Phatscotty wrote:Yeah, so what should we do about my country getting it's credit rating downgraded for the 3rd time in the last year?
Accept reality and declare bankruptcy.
Twenty years ago there might have been a chance for radical fiscal conservatism to save the U.S. treasury. Maybe. Today, it's not a possibility any more. Regardless of who gets elected, regardless of what their policies are, the wall of debt is too high to ever be surmounted. There is absolutely zero chance that you will ever pay the principle on your national debt, and if interest rates go up even a few points, you won't even be able to pay the interest.
The wealth of the world is being poured into the Ponzi scheme of U.S. Treasury bills, and like any Ponzi scheme, it will one day fail. I'm not marking a date, because so far the bankers have proved amazingly creative at whipping up new twists to keep the great fraud going, but astonishing as their creativity is the end will one day come. And as with any Ponzi scheme, the total pain people must endure will be less if it comes sooner than later, but nobody wants to hear that. Everybody hopes that the game will somehow go on as long as they live.
The only difference between the U.S. and Greece at this point is that the U.S. had enough prestige to continue to sell its worthless bonds for a little longer.
At this point you're bankrupt, and you may as well elect Democrats who will give you lots of handouts in the Final Days. The one thing you should not do is elect a multimillionaire Republican who will save the best goodies for his bum-buddies. The road to ruin will be every bit as certain, but there will be fewer refreshments along the way. The time when there was hope that a radical fiscal conservative could turn things around passed long ago.