St. Patty’s Video: drunk with debt
What do St. Patrick’s Day and government spending have in common? Well, until we had anything to say about it, not much.
As our friend Seamus eagerly displays, years of overspending have left us drunk with debt. The US gross debt has reached $14 trillion — the size of the US economy. This has only happened once before in American history: World War II.
But cheer up and don’t let the sobering facts get you down on St. Patrick’s Day! Watch and share our latest video.
I am so sick and tired of this bunch of Psychos destroying our Country!!. WE MUST DO SOMETHING AS CITIZENS OF OUR GREAT COUNTRY!!.
I am so sick and tired of this bunch of Psychos destroying our Country!!. WE MUST DO SOMETHING AS CITIZENS OF OUR GREAT COUNTRY!!.
Government needs to spend money like it is in Social Security. Stop destroying our Country!!
Government needs to spend money like it is in Social Security. Stop destroying our Country!!
The late Larry Burkett, author of the book THE COMING ECONOMIC EARTHQUAKE, c. 1991 Moody Press, used to have a radio progam. I believe he is the one who had said, that, if a man were going to give a personal loan to a friend, the man should lend only as much as he could afford to lose, and think of it as a gift (because he might not get it back).
Banks, Savings and Loans, and other entities which lend to people and companies, have loaned out more than they had to lend. Not just a little more — Many, many times more.
We know that responsible people have to live with the consequences of their actions. We get loans or credit, and we understand we will be paying it back. But during the past 30 or 40 or 50 years (or longer) the lenders have been fishing for suckers. The idea was that if they could get people to borrow more than the financial entity could lend, then it would make money on it in the long run.
Americans have gotten used to the idea. “Oh, it’s okay if I buy this car, this boat, this house, this tv, which I cannot afford, if I use my credit.” And, over time, Americans have found themselves unable to pay their debts. “It’s okay,” we thought, “we can file for Bankruptcy. The bank is big and it can afford the loss.”
I don’t have to be a genius to see the coming consequences of this plan. Financial entities can make the people return the stuff they bought with those loans. They can put the people out of house and home and car. But after some of this happend, the house and car became almost worthless because other people haven’t the means to buy them — because they are already in — too much debt.
We are used to hearing about a bank failing once in a while. But now, the entire banking system failed! And the banks went bankrupt. And then, to try to keep a disaster at bay, the “government” rescued the banks! So, now. Who is going to rescue the government?
Now what? You say that you think OBAMA is causing the problem? Really??
I mean, if any person has to be blamed in this, it’s the first man who decided it would “”be okay to lend more than he could afford to lose.
Give me a break! OBAMA HAS NOTHING TO DO WITH ANY OF THIS! It’s not his fault. Stop blaming him!
The late Larry Burkett, author of the book THE COMING ECONOMIC EARTHQUAKE, c. 1991 Moody Press, used to have a radio progam. I believe he is the one who had said, that, if a man were going to give a personal loan to a friend, the man should lend only as much as he could afford to lose, and think of it as a gift (because he might not get it back).
Banks, Savings and Loans, and other entities which lend to people and companies, have loaned out more than they had to lend. Not just a little more — Many, many times more.
We know that responsible people have to live with the consequences of their actions. We get loans or credit, and we understand we will be paying it back. But during the past 30 or 40 or 50 years (or longer) the lenders have been fishing for suckers. The idea was that if they could get people to borrow more than the financial entity could lend, then it would make money on it in the long run.
Americans have gotten used to the idea. “Oh, it’s okay if I buy this car, this boat, this house, this tv, which I cannot afford, if I use my credit.” And, over time, Americans have found themselves unable to pay their debts. “It’s okay,” we thought, “we can file for Bankruptcy. The bank is big and it can afford the loss.”
I don’t have to be a genius to see the coming consequences of this plan. Financial entities can make the people return the stuff they bought with those loans. They can put the people out of house and home and car. But after some of this happend, the house and car became almost worthless because other people haven’t the means to buy them — because they are already in — too much debt.
We are used to hearing about a bank failing once in a while. But now, the entire banking system failed! And the banks went bankrupt. And then, to try to keep a disaster at bay, the “government” rescued the banks! So, now. Who is going to rescue the government?
Now what? You say that you think OBAMA is causing the problem? Really??
I mean, if any person has to be blamed in this, it’s the first man who decided it would “”be okay to lend more than he could afford to lose.
Give me a break! OBAMA HAS NOTHING TO DO WITH ANY OF THIS! It’s not his fault. Stop blaming him!
Seriously, do you post only opinions that agree with yours?
Where’s the elegant defense of common sense I wrote earlier today?
You have decided I cannot speak my mind? You don’t believe in
free speech? Are you joining the hypocrites’ movements?
Seriously, do you post only opinions that agree with yours?
Where’s the elegant defense of common sense I wrote earlier today?
You have decided I cannot speak my mind? You don’t believe in
free speech? Are you joining the hypocrites’ movements?
You belly ackers had your chance. You voted for change. You voted for any body that came along with a nice song. And you know what? You will do it again. You will elect someone from either the Republican party or the Democratic party. Well guess what, their all bought and paid for by the same SOB’s. Yeah, and the really bad part is that they are all there to bankrupt the country and form a world bank and a world Govt. If not for the Federal Reserve who has been robbing you blind for the last 100 years, each and every one of you belly ackers would have had your own private plane or boat, a nice home,car, yeah America was blown away by the Federal Reserve and its practices and you let it happen year after year. So go on and complain here and there. You only hear from me once. What you do is critical!
You belly ackers had your chance. You voted for change. You voted for any body that came along with a nice song. And you know what? You will do it again. You will elect someone from either the Republican party or the Democratic party. Well guess what, their all bought and paid for by the same SOB’s. Yeah, and the really bad part is that they are all there to bankrupt the country and form a world bank and a world Govt. If not for the Federal Reserve who has been robbing you blind for the last 100 years, each and every one of you belly ackers would have had your own private plane or boat, a nice home,car, yeah America was blown away by the Federal Reserve and its practices and you let it happen year after year. So go on and complain here and there. You only hear from me once. What you do is critical!