The Debt Ceiling

[wacocowboy]

Very true TB

 

[Ryder]

In Australia we have lost all our manufacturing and rely heavily on our mining. To compensate for the loss of jobs the government has created so much red tape and beaurocracy to provide jobs. Like with all the work place health and safety requirements the officers think they would like an offsider to boss around so they sit down and make up some more rules so they need to get someone to help police them. Road crews have two trucks a couple of stop go people and a couple of supervisors even before you get to the actual workers. Counselling is another industry all to itself, there always seems to be a team of counsellors ready to come in as it seems people can't get over even the most minor bit of a traumatic incident by themselves these days. Don't get me started on the legal profession who supposedly "care", yeh they care allright about how thick their wallet is going to be.
All this is just holding up but with the mining boom coming to an end I don't know where all this funding of these pretend jobs is going to come from.
Ken

So we are not the only one in a "let's pretend" mess. :help:

 

[Caustic Burno]

We can thank LBJ he is the one that put buying votes into overdrive and built an express
lane on the corruption freeway.

CB I heard that ol' LBJ voted 4 times in the 2012 general election and 6 times in the school board election.

If it hadn't been for dead people he would have never gotten elected in Texas.

 

[larryshoat]

I think Inyati has the root cause of it about right, while waco has the solution!

I think it started before LBJ with the elimination of the gold standard, that enabled the printing of money with no tangible backing to it other than "a promise to pay".. that promise apparently didn't include a timeframe or things would have blown up in a big way before now.. perhaps it's still coming down the pike

It is still on the gold standard or oil what ever you want to pick .
The more the government prints the less its worth.

Exactly! I always ask people that preach the gold standard, how much should gold be worth? They never answer. In 1971 we bought a new truck for $2200, in 1975 we bought a new truck for $4500, on and on till present day we're at about $55,000. We could be on the pickup standard.

Larry