Political Crossfire Forums

Rocky times ahead.

Guys, banks are people and we have to take care of our most important people. F*** students if they can't pay. Jail them.

This is pretty much the main problem I've had with the "modern" economy. Sure, there are problems with fiat currency. Sure, having a resource backed currency avoids those problems (with a list of other problems). But the truth of the matter is that any system can be done wrong. And our debt based economy to me, is doing it wrong. It seems that all of the wealth we generate is for yesterday and we have to hope that tomorrow, they generate enough wealth for today. If anything goes seriously wrong, we are in for a terrible cascading failure. Either we fly the bird and protectionist up, or we eat crow and grovel out of our debts.

I still feel pretty good about murka. Being the reserve currency gives us a huge margin for error on debt:GDP ratios that no other country has.

Not even the us can withstand a global downturn. And fiscal debt levels are not the concern here, monetary policy is. The fed, like every other central bank, is out of ammo