Implosion

The U.S. government is financially self-destructing, just like Greece.  Its tax revenues are falling, its spending is increasing, and it is entirely dependent on the generosity of foreigners who are willing to lend it more trillions of their dollars this year than they did last year.

Inevitably, the day will soon arrive when foreigners stop increasing the amounts they lend to U.S. politicians.  On that day, the entire house of cards will topple.

One morning, not too many months from now, you will awaken to discover that paper dollars are suddenly worth a fraction of what they were the day before.  Grocery store shelves will be empty before you get there.  Lines of cars at the few stations still selling gasoline will stretch around the block.

You might be able to actually buy some gas if you bring pre-1962 silver coins.  Otherwise, you’d better get used to walking.

Here is a poetic quote about how our rulers are mishandling the situation, from Joel Bowman in The Daily Reckoning:

“In a misguided effort to rescue the economy from the untold horrors of the ‘abyss,’ the prophets of modern central planning seek to transfer society’s means of production from the most to the least productive class; from private fist to public mouth; from worker to moocher; host to parasite.”

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This entry was posted in Corruption, Economy, Finance, Government, Obama, Politics. Bookmark the permalink.

2 Responses to Implosion

  1. Mark S says:

    Being a huge fan and subscriber of The Daily Reckoning from its inception, as well as someone with a passion for the truth like yourself, I though you might like two other sites that I think are -along with DR- the best on the internet:

    Richard Russell’s Dow Theory Letters
    http://ww1.dowtheoryletters.com/DTLOL.nsf
    – best commentator on financial markets
    – $300/year (M-F daily commentary — posted about an hour after U.S. stock market closes)
    – if you want me to send you a few of his recent commentaries just send me an email

    Financial News, Economic Education, Analysis & Data – FinancialSense.com
    http://financialsense.com/
    – scroll down to the Editorials: two of the best contributors are: Peter Schiff and Jim Willie, CB

    one more that I really like and access pretty much every day though primarily for “fun” is:

    Maoxian
    http://maoxian.com/
    – Chris is a very friendly guy and his site has lots of interesting stuff on it however I find that he is very similiar to many traders that I have worked with that are technical analysis-only traders and that are essentially perma-bullish and lack a real understanding of the language of markets and the real economic macro… that being said, I’ve learned quite a bit from his site over the years…

    best,
    Mark.

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