Government Adds Water to the Economic Spiral

Obama’s way passes in the Senate. A gamut of other opinions, both from Congress and from academia.

From a reliable source:

The U.S. will be $12 trillion in debt by 2011; it has about $60 trillion in Medicare liabilities and several more trillions in Social Security liabilities. The total is an obligation of about $80 trillion, which amounts to 250k for every man, child and grandma in the U.S. There is no chance that the U.S. can satisfy this through normal taxation. Recklessly printing money is the only option: when that day will come is too hard to call now, but it has to come in the next 30 years. To give you a perspective, the entire U.S. stock market is worth about $15 trillion, so we are talking about more than five times the entire wealth of the U.S. stock market.

Living necessities will be worth more eventually than these U.S. dollars. Give me chickens and rabbits and fish to keep, and I’ll have protein without having to get it from Safeway. And give me a gun, because I may need one for self-defence in these unstable times. Who knows where panic may come from?


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