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I know this article is just an editorial liberally sprinkled with alarmist "end-of-the-world" nuttiness, but you know what? I think he might be on to something, and it's rather disconcerting. What do you think?
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The Daily Reckoning’s Addison Wiggin who said, “GDP measures debt-fueled consumption -- it really only measures the rate at which America is going broke.”
Bingo.
America’s biggest export is its fiat-currency which foreigners are increasingly hesitant to accept.
Can you blame them?
I'll ditto that!
This may be a painful experience for Americans who will undoubtedly see a sharp fall in current living standards.
What you mean no more one bedroom per person? We might have to share? Next thing you'll be telling me we have to start sharing SUVs too!
I agree the dollar is practically worthless...most of the rest of the article would require more research on my part.... -
D-mn that was a long articleComment
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It is imporant to rembember to stay the course with any investment strategy and not let short term events influence your long term investment decisons.Comment
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Why should it be alarmist when our government decides to stop being accountable and not report M3 money supply data or if Russia can increase their money supply 50% in one year and their currency STILL rises against ours?
We have a national debt of roughly 9 trillion and a trade deficit that equals the sum of all of the other trade deficits of other countries combined times two.
It is very obvious our government is taking steps to attempt to inflate our debt and have the Amero bailout plan on the backburner.
I don't think it is the end of the world but our next generation is going to have a much tougher go at life.Comment
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