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Board Beginners & Help
Re: Is American Debt default really possible??
by
mikethebodacious
on 27/09/2011, 07:44:50 UTC
Just imagine that 700 billion dollars we bailout... well around that time of year our trade deficit with china was 700 billion. So akin to Monopoly where we all agree to give everybody 700 billion monopoly money to walk across boardwalk this year. As for the banks and cars industry we basically admit we are just doing each other's laundry. In 1980s it was the S&L scandal, increase that money today and it's 700 Billion. So basically every 22 years we agree to give ourselves a BAILOUT! That's capitalism for ya!

Socialize losses and privatize profits, gotta love "capitalism" Wink