I am really intrigued by this “never bet against America” sentiment. Part of me feels this way: that betting against America is one of the surest ways to lose money.
But on the other hand, this just feels different. We seem to have boxed ourselves into a corner that we cannot get out of. We cannot roll over our debt forever (without abusing our reserve currency status into oblivion), we cannot make meaningful cuts in our federal spending, and there just doesn’t seem to be enough potential growth to make up the difference. Right now, we are simply trading the world’s trust in the dollar, for a little bit of time.
Where do you see this “step forward” coming from? From growth? From budgetary discipline? Do you really see this as the same country that has always emerged victorious, or has something changed? I am not arguing, in that I think that this country is blessed. But I just cannot see how this trap is avoided.
“We seem to have boxed ourselves into a corner that we cannot get out of. “
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Feh.
America is confused right now. That is temporary.
We no longer have a majority who believe in the founding principles.
Ours is a failed system and we are to blame.