Just watched a program on CNN called IOUSA and a followup hour discussion. It was well done in that it wasnt the usual "Republican fault" - "Democrat fault" crap. If it shows up online or is rerun, WATCH IT....I will again because, honestly, the information so pissed me off, I am sure I missed some great info.
It explained what is going on - that its been going on a while - why its bad - what is coming and the followup was a discussion in how to fix it. It made the current financial problem understandable and also tended to scare the hell out of the watcher - AS IT SHOULD.
People should be scared. Rome fell for 3 reasons: 1 - they were over extended militarily 2 - moral decline and 3 - financial crisis....sound familiar?
The USA is DEAD LAST when you rank Trade Deficits. LAST....and last by TRILLIONS....
Japan owns most of our debt, China is second and "Oil Countries" - think Middle East - is 3rd.
The USA has the greatest trade deficit with China - like you needed anyone to tell you that... The reason that trade deficits are bad (as explained by Warren Buffet) is that eventually you send all your wealth someplace else without bringing any of someone else's wealth here... DUH....
If you add up all the "Promises" - SS, Medicare, things we have already spent and owe....we owe 53 TRILLION dollars - that looks like this :
There were several options to fix....but the consensus is that we are GROSSLY being taxed without being represented. That the President and the Congress for the last 200 years have SCREWED US TO THE WALL....
This "tax the rich" crap will fall by the wayside because the above problem is so huge, EVERYONE's tax rate will HAVE TO go up. You will have wait longer to get any Social Security from the Government. That means, FUND YOUR OWN RETIREMENT. Unless you want to work until you are 75.
There was an interesting comment by a lady who said that SS should be determined by your job. For instance, a construction worker will not be able to work as long and should get SS earlier and he will probably not live as long either in relation to a guy that just sits all day and uses his head/mouth - he can work longer without any physical probs. This was an interesting point as I had never thought of it before and tended to agree.
On a side / related note, last night we went to dinner with friends. A friend who knows I am "nuts" had 1 question: "So, what do you think is coming? Why do you prep?" Its technically 2 questions, but the same answer....
I told her - when other countries no longer buy our debt and our government continues to print money, you will have a drop in price of items to get people to buy (deflation) followed by a large increase in price of items because less items are being made and there is a TON of dollars in the system (inflation). I prep so that I will be able to ride through these, not unscathed, but not paranoid and scared. I then believe ultimately there will be tax revolts.
The same thing that started this country will put Her back on track. This time around we will be fighting Congress and the President. My prayer is that we will at least have some inside men - men like Ron Paul. We will also be fighting Islamic extremists. Do not think for a minute that the grace we have been shown these past 7 years will continue with the WEAK choices Obama has filled his Cabinet.
Our Country is teetering - you feel it - people who have their head in the sand feel it - The WORLD KNOWS IT - the "when" we will be hit again is coming soon.
However, the terrorists want it to be the final nail in the coffin - I think it will be the shot heard round the world..... We arent some prissy country that grew out of some kingdom. We are Americans. Our heritage is one that throws off oppression - rises to meet adversity and takes on difficult situations.
I wave my flag: "Come and Take It" - give it your best shot Congress, Mr. President, Cowards - Because when all is settled and done, we Americans will be here - we will be here Strong - we will be here Armed and we will be here Free.
Now, who wants Tea?