Posted on 02/13/2013 8:04:51 AM PST by Kaslin
I already seen this happen to a few friend’s parents. One friend’s dad is like 72 years old and he had to go back to work. Not in the best of health either. For my parents, they are in their late 70’s and if the stock market more than totally tanked tomorrow, they would be screwed. My dad would have to spend some money to get his architecture license active again. For myself, I am trying to keep my investments from losing value but unless things, I am pretty well going to have to work until I die.
On the bankers, the system is setup where you are penalized if you are debt free like the home mortgage deduction. But then have a mortgage, if you cannot pay it, you lose your house and you must be much more dependent on a paycheck and corporate interest can hold that over you. Don’t play the game, you are out of work and no check to pay your mortgage.
> Forcing people to defer retirement or come out of retirement to join the “secondary” employment market (scut work) for hand-to-mouth wages, as a way of sloughing off politicians’ promises of the last 60 years.
Deflation is much worse than inflation. Neither is very good though.
I read that there is a re-evaluation coming.
</sarcasm>
The Chinese were saying the same thing as the Europeans about the dollar back in 2009. There was much talk in various parts of the world about abandoning the dollar as the world’s reserve currency.
That talk has gone silent in the last 18 months or so.
Why?
The whole monetary bias has shifted toward the dollar in the last 18 months as the money center banks have come to recognize the financial effects of shale oil and gas fracking revolution.
The effect of fracking has been to reduce us imports of oil and oil products by 250 billion annually since 2007. The US is now expected to be oil independent in 5-7 years. That means 500 billion dollars won’t be going overseas every year anymore.
Fracking also means that the US now has 100-200 years worth of extra oil and natural gas reserves. This represents an extra 50-100 trillion (that’s with a T) dollars worth of oil and natural gas backing the dollar.
There are no energy independent countries with weak currencies.
We have always been at war against Eastasia.
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