Posted on 03/09/2011 7:41:22 AM PST by EBH
If the country cannot come to grips and cut back on entitlement programs, U.S. debt will continue to grow and governments around the world will loose faith in the U.S. dollar. Foreign goods would become more expensive, says Gross, while our standard of living would drop.
Under the second option, if entitlement programs are cut, many Americans would naturally have to learn to live on less and take a hit to their standard of living.
There is really no way out of this trap and this conundrum at this point, says Gross. From an investment perspective his advice is to stay clear of bonds in dollar denominated terms and to be wary of higher interest rates going forward.
(Excerpt) Read more at finance.yahoo.com ...
Not to nit-pick, but you left off Arts and Humanities-type funding! Oh, and Planned [Genocide] Parenthood and NPR.
Option #2 is the wrong option and will make the economic shutdown much worse later on. As for option #2, it’s too late. The overspending and debt regime has gone too far. That would shut the economy down now. We’ll have to take our poverty pill either way. But then I’m only trying to paraphrase what Bill said.
Ping.
Here are the Globalist Bankster meat-puppets that did everything they could to run American into the ground. Everyone of them piled on the debt, keep the borders wide open, shipped the jobs out, and saddled us with more rules and regulations.
Do you think voting for more Republicans and more Democrats will save us?
I formerly started preparing Nov. 5th, 2008.
Really, I did. I had faith if, even McCain, won we might still have had some semblance of reversing things.
When I awoke on Nov. 5th to the 0bama win...I started moving things, storing things, and buying a few things...
People thought I had gone bonkers, not so much now.
Everyday things get a lot more outrageous.
The self-loathing Liberals WANT this country to fall. They hope to pick up the remaining pieces and rule like royalty over an impoverished country. Sound crazy? The world is full of countries like that.
Go to the link...
I just copy pasted the excerpt, not typed it.
Q.E. Money Printing Negative Feed Back Loop to Hyper-Inflation Oblivion
Best post on the whole debt issue. thanks
Do you think voting for more Republicans and more Democrats will save us?
Rigging elections is child's play compared to rigging the financial markets.
PIMCO (biggest bond fund) Dumping All Treasuries, Bringing “Government Related” Holdings To Zero
http://www.freerepublic.com/focus/news/2686157/posts?page=6
uh?
I hear ya.
There is no way our elected officials have the political will to make the necessary cuts...the political system has evolved over a period of a full century to ELIMINATE anyone who does not say "more".
And, there's absolutely NO WAY Americans are going to pay back the first trillion dollars, much less the innumerable trillions of debt that will pile up before nobody will loan us another dime.
The only solution is default, new regime and new currency. That's it.
It's the only option left.
I put it a bit more succinctly. We ain't voting our way out of this sh**.
I agree with the cuts you mention but that would mean cutting thousands, if not millions of jobs. How can we deal with even greater unemployment?
Are they productive jobs? Because if they are not, then they are nothing but glorified welfare - people pretending to work while being paid with money stolen from people that actually do work.
Think about this for a minute - take the typical EPA job. Here's somebody who gets paid to be an obstacle to other people being productive. In other words, employing people at the EPA and other overbearing regulatory agencies has served to eliminate other jobs in a quantity much larger than the quantity of jobs that they possess themselves.
I realize that. No reflection on you...
Oops. In #23, I meant to write that Option #1 is the wrong option—not #2. But it is also too late for #2, and Congress won’t do it.
But that just fuels the “we need our Congressmen to push to get more spending HERE!” frenzy, from what I’ve seen.
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