If you are in the market for a new home, 2011 would be a good year to buy
in a different country.
Im not the sort of person that stores a years supply food/water. I dont have a safe-room. I dont even own a gun. I've never bought into conspiracy theories. I dont hoard gold. I dont believe that Democrats or Republicans are the devil (the combination of the two parties is Satan-like). I dont believe that that dollar will debase. I dont believe (as Ted Turner does) the people will be eating people. However, this is what I do truly believe:
1. The government is NOT doing the taxpayer any favors at all! It is very, very evident what needs to be done to get the US back on track. The government is going in the opposite direction. In order to get the jobs that all economists, politicians and populous are continually calling for, the government MUST INVEST IN HUMAN CAPITAL! All talk, by congress, accentuates exactly the opposite. Proposed budget cuts, entail ABSOLUTELY NO cuts to MILITARY, SECURITY or POLICING entities. So we continue pumping money (that we dont have) into entities that are financially destructive to the taxpayer. NO MONEY is (or will be) allocated to (the desperately needed) educating/training those who were displaced by the Subprime collapse or the corporate manufacturing exodus.
2. What did Bernanke really say regarding QE2? What he said was that they would buy $600 billion of intermediate term Treasury securities by June 2011. He never said that was ALL they would buy. He never said they would stop. Considering that foreclosures are up 21% in 2010, one would have to assume (with little change in unemployment) that 2011 is not going to be much better. Hello QE3! Hello even less confidence in the dollar! Hello to the US refinancing the 35% of its massive public debt (required in 2011) at a higher interest rate. Most of the remaining 65% must be refinanced by year-end 2013 (worse yet).
3. Approximately four states are currently bankrupt with most others running unsustainable deficits. We all know that even if there was an iota of hope in reducing unemployment in these states, it would take years (and a competent congress). We all know, with the end of the Build America Bond Program, that the predicament of these states is only going to get worse. Say hello to a Federal $120 to $160 state bailout program.
4. Is there any human being, on this earth, that believes that his is sustainable:
Is the any human-being that believes that the same entity (congress) that let things get this bad, can balance the federal budget? Do you believe congress can even make a substantial difference while the country is in a jobless recovery (recession), a corporate production exodus, manic trade deficits and is financing two wars?
5. We all know that sooner or later, the main source of financing this country, government bond purchases (public debt) will collapse. Either by lack of participants or by outrageous interest being forfeited (like California, Illinois, Greece and Ireland). Since the dollar is independent floating currency, very high or even hyperinflation will occur. This leads to internal devaluation(s) against the worlds basket of currencies. The IMF will not be in a position to help. This will not be pretty in the land of 200 million guns.
Maybe a house in Equator?
Im not the sort of person that stores a years supply food/water. I dont have a safe-room. I dont even own a gun. I've never bought into conspiracy theories. I dont hoard gold. I dont believe that Democrats or Republicans are the devil (the combination of the two parties is Satan-like). I dont believe that that dollar will debase. I dont believe (as Ted Turner does) the people will be eating people. However, this is what I do truly believe:
1. The government is NOT doing the taxpayer any favors at all! It is very, very evident what needs to be done to get the US back on track. The government is going in the opposite direction. In order to get the jobs that all economists, politicians and populous are continually calling for, the government MUST INVEST IN HUMAN CAPITAL! All talk, by congress, accentuates exactly the opposite. Proposed budget cuts, entail ABSOLUTELY NO cuts to MILITARY, SECURITY or POLICING entities. So we continue pumping money (that we dont have) into entities that are financially destructive to the taxpayer. NO MONEY is (or will be) allocated to (the desperately needed) educating/training those who were displaced by the Subprime collapse or the corporate manufacturing exodus.
2. What did Bernanke really say regarding QE2? What he said was that they would buy $600 billion of intermediate term Treasury securities by June 2011. He never said that was ALL they would buy. He never said they would stop. Considering that foreclosures are up 21% in 2010, one would have to assume (with little change in unemployment) that 2011 is not going to be much better. Hello QE3! Hello even less confidence in the dollar! Hello to the US refinancing the 35% of its massive public debt (required in 2011) at a higher interest rate. Most of the remaining 65% must be refinanced by year-end 2013 (worse yet).
3. Approximately four states are currently bankrupt with most others running unsustainable deficits. We all know that even if there was an iota of hope in reducing unemployment in these states, it would take years (and a competent congress). We all know, with the end of the Build America Bond Program, that the predicament of these states is only going to get worse. Say hello to a Federal $120 to $160 state bailout program.
4. Is there any human being, on this earth, that believes that his is sustainable:
- 2008 US budget - $2.9 trillion Deficit -$464 billion
- 2009 US budget - $3.1 trillion Deficit -$1.5 trillion
- 2010 US budget - $3.6 trillion Deficit -$1.4 trillion
- 2011 US budget - $3.8 trillion Deficit -$1.4 trillion
Is the any human-being that believes that the same entity (congress) that let things get this bad, can balance the federal budget? Do you believe congress can even make a substantial difference while the country is in a jobless recovery (recession), a corporate production exodus, manic trade deficits and is financing two wars?
5. We all know that sooner or later, the main source of financing this country, government bond purchases (public debt) will collapse. Either by lack of participants or by outrageous interest being forfeited (like California, Illinois, Greece and Ireland). Since the dollar is independent floating currency, very high or even hyperinflation will occur. This leads to internal devaluation(s) against the worlds basket of currencies. The IMF will not be in a position to help. This will not be pretty in the land of 200 million guns.
Maybe a house in Equator?
