On Bob Brinker today

[GFB]

In his opening monologue, Bob spoke about the upcoming vote to determine if Scotland "secedes" from the U.K. (that is the word he used)

Bob thinks it would be a huge mistake, and spoke of how Scotland has not even addressed the issue of Central Banking.

The Scots believe they can go on using the Pound Sterling..England says.."sorry, but no."

And Bob says if they leave the U.K., they will need to borrow a lot of money quickly, and how this is a problem as well, since they have no track record for borrowing and paying back debts.

[planosteve]

Hopefully, the Scots will avoid central banking like the plague and tell England to take their phony Pound "sterling" and shove it.

[Kiamichi]

From what I understand they are planning to retain not only the pound but also the monarchy, and their share of the national debt will amount to nearly 100% of GDP, meaning immediate tax hikes and cuts in services. In addition, their admission to the EU will be vetoed by Spain and other member states in order not to encourage separatist movements in their own territories, and they will have to set up a defense establishment and treaty arrangements from scratch. England also will not be obligated to admit Scotland's best and brightest into its job market, which is where they have always gone.

All in all, it is understandable that polls show that the referendum would pass handily if the rest of the U. K. were allowed to vote but since they can't it will fail.

[GFB]

Hopefully, the Scots will avoid central banking like the plague and tell England to take their phony Pound "sterling" and shove it.

The result of that would be a quick lesson for you and David Stockman.

[planosteve]

Hopefully, the Scots will avoid central banking like the plague and tell England to take their phony Pound "sterling" and shove it.

The result of that would be a quick lesson for you and David Stockman.

The problem with listening to Brinker is he give the impression we are living in normal times and that our basic institutions are sound. Nothing could be further from the truth. We live in a country that is going through the throes of instability that are typical of an empire as it goes down the tubes and tries to print it's way out. There is no economic theory ever invented that indicates that will work or example in history when it ever has.

[GFB]

Hopefully, the Scots will avoid central banking like the plague and tell England to take their phony Pound "sterling" and shove it.

The result of that would be a quick lesson for you and David Stockman.

The problem with listening to Brinker is he give the impression we are living in normal times and that our basic institutions are sound. Nothing could be further from the truth. We live in a country that is going through the throes of instability that are typical of an empire as it goes down the tubes and tries to print it's way out. There is no economic theory ever invented that indicates that will work or example in history when it ever has.

There has never been anywhere like the U.S.

What were the "normal times" in our history?

[planosteve]

There has never been anywhere like the U.S.

What were the "normal times" in our history?

Canada's close. Australia's good. Neither one is anywhere near as far in debt as we are. But, I'd say the 50's were pretty normal, right between the Korean and the VIet Nam wars.