In 1971 when Nixon divorced the financial printing business from gold, did he also divorce government policy from reality as well? There is a huge worldwide underclass of people who are unemployed, may live in mom's basement or with their parents (dependent on someone who will die one day), and really think protests will get them somewhere. The teaching profession helped create such by promoting people no matter what and inventing soccer games and relay races where everyone wins and the like. Jobs are going primarily to the baby boomers, not the ones who will pay for all the borrowing. If that group gets hungry, the late 1930s could re-appear. The productive class is aging, have most of the cash and in some cases have abandoned any responsibility for the political and financial messes we see before us. I don't know how all this ends, but it frightens me a lot when I think about implications. My advice to people I talk with about this, is to ensure that they enjoy life as much as possible today, because I think the switch will happen relatively overnight and in a couple of years we will wonder if these times were really just a vivid dream. Surprisingly, I have always been pretty positive, but reading the tea leaves has lead me to be concerned about the next 10 years. To me, it looks like the FED has failed by firing all its bullets and only managing to keep our head barely about the financial waters around us. Everything has an ending, and I look to what is beyond.