Economic Armageddon

I tend to avoid posting articles, but I really can't help myself this time.

I started receiving a daily financial research and analysis report from Money And Markets about two years ago. Since that time, I have seen their analysts transition from careful apolitical analysis to now downright despair. The following ultimately bleak analysis was sent out a couple of days ago. You can't help but come to the realization that we're in some serious trouble.

Who will bail out America?

Not you, not me, and not 300 million Americans! Not China, not Japan, nor all the powers on Earth put together! They’re simply not big enough. They don’t have the money.

Yet, despite the utter gravity of our plight,
nothing is being done to change our course.

In recent weeks, Congress could not even agree to study the issue. They could not vote on a deficit commission.

The president has just appointed a separate commission. But even after moons of deliberation, it will have no authority to bring its recommendations to a vote in Congress — let alone get them passed.

The president says that the effort must be bipartisan, that all options must be on the table, and that no cows can be sacred.

And indeed, this song sounds good. But it’s more out of synch with political reality than rap rock at the Bolshoi Ballet:

Democrats vow never to cut to Social Security or Medicare …

Republicans vow never to accept tax hikes, and all the while …

Economists swear that only a full-court, frontal attack on the deficit has any chance of making a dent.

http://www.moneyandmarkets.com/armageddon-10-37926

Economic Armageddon

SkyOwl's Wife

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