Obama, unfortunately, cracks me up...
"President Barack Obama, calling current deficit spending 'unsustainable,' warned of skyrocketing interest rates for consumers if the U.S. continues to finance government by borrowing from other countries.
'We can’t keep on just borrowing from China,' Obama said at a town-hall meeting in Rio Rancho, New Mexico, outside Albuquerque. 'We have to pay interest on that debt, and that means we are mortgaging our children’s future with more and more debt.”
The State is Ridiculous! What's so aweful is the Federal Reserve will be having to fork over even more bailouts to those banks that the stress test indicated. Meanwhile Bernanke is talking about how the bank stress tests didn't reveal everything and there are internal problems with those banks that still need to be addressed. So they will go into even more debt as Obama comes out and says this!
Yeah, the State is awful, ridiculously awful.
So.....he shouldn't have asked to borrow, maybe?
It's sorta like getting dieting advice from Sally Struthers.
"Anticapitalist theories share in common an inability to take human nature as it is. Rather than analyzing man as a complex creature, anticapitalist theories tend to focus on what the theorist wishes man to be." - Isaac Morehouse
Tax? No.Borrow? No.Printing press? Si!
To paraphrase Marc Faber: We're all doomed, but that doesn't mean that we can't make money in the process. Rabbi Lapin: "Let's make bricks!" Stephan Kinsella: "Say you and I both want to make a German chocolate cake."
Knight_of_BAAWA: So.....he shouldn't have asked to borrow, maybe?
Exactly! But would we expect anything else from the State, nope.