From Garbage To Gucci

[wrongjoe]

I saw an interview with a retired economist who used to be an economic advisor to the Nixon administration. He had some very scary facts to share. The total US is spending 7% more than the total GDP. This is the highest gap in history, and about double what it was in the early 70s. The Chinese are supplying both the goods that we're buying, and the money that we're buying them with. It's a scary scenario. We've been living on credit for a long time, and unless the economy continues to expand, it'll all come crashing down. 7% is a very steep figure to overcome. The 'fixes' that the economist recommended are common sense (mandatory savings program, fix medicare and social security), but will never happen until the country is in crisis.

The current Republican congress spent 45% more than the previous Democratic congress.

Expect the dollar to continue to fall. Foreign investments are looking better and better.