In this edition of News Analysis the topic is the depth of the US debt crisis. The guests are the binary economics professor, Rodney Shakespeare, editor of Culture Wars magazine, Eugene Michael Jones and managing director of ArcXeon International, Roger Von Hanwehr.
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 ...
OmicronLeonis 1 month ago
just carry on projecting more troops then the crisis will be solved
slfanta 3 months ago
@The1RealAmerican Yea, my pastor says Obama's is antichrist....
301083247 6 months ago
@301083247 Because big business will move their shop and money out of town and find cheaper pastures.
womo1975 6 months ago
I dont understand why the Republicans not allow wealthy americans pay more tax rather than cutting Social security checks.
301083247 6 months ago
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.
arelort 6 months ago
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
scientific1982 7 months ago
It's da fault of da debt. Not congress. philipnute com
zsezse215 7 months ago
Don't give this spendthrift a dime. He'll just blow it on healthcare.
AmerikanPatriot 7 months ago
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.
PacificCircle1 7 months ago