differently behind the scenes.

I have not forgotten about Ka poom. I think we are within a regulated ka poooooooooooooooooooooooooooooooooooooom now - Only my intuition based on many observations.

Here is basically what I think is happening and why. Perceived value is being pushed into the stock market on a dollars a day basis and thats the way the Geit/Bern/Obam/and GS like it and desire to try to manage it. I think it is being managed with after hours future trades using govt funds which they have authotity to use.

What could really be more ideal than this? Fiat money value is going in on a controlled basis and some folks along the way are going to start to take out some of that fiat value out in the form of cash and spend it. But my guess is that the big plan is for the DOW to keep going up on a consistent basis for a long time - this will help most everthing and most everybody in theory and on paper. Many who do not think critically will see this as success and the Dems could have an extra four years in office if it works and it seems to be working to me. They gotta get that pooooooooooooooooom going and they are and will.

Along the way the Oligarchs will find some ways to get more than their share.

A lot of people are saying buy and hold is over. I disagree but I think you will be best suited to buy and hold dividend aristocrat stocks and then pay attention to when you need to offload some or all of your holdings. This is coming from someone who has not bought stocks since 1972. But I am going to buy in 2010 for me and my 5 year old grandson - probably coke/JNJ/WM/MCD and probably sooner rather than later. No gold but maybe silver - already have silver.

My long term thesis is work hard/make a lot of money/understand accounting and the tax code/help others/retire early/minister to and serve others in need/protect yourself against Pooooooooooooooooooooooooom by using critical thinking and mayby make some money off of Poooooooooooooooo.

Cindy

Cindy

Stock symbol MO (Altria - Philip Morris) pays a nice dividend and is quite stable. And don't forget last year big tobacco got a law passed that effectively eliminates any newcomers from entering the cigarette industry.

[Slimprofits]

Re: Pat Buchanon: Is America's financial collapse inevitable?

he's one conservative that is against our interventionist military policies.

Did someone ask why Buchanan and the rest of the old paleo-conservatives have been tossed aside by the GOP and the War on Terror Republicans of this decade?

Well BigBagel provided the answer. This is why Pat doesn't get a show on Fox News, but someone like a Huckabee does.

Pat is not a member of the War Party.

[shiny!]

Re: Pat Buchanon: Is America's financial collapse inevitable?

Originally Posted by shiny!
...
Once the government is back in the business of creating its
own money, Congress will be forced to work within a budget.
Issuing too much money in order to cover growing
obligations will create inflation. Citizens will hold
Congress directly responsible for any inflation, and as a
result, politicians will once again be accountable to
voters, instead of to the banking lobby.

You were perfect until here. :eek:

Sorry. You asked.

Don't be sorry. Care to elaborate a bit?

My thinking is that even if Congress shows poor fiscal restraint, which is very likely, we would at least not be producing more debt with every dollar printed because the gov't wouldn't be borrowing those dollars. So wouldn't we be better off in this scenario than we are now? If not, why not?