It’s no joke. I don't mean to scare people but It is scary times we are living in. It could crash the market like it did in 1929. The difference now would be the crash would make the great depression that followed the 1929 crash look like prosperous times. Pensions could evaporate overnight or within one hour. Companies would have only cash and nothing else. All investments could just evaporate – Enron across the board. Imagine every single stock falling to less than a penny. Within 5 days there would not be any food in any grocery store in The United States Of America. It’s no joke and most American’s are clueless. They think they’ve been experiencing hard times when they don’t have a clue what hard times are. Some do - but most don’t. They have been living in the land of plenty, milk and honey on every corner all their lives and what could happen and become reality is beyond their realm of imagination.
Reasons US not heading to oblivion.
1.near endless natural gas = energy independence and exports and a return to manufacturing. with cheap energy America has manufacturing advantage and china looks less attractive.
2. Dollar is king because everything else is #$%$. Euro is toast and no body trusts china. What does this mean, we only have to look like we care about deficits. We could print endless c-notes to pay back our creditors with minimal inflation. Inflation only happens when no one wants dollars. Thanks to our European friends America is a relative financial success story and the dollar is a looks to rain the reserve currency. so...we keep acting like we're trying to put our financial house in order so everyone keeps buying our debt.
3. Marijuana will be a $100-200 billion industry.
So be positive and optimistic! Good things coming in the years ahead.