Politicians sure do make a mess of things, don't they?
The mighty U.S. dollar’s fall from economic grace didn’t happen overnight. It’s been a long and painful process driven by bad judgment, irresponsible fiscal policies, and arrogance.
Like many fiat currencies (money not backed by a physical commodity-- 1975 saw the U.S. dollar freely float on currency markets) before it, the greenback’s paper and the ink printed on it is only worth what individuals are willing to assign to it. Otherwise it becomes as worthless as green wallpaper with numbers on it, just as happened in Rome.
Read more at Money & Markets.
The reason why we are printing so much money
Click on photo.
Click on photo.
Graph sent by Suzanne Squires
4 comments:
Is that supposed to look like Herman Robinson? Surely he doesn't have one of those in his house??? He hasn't shared any with me if he does!
LOL--It sort of looks more like Jerry Jennings but the beard is too long.
Why was there no big production when Regan or Bush increased the debt ceiling? No one even heard anything about these increases. I wish people would realize this has to be done to pay for the debt we all ready have not to spend more money. Lynn I have been paying into social security for 56 years and am still paying into it. With the utilities the way they are I am still working just to pay the bills.Yes I am in my 70's.
There was a problem with it then too but today it is much more serious as it keeps climbing and 43 cents out of a dollar goes to pay off the interest or soemthing like that. Allen West agrees to raise the debt ceiling but cap spending. Boehner's suggestion is a compromise that makes sense to me. People shouldn't have to work into their 70's unless they just want to. We need to save Social Security and changes must be made for the new generation. I never got a pension from any job so I understand you.
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