You could not PAY me to hold any US Treasury debt right now, and like the US Dollar, they will soon be scraps of paper....without ANY value.
I see nothing on the horizon with our current Adminsitration, Politicians, or Fed officials that inspires the least bit of confidence in me that they have the ability or wherewithal to do the right thing for the long-term prosperity of this nation. They are all bozo's.
Buy the Dollar why don't you...you'll have a 'religious' experience!
The gargantuan US indebtedness and current political policies pretty much guarantee (1) the US could very well be the next third world banana republic, and (2) a currency devaluation HAS to happen.
By "Spring" 2010 the public finances of major Western nations will be unmanageable...more bailouts will be needed because of the failure of the 2009 bailouts/stimulus efforts. This is the cost of kicking-the-can (problem) down the road into the future and relying on public expenditures and printing money rather than making thethe financial system pay for its mistakes.
The Middle Class will be impoverished, and the retired and the poorest among us will be set adrift.
Well, this IS "change" albeit NOT what you all thought you had signed-on for. I "hope" I'm wrong, but the numbers suggest that a tipping-point is very near....perhaps as soon as Spring 2010. The smell of it is already in the air........
Friday 18 December 2009
The smell is in the air..............from Rico
From Theo Spark at 07:58
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