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Is Dow 9321.10 Good for America?
One glaring example is letting banks report impressive profits by changing accounting rules so they don’t have to deduct their losses in derivatives by marking them to free market prices.
Another is an official unemployment rate half the actual rate when people are dropped off the rolls, work part-time or just give up looking for jobs and trade exported to surplus economies.
Third is the staggering apparent loss of common sense by elected leaders and their politicized appointments. Do they really believe what they say?
Politicians believe deficits don’t matter and they can fix problems caused by too much debt, taxes and usury by borrowing, spending and taxing even more.
The rest of us know this is more baloney malarkey, as people under Mao and Stalin learned not to believe or trust Big Brother. They are from the government and they are here to help themselves at our expense.
The fact is, most middle American majority lost so much in homes and pensions, they cannot afford to retire even if they have work. They are out of the market, which they consider a rigged sideshow for rich people. They would like to secede from the economy to live off the grid if possible.
Americans and US creditors wonder what happens when $200 T in derivatives, $100 T in unfunded Medicare, Medicaid and Social Security Trust and trillions more in Defense spending on endless wars, plus the interest on the accelerating national debt becomes much more than economy, tax receipts and borrowing can service.
Proverbs reminds US The borrower serves the lender. Right now government debts are sucking the life out of the economy and printing more money has failed to reinflate most prices except manipulated markets.
How can we borrow to spend our way out of debt without losing our freedom or having a bank holiday?
We cannot. Our only solution and salvation is to produce and save more, and not depend on government.
Cash may be king, particularly if the US Dollar tests the 70.70 lows of last summer and the economy continues to contract. Everyone may wish they had more cash available at home…
Regards*Rich at JubileeProsperity@gmail.com
