View Poll Results: Should the USA File Bankruptcy?

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  • Yes

    5 18.52%
  • No

    17 62.96%
  • Not sure

    5 18.52%
  • Don't care

    0 0%
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Thread: Ron Paul: We Should File Bankruptcy

  1. #31
    Professor

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    Re: Ron Paul: We Should File Bankruptcy

    Bankruptcy: So how is one handled? 1st lawyers are involved. Oh boy the conservatives should like this part. 2nd everyone loses control of their assets to the lawyers. Chinese lawyers will have the most fun. 3rd since our assets are worth more than our debt everyone else (esp. the lawyers) but us are going to come out ahead. 4th the US dollar becomes a currency based on a bankrupt state, i.e. worth what the lawyers decide it is. 5th it gonna take at least 3 years to settle things.

  2. #32
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    jamesrage's Avatar
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    Re: Ron Paul: We Should File Bankruptcy

    Quote Originally Posted by BmanMcfly View Post
    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.
    One of the reasons the US is in the hole it is in now is because of frivolous spending. This frivolous spending will never stop if we just file bankruptcy. We need to make serious cuts and make due with less. That means no NASA, no military installations all over the world, that means no grants for useless studies, no foreign aid, no overlapping agencies, no culture preservation in other countries. The US wastes a lot of money on **** it has no business spending money on. From what I understand this would not be the 1st,2nd or even 3rd time we defaulted and eventually countries are not going to be dumb enough to lend us money. Being in others debt makes you at their mercy, this is a threat to our sovereignty and security.

    Ron Paul may have some good ideas but filing bankruptcy is not a good idea.
    Last edited by jamesrage; 07-03-11 at 01:46 PM.
    "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

  3. #33
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    Re: Ron Paul: We Should File Bankruptcy

    Quote Originally Posted by BDBoop View Post
    Naw, there's no need to declare bankruptcy
    You know the time is right to take control, we gotta take offense against the status quo

    Quote Originally Posted by A. de Tocqueville
    "I should have loved freedom, I believe, at all times, but in the time in which we live I am ready to worship it."

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