Marc Faber, author of Gloom Boom and Doom Report says many Western governments would eventually follow the US 'inevitable' debt default suit including Portugal, Ireland, Greece. Marc Faber doesnt give America much time before it goes bust and he says he will never sell his gold as governments inflate as a consquence of liabilities. http://www.marketoracle.co.uk/Article17056.html
I'm glad I stocked up for enough to make 3 years of beer and bread. Getting the hang of making beer from all grain. Right now it is a hobby and provides a bottle of beer for about $0.12
It is a fatal flaw in some Teutonic mindset to see their own mortality as a time of apocalypse for all of mankind.
Yeah, I find it really sad (and disturbing) that, even if Faber is wrong on the extent of his warning, life just goes on without hardly a concern that he COULD be right. Unless somebody is over 70, we never experienced life without plenty, or at least plenty of opportunity. It is frightening to me that my upcoming "Golden Years" might be more like "Rusty Metal Years" and my sons, who both are in college, might not be afforded an opportunity to have a prosperous life. I think that in some ways we have been blessed to have been alive during the most prosperous times in human existence, but on the other hand it is more painful when it goes away.
There's no point worrying about your kids' future, as there will be plenty of opportunity and obstacles in front of them. Although the upcoming decade looks pretty shitty... but looks can be very deceiving.
Candidly, years 2011 and 2012 should be somewhat tough and beyond that it should be just fine. But do not expect US financial house to get into order as main chiefs of the ship are doing nothing to take a U turn from the approaching iceberg.
As long as the US military is the most powerful in the world, there is no threat to US government debt. Debt is an illusion. It is a confidence game. I think the only threat to US government debt would be a regime change of the shadow US leaders, by a civilian revolution.
That's OK with Obama, The Libtards, and The Progressives... just so long as you sons don't have more than anybody else. THAT's the REAL message of Obama's "Fundamentally transform America"..