The US is bankrupt.

posted by The Vidiot @ 7:46 AM Permalink

What's really happening here?

Excerpt: President Bush wants to sell more public land across the West to raise money for schools, conservation and deficit reduction.

I'll tell you what's happening. That line should read like this:
President Bush wants to sell more public land across the West to [obstensibly] raise money for schools, conservation and deficit reduction.
See, that land was originally set aside as collateral for our debt.

Excerpt; This is not about conservation, it is about collateral. YOUR land is being stolen by the government and used to secure loans the government really had no business taking out in the first place. Given that the government cannot get out of debt, and is collateralizing more and more land to avoid foreclosure, the day is not long off when the people of the United States will one day wake up and discover they are no longer citizens, but tenants.

My best guess? Well, if it's collateral, someone has to be cashing in. China's recent pull-back from our bond market

Excerpt: China has resolved to shift some of its foreign exchange reserves -- now in excess of $800 billion -- away from the U.S. dollar and into other world currencies in a move likely to push down the value of the greenback...

must be causing some debt to come due. Rather than come out and say anything directly, (or drastically raise the interest rates to attract even more foreign investment to compensate for what we're not getting from the Chinese) they're just saying they're using the money for 'this and that'.

Hey, wouldn't be the first time our government lied to us.