Currency Reset

[Gumby]

If the population of a country collectively consumes more than it produces, the nation will have a net debt. Whether that is directly owed by each person individually or mediated through the government is almost irrelevant. Our main problem is still that we collectively consume more than we produce and you would be hard pressed to find people willing to contract their lifestyle to change that (and the really poor simply can't).

 

[Jerry1]

I don’t see any way that it can be argued that our debt isn’t a big deal. It has exceeded our GDP at about 124% of gdp. Worse is that a lot of that debt and our continued budget deficits go to spending that is basically operating expenses. If we were building infrastructure that had future value that would be different. Instead, we’re financing operations with debt and most concerning is that a balanced budget is no where in sight. I don’t see how or when this ends, but I don’t see anyway it ends well.

 

[Mr_Pink]

interesting discussion. Possibly related to this thread is the story I saw on Fareed Zakariah's CNN show on Sunday about how Spain is embracing immigration unlike its Euro neighbors, etc. Then I looked at EWP.