Thats great news! Didn’t realize we had that much time to prepare.
Thats great news! Didn’t realize we had that much time to prepare.
Complete societal collpase? Not very far to fall....
The link does not go to an article.
He’s been saying the same thng since 2009—and the market is up 60%. He eventually will be right.
According to a recent WSJ article, the most recent fiscal year federal revenues approached the record collections of the last year before the meltdown. So revenue is not the problem. Spending is.
Here’s a little arithmetic lesson I give to liberals that pisses them off. The deficit is a $trillion. Welfare spending is a $trillion. Income tax collections last fiscal year were $1.1 trillion. Only a third of the welfare costs ever get to the intended beneficiaries. 2/3 of a $trillion got stuck in the hands of those who decide who is eligible, which doesn’t require much work, since everyone is eligible.
Our cities have spent themselves into debt to the point that they cannot afford to maintain civil order. Eventually, at these deficit levels, the feseral government will not be able to afford to defend us, and this glorious experiment in freedom and self rule will be over.
Now for the arithmetic. To make up the deficit with income tax revenues, income tax collections will need to approximately double. There are not enough rich people to even come close. That means that tax collections from the middle class will need to almost double.
A tax increase of that size would be so devastating to the economy, not to mention to the lifestyles of the upper middle class liberals, that even liberals politicians wouldn’t dare.
Faber may be right.
First and foremost, the tax increase on dividends and capital gains could trigger a selloff, as investors move away from dividend stocks and harvest their gains this year, while rates are still low.
In five years, sovereign debt will paralize government, and completely undermine civil order, as is already happening in Europe.
HERE’s THE LINK: http://www.cnbc.com/id/44031717
Finally, the Zombie Apocalypse.
Nothing new. Americans have been perparing since 1976 for society’s collapse. Remember in the 1980s when Kurt Saxon went on the Phil Donahue show and said not to store gold as it would also be worthless? He said store SEWING NEEDLES as these would be more valuable than gold after society’s collapse.
Some of us started preparing for this as far back as 1960.