Sense of something wrong

[sreeb]

[quote=briansd1][quote=sreeb] Demographics are stacked against us as the baby boomers start to retire. [/quote]

Immigration is a great way to grow the population and the economy. Assuming we freeze spending growth, large scale immigration can provide the economic kick necessary to pay down the debt.

We could also start selling US citizenship for $1 million each. Not that rich people would want to live here, but a US passport is a good travel document and a good insurance policy againsts unrest around the world.

My bet is that baby boomers will find themselves cared for by imported immigrant nurses and health care workers. Imagine the anti-immigrant folks of today being spoon fed by new immigrants.[/quote]

Unemployment among young, low skilled, or poorly educated American citizens is very high. If you are referring to illegal immigrants, you are basically advocating importing poor people (likely more ambitious and harder working than our native poor but still poor and under educated). I don’t believe we have a shortage and I don’t think they are an economic benefit as long as we maintain a welfare state.

I favor allowing more skilled and educated immigrants.

[partypup]

[quote=sreeb][quote=Arraya]The empire is in terminal decline. Information moves to fast for a slow collapse like Rome. This baby is getting cued up for a doozy. There is no recovery per se, only collapse and rebirth. I say we hold a collapse party. Really who needs banks anyway – It’s just collective stockholm syndrome[/quote]

It could take a while (maybe months, maybe years) for thing to go south, but when it starts, it will be very fast. All it will take it a loss of confidence that the US will be able to repay its debt.

I personally don’t see any reason for a thinking person to believe the US will repay. [/quote]

Hmmm…it may also be time to revisit this thread:

http://piggington.com/us_to_default_on_its_debt_summer_2009?page=1

The timeframe may not have been precise, but I believe the outcome is.

Default awaits us – either “officially” (doubtful) or via hyperinflation (looking more likely, and guaranteed when – not if – we reach QE3.

Scaredy, I really hope you did not sell your gold!

[partypup]

[quote=sreeb][quote=Arraya]The empire is in terminal decline. Information moves to fast for a slow collapse like Rome. This baby is getting cued up for a doozy. There is no recovery per se, only collapse and rebirth. I say we hold a collapse party. Really who needs banks anyway – It’s just collective stockholm syndrome[/quote]

It could take a while (maybe months, maybe years) for thing to go south, but when it starts, it will be very fast. All it will take it a loss of confidence that the US will be able to repay its debt.

I personally don’t see any reason for a thinking person to believe the US will repay. [/quote]

Hmmm…it may also be time to revisit this thread:

http://piggington.com/us_to_default_on_its_debt_summer_2009?page=1

The timeframe may not have been precise, but I believe the outcome is.

Default awaits us – either “officially” (doubtful) or via hyperinflation (looking more likely, and guaranteed when – not if – we reach QE3.

Scaredy, I really hope you did not sell your gold!

[partypup]

[quote=sreeb][quote=Arraya]The empire is in terminal decline. Information moves to fast for a slow collapse like Rome. This baby is getting cued up for a doozy. There is no recovery per se, only collapse and rebirth. I say we hold a collapse party. Really who needs banks anyway – It’s just collective stockholm syndrome[/quote]

It could take a while (maybe months, maybe years) for thing to go south, but when it starts, it will be very fast. All it will take it a loss of confidence that the US will be able to repay its debt.

I personally don’t see any reason for a thinking person to believe the US will repay. [/quote]

Hmmm…it may also be time to revisit this thread:

http://piggington.com/us_to_default_on_its_debt_summer_2009?page=1

The timeframe may not have been precise, but I believe the outcome is.

Default awaits us – either “officially” (doubtful) or via hyperinflation (looking more likely, and guaranteed when – not if – we reach QE3.

Scaredy, I really hope you did not sell your gold!

[partypup]

[quote=sreeb][quote=Arraya]The empire is in terminal decline. Information moves to fast for a slow collapse like Rome. This baby is getting cued up for a doozy. There is no recovery per se, only collapse and rebirth. I say we hold a collapse party. Really who needs banks anyway – It’s just collective stockholm syndrome[/quote]

It could take a while (maybe months, maybe years) for thing to go south, but when it starts, it will be very fast. All it will take it a loss of confidence that the US will be able to repay its debt.

I personally don’t see any reason for a thinking person to believe the US will repay. [/quote]

Hmmm…it may also be time to revisit this thread:

http://piggington.com/us_to_default_on_its_debt_summer_2009?page=1

The timeframe may not have been precise, but I believe the outcome is.

Default awaits us – either “officially” (doubtful) or via hyperinflation (looking more likely, and guaranteed when – not if – we reach QE3.

Scaredy, I really hope you did not sell your gold!

[partypup]

[quote=sreeb][quote=Arraya]The empire is in terminal decline. Information moves to fast for a slow collapse like Rome. This baby is getting cued up for a doozy. There is no recovery per se, only collapse and rebirth. I say we hold a collapse party. Really who needs banks anyway – It’s just collective stockholm syndrome[/quote]

It could take a while (maybe months, maybe years) for thing to go south, but when it starts, it will be very fast. All it will take it a loss of confidence that the US will be able to repay its debt.

I personally don’t see any reason for a thinking person to believe the US will repay. [/quote]

Hmmm…it may also be time to revisit this thread:

http://piggington.com/us_to_default_on_its_debt_summer_2009?page=1

The timeframe may not have been precise, but I believe the outcome is.

Default awaits us – either “officially” (doubtful) or via hyperinflation (looking more likely, and guaranteed when – not if – we reach QE3.

Scaredy, I really hope you did not sell your gold!

[scaredyclassic]

I still believe in gdx and gdxj gold mining shares helped pay for some of my downpayment. I wouldve kept it all in there but I felt we needed to not have too much at riSk so we could have cash for the right house. SLW also.

[scaredyclassic]

I still believe in gdx and gdxj gold mining shares helped pay for some of my downpayment. I wouldve kept it all in there but I felt we needed to not have too much at riSk so we could have cash for the right house. SLW also.

[scaredyclassic]

I still believe in gdx and gdxj gold mining shares helped pay for some of my downpayment. I wouldve kept it all in there but I felt we needed to not have too much at riSk so we could have cash for the right house. SLW also.

[scaredyclassic]

I still believe in gdx and gdxj gold mining shares helped pay for some of my downpayment. I wouldve kept it all in there but I felt we needed to not have too much at riSk so we could have cash for the right house. SLW also.

[scaredyclassic]

I still believe in gdx and gdxj gold mining shares helped pay for some of my downpayment. I wouldve kept it all in there but I felt we needed to not have too much at riSk so we could have cash for the right house. SLW also.

[an]

[quote=permabear]Defense spending needs to be cut drastically – at least back to Clinton levels. It is insane right now, and is the single item bankrupting the U.S. – not SS or Medicare or anything else. The 2009 U.S. military budget accounted for approximately 40% of global arms spending. That’s over SIX TIMES larger than the military budget of China.

Seriously, just look at this:

http://en.wikipedia.org/wiki/List_of_countries_and_federations_by_military_expenditures%5B/quote%5D
According to that wiki link, military spending as % of GDP is 4.3%. Here’s the break down of government spending as of 2006: http://en.wikipedia.org/wiki/Government_spending.

Pensions $747.1 5.7
Health Care $783.8 6.0
Education $900.8 6.9
Defense $622.2 4.8
Welfare $411.4 3.2
Interest $312.3 2.4

[an]

[quote=permabear]Defense spending needs to be cut drastically – at least back to Clinton levels. It is insane right now, and is the single item bankrupting the U.S. – not SS or Medicare or anything else. The 2009 U.S. military budget accounted for approximately 40% of global arms spending. That’s over SIX TIMES larger than the military budget of China.

Seriously, just look at this:

http://en.wikipedia.org/wiki/List_of_countries_and_federations_by_military_expenditures%5B/quote%5D
According to that wiki link, military spending as % of GDP is 4.3%. Here’s the break down of government spending as of 2006: http://en.wikipedia.org/wiki/Government_spending.

Pensions $747.1 5.7
Health Care $783.8 6.0
Education $900.8 6.9
Defense $622.2 4.8
Welfare $411.4 3.2
Interest $312.3 2.4

[an]

[quote=permabear]Defense spending needs to be cut drastically – at least back to Clinton levels. It is insane right now, and is the single item bankrupting the U.S. – not SS or Medicare or anything else. The 2009 U.S. military budget accounted for approximately 40% of global arms spending. That’s over SIX TIMES larger than the military budget of China.

Seriously, just look at this:

http://en.wikipedia.org/wiki/List_of_countries_and_federations_by_military_expenditures%5B/quote%5D
According to that wiki link, military spending as % of GDP is 4.3%. Here’s the break down of government spending as of 2006: http://en.wikipedia.org/wiki/Government_spending.

Pensions $747.1 5.7
Health Care $783.8 6.0
Education $900.8 6.9
Defense $622.2 4.8
Welfare $411.4 3.2
Interest $312.3 2.4

[an]

[quote=permabear]Defense spending needs to be cut drastically – at least back to Clinton levels. It is insane right now, and is the single item bankrupting the U.S. – not SS or Medicare or anything else. The 2009 U.S. military budget accounted for approximately 40% of global arms spending. That’s over SIX TIMES larger than the military budget of China.

Seriously, just look at this:

http://en.wikipedia.org/wiki/List_of_countries_and_federations_by_military_expenditures%5B/quote%5D
According to that wiki link, military spending as % of GDP is 4.3%. Here’s the break down of government spending as of 2006: http://en.wikipedia.org/wiki/Government_spending.

Pensions $747.1 5.7
Health Care $783.8 6.0
Education $900.8 6.9
Defense $622.2 4.8
Welfare $411.4 3.2
Interest $312.3 2.4

[Author]

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