George wrote in :

On 7/20/2011 6:50 AM, bob haller wrote:
On Jul 20, 3:45 am, wrote:
Now both of our economies are going to hell on a handcart is now the
time to buy gold or is it too late?
If you have any, do you sell? If you do, what do you do with the
readies? ($).

Buy houses?

all bubbles burst.

as to gold if the world economy continues its downward implosion, with
congress helping here the bottom may drop out of everything.

people will still need to eat

its sad watching our congress play games while they can crash the
worlds economy.


Why would that be? Aside from the drama everything I read says the
government can spend what it could before it just can't spend more.

Simple analogy. You and your family decide to have a budget and you
agree to never borrow more than say $20,000/year (the "debt ceiling").
So now this year one of your family members wants to go on an
extravagant vacation which would require that you borrow an additional
$5,000. If you adhere to your originally agreed borrowing limit you can
still feed and clothe yourselves and go on as usual only no extravagant
vacation.

And if you were sensible and you really wanted to go on the extravagant
vacation you might decide for example that you really don't need that
new car


every congressman should turn in their resignation for playing these
games

Why? Some of us explicitly fired out old Congressmen because we were
tired of out of control spending.

Things are starting to cost more and more. It's called inflation, and
you will be experiencing more, soon.

As far as out of control spending, every congresscritter will want to
bring home more funds for his/her constituents. As long as there is no
limit on that, why should Medicaid (example) recipients suffer? Let the
congresscritters first spend less on themselves and their staffs.

--
Best regards
Han
email address is invalid