Without a REVOLUTION America is Doomed
An interesting article regarding the state of American finances. The path we are on, and what is at the end of the path.
The United States is running out of time to get its budget and trade deficits under control. Despite the urgency of the situation, 2010 has been wasted in hype about a non-existent recovery. As recently as August 2 Treasury Secretary Timothy F. Geithner penned a New York Times column, “Welcome to the Recovery.”
As John Williams (shadowstats.com) has made clear on many occasions, an appearance of recovery was created by over-counting employment and undercounting inflation. Warnings by Williams, Gerald Celente, and myself have gone unheeded, but our warnings recently had echoes from Boston University professor Laurence Kotlikoff and from David Stockman, who excoriated the Republican Party for becoming big-spending Democrats.
It is encouraging to see some realization that, this time, Washington cannot spend the economy out of recession. The deficits are already too large for the dollar to survive as reserve currency, and deficit spending cannot put Americans back to work in jobs that have been moved offshore.
However, the solutions offered by those who are beginning to recognize that there is a problem are discouraging. Kotlikoff thinks the solution is savage Social Security and Medicare cuts or equally savage tax increases or hyperinflation to destroy the vast debts.
Read the Rest HERE
The author lays it out pretty clearly, the path we are on is unsustainable. I don’t agree with some of his “liberal talking points” for instance: He blames a large part of the problem on “Israel’s territorial expansion” Now excuse me but I don’t think Israel is creating an empire anywhere. I see them lobbying for support from the USA so they are not wiped out by a bunch of Islamapukes. But the rest of it is pretty much dead nuts.
The author also spells out the future in pretty simple terms. “People will walk into a wall-mart and think they stepped into a Neiman-Marcus,” because the prices are going to be astronomical.
Other than the author laying all the blame on our Military, Israel and “neocons” I’d say he’s absolutely right. I’d suggest EVERYONE read this article in it’s entirety. It’s an eye opener and it’s not a doom and gloom piece, it’s a solution based piece of writing with a few jabs at everyone’s favorite targets.
I’d also suggest you stock up between now and December.