EU & US debt crisis-News Analysis-07-14-2011

[OmicronLeonis]

The real cause of this crisis is that banks can create out of thin air as much money as we can borrow and that banks can loan money that they don't actually have.

In other words, if there is only 1 (not even 4 !!!) tire in a bank's vault , then ,at the same time, that bank can lend someone a car !!!!

I really wonder who was the ''genius'' that invented this system ...

[slfanta]

just carry on projecting more troops then the crisis will be solved

[301083247]

I dont understand why the Republicans not allow wealthy americans pay more tax rather than cutting Social security checks.

[womo1975]

@301083247 Because big business will move their shop and money out of town and find cheaper pastures.

[arelort]

The solution will be provided by the same people who created the problem. Why? because their unstoppable greediness will make thinks so bad that everything will go to hell, in other words : they are going to kill the hen of the golden eggs.

[scientific1982]

Spain and Italy now very likely to need bailouts. When either of them go it wont just be the so called PIIGS in trouble. It'll take the French and Germans with them. Couldnt be happier

[zsezse215]

It's da fault of da debt. Not congress. philipnute com

[AmerikanPatriot]

Don't give this spendthrift a dime. He'll just blow it on healthcare.

[PacificCircle1]

Could? People are already moving away from dollars to other currencies.

As of 7/29, the GOP has refused to negociate, so no movement.

BLAME THE SIDE THAT REFUSE A WORK ON A SOLUTION.

[neobadandy]

America

1776-2011

R.I.P.

[chadberry75]

1776-2011--america...r.i.p.

[DJLegacyRH11]

here comes the cashless society ! choose a spot for your barcode now..or choose life.

[AbdallahElMalak]

This is what happens to fools who keeps on voting for parties that cares less about their people but the outside agenda, military power & Zionist caring regime, only way to banish those fools is to show them who is the boss of this country by building up a huge resistance against AIPAC and the rest of the parties that supports the Zionist regime, only then they will recover their freedom as well as working on their debt by pulling all the military back to the US(1), avoiding outside agenda(2).

[Vetwolf13]

Since the last election the GOP has done just one thing-EXTEND THE BUSH TAX CUTS FOR THE RICH! No jobs program-no health care solution-NOTHING FOR THE WORKING MAN! So all you inbred right wingers about to lose your jobs and homes-keep voting for these assholes-I DARE YA! SUCKERS!

[sunearthmoonjupiter]

Jews and Zionists ruined United States... I get tears in my eyes when I see the greatest nation on the planet is demolished like that and have become a banana republic...

[LiberaLib]

06:48 "America is about to become a banana republic, except banana republics do have bananas."

Ok i have to admit i laughed out loud.

[madtomahawk]

I hope people finally open their eyes. Stop watching american idol and E!. It is sad that always the middle class is the one that suffers the most. Damn politicians. End the FED!!! Viva la REPUBLIC. :)

[underself]

I can't to understand this and I'm sure you've heard this before but isn't whole god damned mess entirely relative and imaginary? Isn't greed the only thing from preventing a solution? The will have nothing left themselves!! No world in which to spend and enjoy their riches. They'll be the death of us all and themselves.

[AbdallahElMalak]

@underself

Not really, the world is going to have a tough time, i assure you, but they will recover slowly by making deals on creating a new system economically, which the US can do nothing about it atm, because of their gigantic debt, the only way to create such as system is to leave the rotting countries to rot, start over your economy, and provide fair deals to other countries which won't be that easy but still achievable, not to mention, keep out those rotting pigs (Zionists) out of this..

[RedPillRedList]

And so obvious,big corporations don't want to pay more tax,republicans blocking taxing the rich,but happy to take from the poor,raise debt ceiling print more money and go bust,financial armageddon.I have a family and am going to start making provisions now,scary times.

[foucault1020]

@RedPillRedList Been making preps for a while too. Like a tsunami- it's there even if you don't see it or feel it for a while. First class has left USA on the deck & taken all lifeboats & life jackets. Banks & big business need a hand up, not a hand out. The money they print is worth less than wallpaper. USA is over. Last one out turn off the lights.

[RedPillRedList]

Don't quite work like that,America go's down,everyone go's with it,this is what they want anyway,martial law coming soon, to a city near you!

[damoz89]

I am sick of hearing that if America goes down, everyone goes down. That's just total BS. if all America is doing right now is debting it up, and leeching off everyone else, other nations would actually be better off if they were left to go down.

[mohalishaf]

O God.. the 650billions military budget and the health care system is UNTOUCHABLE for the rest of the American Pariahs.. its INVISIBLE if you keep borrowing and printing money out of thin air.. God Help America!!

[Margaret4612]

Moodys has gotten everything wrong, or they deliberately covered up these crimes. Why should anyone listen to them or act on anything they say now? The threat to refuse to send Social Security checks is financial terrorism against the people, since all workers are continuing to pay into that program like it or not. I wish this debate would cost Ob's job and a whole lot of others, and a massive investigation. Heads need to roll over this catastrophe.

[The1RealAmerican]

Obama's plan is to bankrupt America, causing a world wide economic disaster. He was put in office by the Bilderberg Group for that very purpose. That way the Global Elite can take everything and everyone over living in the free world. China doesn't care because they will step in and claim assets in the US and EU, and have control. This has been discussed and decided at recent Bilderberg meetings. Few documents about it are around but there if you look hard enough.

[301083247]

@The1RealAmerican Yea, my pastor says Obama's is antichrist....

[KillerWhaleSFl]

I am happy to be alive to see the fall off the monetary market system. Its about time humans stop fucking around, trying to make a "profit". Money has only the intrinsic value we give it IT REALLY MEANS NOTHING!!

[seanlaca]

@KillerWhaleSFl You won't be very happy to see the repercussions of that, when the US civil unrest begins. You're gonna see human beings resorting to animalistic tendencies like you've never seen before.

[KillerWhaleSFl]

@seanlaca 95% of all crime is money related. you take away the incentive, and the aberrant behavior will cease. Also, we wont be able to conduct murder on a massive scale in the name of a war on "terror".

Human beings are bio-psycho-social organisms. We are HEAVILY influenced by our environment. If we take away the dog eat dog, everyman for himself mentality of the current social system(which is based on MONEY), I think you would be surprised at how well we can work together.

[jemmre]

Great coverage! Its like watching the Titanic sink frame by frame, unfortunately the love affair is over and the relationship between the American people and Capitalism is coming to a tragic end! Its a pity the poor people in America and around the world will pay the ultimate price for what is essentially irresponsible and reckless behavior by the super rich. But ultimately we have to blame the masses for believing in politician's false promises and their lies which led people into debt and war