Which would you prefer? A 77% tax increase or a 40% reduction in federal spending. According to BU's Kotlikoff these are the only solutions to our deficit issues:
Dollar Tipping Point?
Jim Rogers thinks so and based on today's price action you have to wonder if it's over:
Quick Take:
Today's price action in the dollar is not good folks. The dollar should be rallying hard right now based on all of the geopolitical chaos we are seeing in the world. It's becoming more clear with each trading day that we are no longer viewed as a "safe haven"
The signs of a collapse in the dollar are already being seen when you look real close at what the big boys are doing.
When people like PIMCO's Bill Gross sells all of his treasury holdings that are priced in USD's it's time to get nervous.
The fact that the dollar is free falling right now is a very ominous sign. Let's hope this isn't the beginning of the end.
Kotlikoff nailed it in the first video. We are using Enron accounting rules to run this country and we all know how well that worked out. The harsh reality here is this country is doomed unless we take the Draconian measures that are described up above.
It's time to stop all of the games before it's too late. Think hyperinflation can't happen here? Look up above and think again.
That's it for now. Time to drink lots of green beer and forget about the harsh realities of our economic nightmare.
5 comments:
Have a brew for me Jeff, I know I need several after this week.
Hear ya Get
You too bud
I drank more than a few tonight...radioactive cloud possible over in Japan...looks like we are entering a war in Libya...auto assembly plants are running out of parts...I think I may keep drinking all weekend long!!!
Herb
Actually decided to lay of the booze last night. TOo much work to do.
I will be in full party mode tonight tho!
Well I did not drink anymore last night, and I didn't drink any less for a Thursday. It is now Friday and it is go time!
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