It’s like waiting for the results of a biopsy, where the doctors think it will probably turn out okay, but there’s at least some minor chance that you have terminal brain cancer.
Quoted from Tom Tomorrow
It’s like waiting for the results of a biopsy, where the doctors think it will probably turn out okay, but there’s at least some minor chance that you have terminal brain cancer.
2 comments:
I don't think the election will change anything. Nancy Pelosi will still be speaker of the house and that's all I need to know. The president will have some minor impact, but the fiscal train wreck will only get worse.
The more I get into what's happening, the closer I get to bottled water, gold bars and shotgun shells. No, not yet, but in the back of my mind it's there and it never was before.
Iceland is bankrupt and so is Hungary. Argentina, Greece and Italy will default within the next 24 months. The entire European banking system is exposed to monstrously huge losses and I can't figure out how France, Germany and England will escape the blast radius. The magnitude of their exposure is more than 10x the size of our subprime loans problem. Deutschbank avoided declaring a loss in the last quarter because the panicked German government allowed some last minute changes to their accounting rules.
All of this stems from loaning money to entities that can't repay it and giving money to people who don't produce. We've managed to stay about 10 years behind the Euros in the adoption of handout policies and I used to think that the collapse of Europe would serve as a wake up call to us. If Pelosi gets a big enough majority and a willing President, we may cross those 10 years in a wink of an eye.
So far, her deficits have been $162B then $409B and there is some talk of this budget being $1000B in the red. This does not include the bailout costs. The costs of Obama's proposals and the ones coming out of Pelosi's mouth are mammoth.
There is no money. There is no money for a health care plan. There never was. State pension plans are going bankrupt. California's Democrats have spent the state into massive deficits. Personal debt is huge. Meanwhile, it looks like we are about to elect Santa Claus and his elves.
Good luck with that.
Addendum: Promise and entitle and give all you want to the "needy" because the producers will always be there to pay for it.
Right?
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