On 26/07/2011 12:01 PM, Florida Jim wrote:
http://www.bbc.co.uk/news/world-us-canada-14296843

If Christine Lagarde calls US banking debt a fraud, she would instantly
get my support. But could be just grandstanding.

Americans should know, the world does not see it like Anderson 360
Liberal mania and debt welsher denial. They see USA as the problem.
Too much ponzi debt and currency fraud.

Which it is. But US media has a pro-Obama bias that is quite myopic and
fleabagger orientated. Just feed the greed for more debt.

USD is down again against Canada, China, Brazil and India. If this 2
month decline continues, by Christmas your toast. It means the
inflation wave hitting you is 50%/year or higher. With that inflation,
people will have to buy less and employ less and may send real
unadjusted unemployment over 30%. Needless to say, further damaging
government revenues.

That may be optimistic view, as what happens if the world dcides to sump
the US currency as the world reserve currency? In which case, forget
Greece, Iceland comes to the US.

Fact is, USA is out of credit. Credit here in is going to cost in
interest rates or hyper-stagflation....a nasty no win.

Obama has destroyed the American dream with debt.

"America will never be destroyed from the outside. If we falter and lose
our freedoms, it will be because we destroyed ourselves."
-- Abraham Lincoln
--
Obama, enslaving Americans with debt-tax slavery for a spending binge.
Doesn't even borrow real money, Bernanke just creates it like a
counterfeiter. .