America’s Economic Woes–Some Deep Schumer in the Near Future?
The U.S. housing bubble but has not yet popped, but it is starting to make funny noises. (See: http://biz.yahoo.com/ap/060306/housing_slowdown.html?.v=2) You have probably read that the Federal debt ceiling has been raised to nine trillion dollars. (See: http://www.foxnews.com/story/0,2933,138881,00.html) What is the point of calling it a “ceiling” if Congress keeps raising it every year? The U.S. Treasury is now technically bankrupt, but from a practical standpoint, how can you call the man with the printing press bankrupt? He just prints more, as needed. There are just more and more “fun tickets” in circulation, and their value gradually melts away. Ask anyone …