Brother Crispy, you may have just coined the phrase of the century. Folks, you heard it here first, on ET!!!
Yeah there is a lack of understanding of balancing accounts. The thing that shocks me is they seem to think it will go on forever.
While China and the rest of the world will buy US debt then Washington will spend it. If China and the R of W were to suddenly say no ! Not without collateral, then Washington might, yes might just get the message. The UK finally paid off their wartime debt to the US in the 1970s. None of this cowardly printing more paper money until it becomes as worthless as toilet paper scheme. What in the US is worth $16 trillion to stand as collateral. Even California has so f*cked up its finances it's bust ! Incompetent management imho.
POTUS speech sometime in the future - "Fellow Americans, it is with great humility that I must report the following news....we can no longer manage our debt obligation.....the cost to run our government ,entitlement and social programs have grossly exceeded income...and we cannot, for lack of a better term, pay our bills...it is with sadness and embarrassment that I must announce we will no longer be making coupon payments on our treasury bills, treasury notes or treasury bonds...essentially we are broke...." This will come in the morning after EU and AsiaPac have already released their version. Sounds insane right? Its coming. Strap in. Debt cannot go parabolic forever.
I don't think it is far off people violently removing governments and then imposing totally different laws. One thing I think will come out of that regardless of what type of government gets in laws will strengthen.
Assuming even if they did what could they do. I put forward suggestions but they don't care. If anything I am persecuted for doing so. I have better work which you do not see on the forum that could resolve a lot of problems but they juast attack me. Seriously when ever I go to an event or even discuss stuff I just get attacked. It got to the point that I was getting so many problems from warning people what will happen, a lot of which has come true, that I had to stop attending events and contacting certain people. I now just predict things and get them published so I can prove I said it at a certain date and that I went to the trouble of doing something and warning people. I have a good track record. I said the UK chancellor's plan would not work. http://morganisteconomics.blogspot.co.uk/2012/01/what-i-think-of-george-osbornes.html It did not work. http://blogs.telegraph.co.uk/financ...rnes-economic-plan-has-self-evidently-failed/ I predicted which countries in the Euro would fail. I got it perfectly right. http://morganisteconomics.blogspot.co.uk/2011/11/tip-on-national-investment-analysis.html The links for evidence are in the article. I think the method I use is good it got every country right to the exact prediction. There are a couple that will enter it soon. You can find out about them if you read my book and then use the data on the Euro Crisis page on my blog. Do you think my strategy of getting stuff published and then using it to prove my ability to predict and explain why things are failing works?