Originally Posted by conan the librarian
Practically everyone on this forum is old enough to be getting screwed badly by the policies and practices resulting from having national debt taking the form of runaway inflation like this. All of your money and other assets are at greater risk than they would otherwise be. You are the target. Your interests are being swept aside to maintain high rates of uncontrolled spending and maintaining interest rates that won't bankrupt the government in the short term.
There is no political will to change the situation, and only a massive crisis will trigger any kind of change. And only then out of dire necessity...was the thanks Jimmy got for letting the Ayatollah take over in place of thebSAhah !
This good economy won't last. Improvements in the debt situation should be made now because they can't be made when somebody like Ben bernanke resumes printing money faster than the ink can dry.
Agreed; the debt has climbed since Pres Trump took office. The debt is what..22T or23T ! The only consolation is that our net worth so to speak, is 28.5 K and climbing.
Yes, there is a D-Day coming unless something changes...and we who are on a fixed income could be seriously hurt by inflation. Surely, most of us can recall the Carter/oil embargo days when interest rates rose to 20-21%.
Before that inflation hit, I had enough in a bank account to buy a second house outright. By the time it was over..that same money would about make a decent down payment on one.
That oil embargo by Iran and the rest of OPEC, was the thanks Jimmy got for essentially dumping the Shah in favor of the mad Ayatollah..
Oh yes..another stroke of gratitude from the Ayatollah, was taking captive of our entire Teheran embassy staff, and holding them for nearly a year and a half, until the election of R. Reagan freed them.
Yes; our spending is too high, but this president is the first one in my memory, to cut the useless departments in government.
Surely, defense is more important than "endowment for the arts", federal education dept. roadblocks,
or any other federal "pork programs".