Quote:
Originally Posted by Blubayou
I am a half full kind of person living with a half empty guy. He has been saying this since the market collapse last year. I do not want to go through anything this bad, but it may bring about a turn back to God- If it does it will be worth it.
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Blue, I don’t know how we avoid it.
The entire world is demanding via Global Warming treaty that we (the USA) pay huge reparations. That is money we don’t have.
We are currently spending (non-military) in excess of 25% of GDP
within 5 years something like 60% of all tax receipts will go to pay the interest on the debt we owe to places like China.
We are printing money that is not reflected in the actual economy to shore up banks that would have long failed without it. This is fake money that doesn’t represent anything but an over supply of dollar bills. That means the value of the dollar HAS to go down.
We are looking at 3 to 4 trillion dollar deficits over the next couple of years according to the President.
We are trying to pass a healthcare bill that will add 200 BILLION more in spending per year at the least.
We are looking at a cap and trade bill that will add something on the order of 1500 to 3000 dollars in new taxes to every single American's annual bill.
We are facing 50 TRILLION in unfunded mandates for Medicare and Social Security all with a shrinking work force and an economy that many are saying will likely see 10% unemployment for the next decade...AT BEST.
Some experts are saying that next year the housing area is likely to take a hit as large as or larger than the one last year.
China is the emerging economy and will be number one before too long. They also believe that their ascendancy requires our fall. They are teaming with Russia who is bitter about the loss of the cold war to end American dominance as the worlds Carry Currency.
We have already crossed the line that China can crush us simply by calling our debt. Period. The jig is up on that.
YET we continue to spend like drunken sailors and we are spending money we don’t have….
You have to understand also that a Fiat economy bases its value on the economy as a whole. Right now the American economy is less and less valuable every day. Yet at the same time we are printing more and more money.
Inflation has to spiral out of control. There really is no choice.