Quote:
Originally Posted by Maat222
The way it works is that you don't tax this generation, but just pass it on to the next one.
But it may work, if we can get the economy back up to productivity so that the next generation will be able to afford it.
It is sort of debt reduction by inflation.
Yes, Bush was probably also a puppet, in which case what he did was intentional.
But you should not be happy about getting Iraqi oil, because the people pulling the strings are not going to share that with us.
We are going to have to pay more than $5 a gallon for it, just like the rest of the world.
It would be better to hope that Bush as just a personal screw up, and that neither he nor Obama were puppets.
Then we would not control Iraqi oil, but would have normal world competition equal access, which is much better than cheating.
That is the only scenario were we as individuals have any hope.
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The way that it works is that in the future, today's debt is paid off with highly inflated dollars. There is no way that today's debt even comes close to being repaid with dollars that have even a semblance of the purchasing power of today's dollars.
Trust me, if you actually live in the Pacific NW, you should be
very happy that we control Iraqi oil, and not Russia or China. You can't fight wars without oil. Its price in paper dollars (that we print at will) is inconsequential. If we were on an even footing with the rest of the world, you would be living in a hut with a dirt floor. Cheating is better.