View Poll Results: Should the USA File Bankruptcy?

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  • Yes

    5 18.52%
  • No

    17 62.96%
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    5 18.52%
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Thread: Ron Paul: We Should File Bankruptcy

  1. #21
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    Re: Ron Paul: We Should File Bankruptcy

    Quote Originally Posted by RStringfield View Post
    The courts force us to give up some of our assets and in return our creditors promise not to shoot us. No such framework exists for nations. If the US declares bankruptcy, we are bascially telling our creditors to go to hell. They can try to get it back and the likely reaction would be to send them some of the missiles we bought with their money.
    Somebody still wondering how the WW3 will come to being?

    You cannot screw people and expect something different in return.

  2. #22
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    My first post and I am about to earn alot of hate haha.
    Here goes: Ron Paul is my presidential candidate of choice.
    ...there I said it.
    As far as the bankruptcy goes, can anyone honestly see this heading anywhere else? This country has defaulted 3 times in history:
    -the civil war
    -the 1930's
    -1972 (I think it was 2...maybe 3, I'd have to look it up.)
    We are in over our heads and if we don't do something we will be up a creek. Stopping spending on crap will help, yes, but i can't see it solving the problem entirely.

  3. #23
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    Re: Ron Paul: We Should File Bankruptcy

    And welcome to the board.

  4. #24
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    Re: Ron Paul: We Should File Bankruptcy

    Dear America; *Land That I LOVE!!!*

    Please don't:

    1) File Bankruptcy

    2) Look at Me

    3) Or Our Creditors

    You guys can do this! (once the poor and downtrodden follow natural selection and die, of course)

    Peace out;

    The Rich

  5. #25
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    Re: Ron Paul: We Should File Bankruptcy

    In which court would we declare bankruptcy?


    Quote Originally Posted by Jetboogieman View Post
    This issue has been plowed more times than Paris Hilton.
    Quote Originally Posted by Oborosen View Post
    Too bad we have to observe human rights.

  6. #26
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    Re: Ron Paul: We Should File Bankruptcy

    Quote Originally Posted by rocket88 View Post
    In which court would we declare bankruptcy?
    It was in one of the articles I read. I'll need coffee before I can dig it up.

  7. #27
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    Re: Ron Paul: We Should File Bankruptcy

    Quote Originally Posted by Baralis View Post
    It has been some time since I read it but I read a comprehensive article about the benefits of the US filing bankruptcy. While it has it negative the article made it not sound as crazy as it may seem.

    In short,
    if we filed we could eliminate all debt ( or simply refuse to make payment ). This is debt that we will never pay off anyway so its not like they are losing as much as we owe due to the bankruptcy, there never gonna get it all not matter what. In turn we go back to a gold backed standard and reissue new currency. This would help ensure the value of our dollar in potential future trade agreements.

    We would also lose much of our imports do to the bankruptcy. This while bad short term could actually have a very positive outcome. We would once again manufacture most of our goods and not be losing hundreds of billions a year in trade deficits.

    It would also help to insure that countries would be hesitant to loan us money. This would help keep the government spending in check. No more blank check for government spending.

    While Im sure it would be bad short term I could see it having the potential to benefit us in the long run. We have been living beyond our means for decades. Its about time we correct this.
    In a perfect world, what you outlined would be achievable, on a political and economic scale. But in the reality we inhabit, if we defaulted, every market in the world crashes, most economies will collapse, as will the dollar for sure, and the world will descend into what will make the Great Depression look like a Golden Age. Politicians aren't going to do what you said, because thats a long-term policy, they have to think in the short term so they get re-elected. Of course, if you want to start the world over, I guess, defaulting is a good idea. After that, government wouldn't mean ****, and we'd probably wait a few years until corporations officially took their place.
    Veni. Vidi. Vici.
    -Gaius Julius Caesar
    The Only Thing to Fear is Fear Itself.
    -Franklin Delano Roosevelt

  8. #28
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    Re: Ron Paul: We Should File Bankruptcy

    Quote Originally Posted by DoccRobb View Post
    My first post and I am about to earn alot of hate haha.
    Here goes: Ron Paul is my presidential candidate of choice.
    ...there I said it.
    As far as the bankruptcy goes, can anyone honestly see this heading anywhere else? This country has defaulted 3 times in history:
    -the civil war
    -the 1930's
    -1972 (I think it was 2...maybe 3, I'd have to look it up.)
    We are in over our heads and if we don't do something we will be up a creek. Stopping spending on crap will help, yes, but i can't see it solving the problem entirely.
    SO in other words that is three times we have not learned our lesson and the government still continues to spend outside its means. Why would defaulting a fourth time be a good idea. This is why the government spends money like a spoiled rich child or some inbred Eurotrash Royal familiy wasting other people's money.
    "A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murder is less to fear"

    Cicero Marcus Tullius

  9. #29
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    Re: Ron Paul: We Should File Bankruptcy

    Quote Originally Posted by BDBoop View Post
    Ron Paul is crazy. The reverberations from such a declaration would rock the globe like an economic tsunami

  10. #30
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    Quote Originally Posted by jamesrage View Post
    NO. Because we will be right back where we started, plus in the future there might be some emergency and we will need to borrow money. We need to make some serious cuts to our spending and pay our debts. If you lost your job you would not continue to have Cable or Satalite TV with two or three hundred channels, you do not continue to buy name brand products, you do not continue to eat out in fancy restaurants, you would not continue to buy expensive coffee at Starbucks or Java Daves when you can buy a can of Foldgers and make it at home much cheaper, and you would do anything else to cut spending or reduce costs. Yet somehow the government thinks it is acceptable to do this.
    I disagree with you here... Now what you are sayin WOULD be true IF the problem was simply one of the debts being somewhat out of control... Like someone falling behind on their credit cards.

    Instead, we're at the point where even the interest on debts is getting beyond the productive capacity to pay off... Which is more like someone who has taken on so much debt that even paying only the interest would still run out of money before paying off interest.

    At this point it's not much longer before the creditors will figure out that you are juggling debts between so many cards that the interest exceeds your income.

    Bankruptcy, even with the negatives is really the only sane option.

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