CYA Highland Woodworking

Hardly an objective assessment. It also points out that the rest of the country has similar budgetary problems, as does the federal government almost all of which can be attributed to the bush tax cuts and two wars.

scott

Reply to
Scott Lurndal
Loading thread data ...

Soooo, you agree that California and the US are bankrupt, but it's all Bush's fault.

Reply to
Doug Winterburn

------------------------ Over extended, yes, bankrupt, no.

Bush's fault, that will work for some of it, but Reagan gets most of it.

Lew

Reply to
Lew Hodgett

Lets not forget Jimmy Carter, the peanut farmer that introduced us to trillion dollar debt!

Reply to
Leon

12 billion in the hole.
Reply to
Markem

that was Bushs fault, too

Reply to
ChairMan

You're all barking up the wrong tree.

It's easy to blame the current admin, but after reading the Ron Paul book the case for Gold it is clear that this goes way back.

It's been going on in the US since before we were a country. The most egregious thing that occurred in recent time is when Nixon took us off the Gold Standard and money no longer meant anything. Inflation (printing of money basically) went off the charts. This occurred in 1971 and in 1976 was made law.. Before that it was against the law... History shows that every time politicians decided to put aside gold transfer, or to print money that didn't match our gold reserves, we created havoc. The book is a historical walk through very sordid affairs. I have lost all respect for our banking system, which seems to cheat the common man out of money over and over.

As far as modern times Nix> >>> Soooo, you agree that California and the US are bankrupt, but it's

Reply to
tiredofspam

Neither california nor the US are bankrupt[*]. The current budgetary woes are caused by a combination of the bush tax cuts[**], repeal of glass-steagle and a shitload of deficit spending due to fighting two simultaneous wars.

scott

[*] Feel free to look up the definition of the word bankrupt. Newt just went bankrupt. California is not bankrupt. [**] for which one must blame both congress and the former president bush.

scott

Reply to
Scott Lurndal

My memory of his is a bit more affectionate, like 15% (and more) interest rates.

Reply to
Ed Pawlowski

and don't forget the gas lines

Reply to
ChairMan

I particularly liked his gas crises and disavowment of nuclear energy. Whadda maroon!

-- When a quiet man is moved to passion, it seems the very earth will shake. -- Stephanie Barron (Something for the Powers That Be to remember, eh?)

Reply to
Larry Jaques

The current budgetary woes are caused by every one in government office and those that seem to think a particular person is to blame.

When you blame some one else and don't do anything to correct the problem your self you are as much to blame as the problem.

Reply to
Leon

Hoping you are saying that with tongue in cheek. ;~)

15% interest rates are only good for the wealthy that have more money that they will ever spend. High interest rates are the way the government deals with out of control inflation.

Unfortunately, you have $1000 earning 15% interest per year. At the end of the year your $1150 will now only buy what $900 would have bought 1 year prior.

That was an exaggerated example but high interest rates only attempt to help your money keep its value.

Reply to
Leon

Any my all time favorite, America's best days are behind her. What an optimist! To win you have to think like a winner.

Reply to
Leon

The term "bankrupt" has undergone the same corruption as the term "minority", thanks to blurring of distinctions by our legal system.

"When plunder becomes a way of life for a group of men in a society, over a course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it."

Frédéric Bastiat, Economic Sophisms [1845]

For all practical purposes you are bankrupt when you can't repay your creditors. To maintain otherwise is to be morally bankrupt yourself.

Reply to
Swingman

If you'll remember those gas lines were not political in nature, but greedy bastards in the oil industry. What they did was treasonous, illegal.

Reply to
tiredofspam

The whole country is F'd by the ability of the politicians to print money. When the govt is the debtor, and they hold the debt there is something wrong.

Everytime they print money our self worth becomes less. And fixing it becomes less obtainable.

Reply to
tiredofspam

There is no moral difference in this:

formatting link
bankruptcy filing for Jefferson county, al)

and California, only a paper difference.

Both caused by corrupt self serving politians, Alabam would be better off if Jefferson county were cored out of the middle and discarded.

basilisk

Reply to
basilisk

The U.S> Government does not print money. The Federal Reserve Bank does that. And the Federal Reserve Bank is a private corporation not run by politicians. We're still screwed, but we should be clear about who is the screwer.

Reply to
Just Wondering

If you think the screwer is the Fed (the "Federal Reserve", not the Federal Reserve Bank), you are not paying attention. Although, they deserve some of the credit, in recent years, for articially keeping the Fed Funds Rate (the rate that commercial banks can borrow at)so darn low, which tranlates into 1% rates on CDs, etc.

Reply to
Bill

HomeOwnersHub website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.