As I am not an economist, I don’t know. But I got to believe that the cost to fund this illegal war putting America in debt and the associated devaluation of the US dollar has some correlation. Now about Bush, his administration and a Republican controlled Congress for 75% of his administration and he has no blame? Bull. Bush is as much to blame as the wall street greedy hos that will sell America to the highest bidder, as would Bush.
Quit making excuses for that sorry excuse of a President and let him shoulder the blame HE deserves.
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Who do you think financed the war? “This is the only war put entirely on a credit card.” two time Noble Prize winning economist Joseph Stiglitz, who calculated the cost of the war at $3 trillion +. There correlation lies in the fact that the government is running entirely on borrowed money and the interest is going over seas. So if all of that U.S. capitall is headed out of the country it devalues the dollar which is inflation, inflation is a tax on those that hold the currency, so if you need a loan from China and they know that they are goingto be paid in dollars which are going to be devalued by the time they get paid then the interest rate goes up on all future debt. This however is not the only reason for the current (and MUCH bigger future crisis) in America, the repeal of the Glass Steagall Act is the single biggest reason domestically which was carried out under Clinton and Greenspan. Both are complicit in the crime but people still want to point fingers and take sides when we should be demanding real leadership and true interest in saving the country instead of saving poor business practices.
Somebody in the White House has been borrowing a lot of money from China. Now our credit rating is in the toilet. Do you even know how much money a trillion dollars is? We have borrowed TRILLIONS from China. Now they own our butts! Our economy is bankrupt! We even borrow money to buy ammo from China to fight the illegal occupations in Iraq, and Afghanistan.
I has been estimated that this venture in Iraq will cost the US about 3 trillion dollars. America is borrowing from the Chinese to finance this disastrous attempt to conquer the Middle East. It is yet another weight on the taxpayer and it is hurting the viability of the dollar.
Who wants dollar denominated assets (like US stocks) when more $$ are getting printed to pay for this debacle?
There is a rather significant link actually…It involves the US borrowing into the next 50 years and basically printing money to pay the pointless war…
I’d elaborate…but clearly you’re just another mindless Republican lemming who has no interest in knowing the truth.
I don’t know…..can you think of anything better we can spend 10 billion a month on?…..because I can.
We’re funny?……YOU people are just sad…….I’d rather be funny.
~~~~~~~~absolutely not a damn thing~~~~~~~