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June 10, 2011 in Campaign 2008, Campaign 2010, Campaign 2012, Capitalism, Economy, Politics, socialism, Uncategorized | Tags: China, default, Dollar, US Dollar, US TReausries, Washington | Leave a comment
A Chinese ratings house has accused the United States of defaulting on its massive debt, state media said Friday, a day after Beijing urged Washington to put its fiscal house in order.
“In our opinion, the United States has already been defaulting,” Guan Jianzhong, president of Dagong Global Credit Rating Co. Ltd., the only Chinese agency that gives sovereign ratings, was quoted by the Global Times saying.
Washington had already defaulted on its loans by allowing the dollar to weaken against other currencies — eroding the wealth of creditors including China, Guan said.
November 24, 2010 in Campaign 2008, Campaign 2010, Campaign 2012, Capitalism, Economy, Family values, Politics, socialism, Uncategorized | Tags: Depression, Dollar, dollar valuation, economic recession, US Dollar | Leave a comment
June 26, 2010 in Campaign 2008, Campaign 2010, Campaign 2012, Capitalism, Economy, Family values, Health care reform, immigration reform, Politics, socialism, Uncategorized | Tags: austerity, economics, G-20 Summit, retirement, Social Security, US Dollar | 2 comments
Here’s a wake-up call from Gary North of the Ludwig von Mises Institute on why our idea of retirement will turn out to be a cruel joke. A few quotes:
Social Security will go bankrupt…The average American is going to have a miserable retirement. There’s not much a recent retiree can do. They’ve walked into the trap and it has sprung on them. The greatest losers will be widows, who are almost completely unprepared for what will take place. For most children there will be no inheritance, and parents may become an economic liability on them years before they’re prepared.
for full article: http://dollarcollapse.com/articles/classic-videos-retirement-armageddon/