ANSWER to US ECONOMIC GROWTH: an IDIOT PROOF INDICATOR

[Jeffersons Ghost]

First look at our current National debt to the penny as of June 15, 2006: It's

$8,337,290,510,783.04

which is well over $8 TRILLION

Then, consider the value of the universal international currency gold:

Before the U.S. House of Representatives, April 25, 2006

The financial press, and even the network news shows, have begun reporting the price of gold regularly. For twenty years, between 1980 and 2000, the price of gold was rarely mentioned. There was little interest, and the price was either falling or remaining steady.

Since 2001 however, interest in gold has soared along with its price. With the price now over $600 an ounce, a lot more people are becoming interested in gold as an investment and an economic indicator. Much can be learned by understanding what the rising dollar price of gold means.

The rise in gold prices from $250 per ounce in 2001 to over $600 today has drawn investors and speculators into the precious metals market. Though many already have made handsome profits, buying gold per se should not be touted as a good investment. After all, gold earns no interest and its quality never changes. It’s static, and does not grow as sound investments should.

It’s more accurate to say that one might invest in a gold or silver mining company, where management, labor costs, and the nature of new discoveries all play a vital role in determining the quality of the investment and the profits made. Buying gold and holding it is somewhat analogous to converting one’s savings into one hundred dollar bills and hiding them under the mattress – yet not exactly the same. Both gold and dollars are considered money, and holding money does not qualify as an investment. There’s a big difference between the two however, since by holding paper money one loses purchasing power. The purchasing power of commodity money, e.g., gold, however, goes up if the government devalues the circulating fiat currency. http://www.lewrockwell.com/paul/paul319.html

Now you are done because the price of gold has soared from

$250 in 2001 to over $600 per ounce today.

Figuring how much your DOLLARS are worth is an easy way to determine the success of current leaders in DC.

Will that be cash or charge sir/ma'am? Please don't forget to tip your server.

[no_hypocrisy]

1. Where does Idiot Son think we're gonna get the revenue to pay off that

sucker?

He knows, but he won't hold a press conference, a television address, or use his Saturday hostage-of-the-airways to tell the public that this is the anyone-but-rich's estate tax on our children, our grandchildren, and our great grandchildren. That's why he can spend this money on Iraq like a drunken sailor with free credit.

[Jeffersons Ghost]

2. check the OP again, no_hypocrisy... i accidently hit "post" nor "preview"

I fixed it on edit.

[no_hypocrisy]

3. Gotcha. Thanks.

[Jeffersons Ghost]

4. geez, finally fixed it... I'm resolving to NEVER post before my first cup!

[Virginia Dare]

5. It's all part of the plan...

bankrupt and fully privatize the federal government. Leave the people begging for any shit job the corporations deign to hand out, alternatively buck up and join the military. Leave the mess for the "next guys" to figure out.

Meanwhile Bush, Cheney and all of their rich buds laugh all the way to the bank.

[Jeffersons Ghost]

6. that pretty much sums it up Virginia... how's your morning going?

This is ALSO a great answer to people who defend Republican policies, with claims of economic growth heading into November.

[Virginia Dare]

7. Yep,

when you look at the investment that "these people" have made into getting Bush installed into power(twice), the return on their investment is going to be phenomenal.

It's going pretty good, but I've got to get off this computer and get some work done!

:hi:

[Jeffersons Ghost]

8. you inspired me to get housework done too but then I got other inspiration

when I dropped an open ketchup bottle. It hit the floor like a dropping US DOLLAR! I shouldn't do housework before my second cup I guess.

[Jeffersons Ghost]

11. afternoon kick

:kick:

[Toots]

9. We are INCREASING our DEBT at over a hundred thousand dollars a second

That Debt Clock is just a blur...

[Jeffersons Ghost]

10. thanks for that Toots... are we borrowing even more money or...

simply not paying the interest? Would my OP have been better, if I'd offered how much the price of gas and heating fuels have gone up since the current Republican leadership took control of government? Who knows how much gas has increased since 2,000?

[Toots]

12. We are paying interest on our debt of over a half million dollars a minute

and Climbing. We are spending/charging a hundred thousand dollars a minute just on war. Just think what we could be spending our money on instead.....

[Rainscents]

13. Here is link to my post from Asian Times on this subject...

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=364x1453023

Rainscents Donating Member (1000+ posts) Journal Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Sat Jun-17-06 11:59 PM
Original message
The Expected USA Financial Fall

Under Greenspan, the US had amassed $44 trillion of debt by 2005: $10 trillion by the federal government, $2 trillion by state and local governments, and $34 trillion by the public sector, of which the business sector held $8.3 trillion, the finance sector held $12.5 trillion and the household sector held $11.5 trillion. In addition, the United States faces an unfunded contingent liability of $7 trillion in Social Security and $37 trillion in Medicare obligations. The Greenspan debt monkey is 10 times as large as Mellon's after adjustment for inflation. The delayed but unavoidable bursting of Greenspan's debt bubble will make the 1930s Depression look like a minor storm. More...
http://www.atimes.com/atimes/Global_Economy/HF17Dj01.ht...

This is an amazing TOTAL of $88 TRILLION!!

:wtf: :wtf: :wtf: :wow: :wow: :wow: