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Wall Street not good for main street, credit-based companies, United States world’s largest debtor, Federal Reserve reports United States technically bankrupt
we have a fiat economy and this is why savers are penalized in fiat credit based economies:
Savings, measured in terms of constantly declining dollars, are worth less over time. In the 95 years since the creation of credit based money by the Federal Reserve, the US dollar has lost 95 % of its purchasing power.
In fiat credit-based economies, savers are penalized and speculators are rewarded. And while this is welcomed by Wall Street, it is a death warrant for Main Street. In the US over the past twenty years, while Wall Street has expanded, Main Street has contracted.
Now, the United States, once the world’s only creditor is by far its largest debtor. A report from the Federal Reserve in 2006 stated the US is technically bankrupt with $65.9 trillion in irreconcilable obligations. (which of course have skyrocketed since then). currently, the US can only pay its debts by issuing new debt and default comes next.
That is so true. Individuals, businesses and governments must have some real money to invest. They cannot become wealthy, or even remain solvent, on debt alone. The lenders, speculators and manipulators can become wealthy on their fraudulent schemes but, eventually, even they will lose it all. Welcome to the real world ruled by the iron gods of the counting house.
PS – Wall Street was never concerned with Main Street except to provide an unlimited number of victims to mine for money.
If you instead wanted to talk about Fiats (the cute little Italian designed /Polish cars) you could get a Fiat Nuova 500 for about 10,000 Euros, and it would attract a lot of attention on Mainstreet AND Wall Street, becuase they don't import them to the US. Fiat Nuova 500 - Wikipedia, the free encyclopedia -- you could about 19x the usefulness from one Fiat vs an Apollo...
Now a small single seat Lotus7 clone with a 6 cylinder turbo engine might be both fun and economical. Think 1930’s Indy car with fat tires. Most mechanically inclined individuals could put together a kit of parts and assemble the car in their own garage. That would save money on labor and, if they paid cash for the kit, would avoid finance charges.
What a radical idea – PAY CASH UP FRONT – Radical!
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