[quote=SK in CV][quote=Allan from Fallbrook]Shoveler: What SS money? Dude, politicians have been treating this like a massive cookie jar and replacing actual money with IOUs for years.

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Irrespective of the fact that it’s the only allowed investment, what’s the better alternative to US debt in the SS trust fund? Stock market would be better? Gold? Cash?[/quote]

SK: Well, my post was simply pointing out the fact that the SS trust fund was essentially stuffed with IOUs and headed for insolvency.

Stock market? Nope. Still overvalued.
Gold? Nope. Definitely overvalued.
Cash? Nope. US currency is significantly debauched.

We’re basically hosed. As I pointed out in a previous post, this is a Balance Sheet recession and the debt overhang will have to be dealt with before any serious positive motion begins.

This is why all the various central banks moves have been smacked in the face with the Law of Diminishing Returns and repeated Keynesian “pump-priming” has proved ineffectual at best (we’ve “spent” trillions and barely moved the needle.) Our politicians not only lack the will, they lack the right answers, too.