gfp: Consider the source of the article. The country is $20 Trillion in debt. Baby boomers by the thousands are retiring and latching their teeth on the government tit. Job creation is insufficient to create the wealth necessary for all the spending to continue forever. Medicaid wastes Billions of Dollars a month. Medicare does the same thing. Lawyers specialize in advising clients how to move and transfer assets to make themselves look poor enough to qualify for government funded long term care. The only thing keeping the country's wheels from falling off is the Fed's printing money. That's it. And sooner or later the Dollar is going to suffer a serious crisis and the cost of living in America is gong to skyrocket. The young people of today cannot create enough wealth to be able to raise sufficient tax revenues to pay current government spending, interest on the $20 Trillion we already borrowed, and future promises. It is mathematically impossible. This, on top of their unfortunately large student load debt and the high cost of real estate and rents in the places where good jobs might be available. We, and our politicians, are living in some fantasy land where we can spend to oblivion, borrow to oblivion, and print to oblivion with no repercussions. We can't. Which is why we must be leery of the Deep State who would like nothing better than a Third World War to thin the herd and have a crisis to blame their fiscal clusterfuck on.
Overnight we saw Europe bail out two insolvent Italian Banks, which goosed the European markets. It carried over to our markets early, but that phony algo rally has now collapsed. At the same time some Fed proxy dumped $2 Billion in gold futures. But surprisingly the miners are only down a little over 1% so far. The Fed better expand the Plunge Protection Team, they're going to need all their manipulations working 24/7/365 to keep this Ponzi going.
