The answer? Due to a legal loophole, a 1 Trillion dollar platinum coin can be made and deposited to cover the National debt. Well, in that case, mint 100 of them, deposit them into the Federal Reserve and we will all be fine AND be able to throw a party like P Diddy or Jay Z.
How would minting a coin be any different than printing more money? Legal loophole or not, you are devaluing the US. Worse if you think you can just make a coin that is worth a lot more.
Hell, why don’t we all just make some coins in our basement or garage and take it to the bank for deposit. All our issues will just go away.
I actually read that some experts think that the US should just default on its debt. So we don’t end up being indentured servants to the Chinese. Kind of extreme but I do understand that opinion. It makes me feel a bit better about the problems I have with my debt.
What bugs me the most is as paychecks dwindle to a lower low and we still have unemployed, bills are still going up. Food prices are going up, gas prices are going up, etc. Hell, I went to pick up my suits I need for work from the dry cleaner yesterday and that bill went up over a dollar. Where does it end? It needs to end.
So what do you do? You try to keep your head up and be resilient and be a good law abiding American citizen and be lucky that you do have a house to live in(i.e not a Superstorm sandy victim if you are indeed not one) and you are not down in Haiti still reeling from the earthquake that hit there 3 years ago, and so on and so forth while continuing to watch the news about what your elected official is NOT doing for you…sigh.
You can try to get involved and informed about what is going on so you can possibly have some input in the matter. But that just pisses you off. Or depresses you. Or both.
So you just shut out the news and just live your life with a come-what-may attitude and bend over when appropriate. But at least you are happy.
It’s your choice. I haven’t decided yet. I guess I am looking for possible third option. Like just living on a deserted island or planet.