Free OBama Money for All!

I think it was George Santayana who once wrote, ‘Those who cannot remember the past are condemned to repeat it.” I wonder if anyone can remember way back in 1979 when Jimmy Carter (who also was awarded the Noble Peace Prize) was President during a time somewhat similar today. Back then our country was going through a recession and inflation that made it hard for many to get by. Our Treasury Department was also printing money like mad which lead to interest rates going through the roof a couple of years later. I think interest rates hit something like 18% (1982) making it very difficult for the private sector to get loans for autos or homes. Yeah, times were tough for quite a while. But, you know being a few trillion in debt and having interest rates in the double digits, as bad as that was, is nothing compared to what is going on today in this country. The chart shows a national debt of something like 10 trillion, but in reality it’s more like eleven and showing no signs of leveling off anytime soon. Back in 1980, the Fed was forced to raise interest rates in an attempt to buy back some of the debt which it never really got around to doing. My question is what will it now take, to buy back; ten, eleven or even fifteen trillion dollars? Can anyone imagine how high interest rates would have to go to get it done? Can anyone imagine the American dollar surviving for too very much longer? I can’t. You see, I remember the past quite clearly.