While I am general agreement across the board on what you say about the economy and Bush, I find it curious that your sole investment seems to be in T-Bills offered by the same government you appear to have such disdain for.
It's not the gov't, it's the people who are making policy that only benefits the top 1%. That's pure greed. Look at the record deficit numbers. The tax cuts, they are not working. The Fed fund rate at 1%. Where's the money to come from to fix things? YOU!
48 out of 50 states are bankrupt, last time I checked (likely all 50 by now). Where's the money to come from to fund the public school system, for a major example? From your real-estate tax! You John Q. Public will bear the tax burden, so much for tax cuts! We just had the recent primary and also the school levies, police, levies, and so on at the same time. Out of all the school levies on the ballot, there were close to 80 in the tri-county area, only 3 passed, and they were renewal levies!!! The police, fire, etc., levies were all voted down. And these levies didn't lose by a few percents, they were landslide losers, i.e., 78% No to 12% Yes, for example. I saw a 90% that voted NO.
What's this telling us? IMO, the voters are broke! A few years ago, I met an Oregonian, who said that kids in his community have half-day classes? It' happening all over the country. In our local area, they are talking on having a 4 day school week, with extending the day by a few hours to make up the diff. The quality of education will suffer, by cramming the kids in a 4 day school week. Performance will suffer, try cramming a young mind with high-end math courses in a four day week? Not good.
How do we get out of this mess? Only way I know is raise taxes on the top 5%, for starters. Stop sending cash to build schools, hospitals, infrastructure to Iraq. Send the money to the states, instead. The shrub is doing a great job for his cronies, and he was the education pres? Gimme a break. So, what's to happen if the voter keeps saying no to the levies? Schools close down? How do we prepare the future generation to compete in the world marketplace? A change in leadership is a start, but to undue the damage done already in four short years, is a monumental effort for the next leader of the free world. Why do you think Lou Dobbs keeps talking each night on the exportation of jobs? He understands the damage being done, the risk. And look at the CEO compensation, Warren Buffet was fuming in his recent 12,000 words to his shareholders about that. Wolf Blitzer interviewed Donald Trump a few days ago, and asked him about who he favors politically. His short answer was, "I have always done better with a Democrat in the White House." I nearly fell off the couch!
In order to fund the twin-mega deficts is by raising rates, _significantly. There's no other way, else the dollar crashes. Then there's the stock market. Once this "brief" wealth affect vaporizes, the markets fall off the cliff, reality comes in front and center. By then it'll be a dollar short and a day late.
T-Bills, they are great. When the unwinding process begins in earnest, T-Bills will rule. There's no place to hide, cash rules. eom).
"48 out of 50 states are bankrupt, last time I checked (likely all 50 by now)."
Citiation please, I am not aware of any states that are bankrupt. If you are referring to "bankrupt" as struggling to balance their budgets, you may be close, but only because the states (as the Federal Government) couldn't resist funding all sorts of programs to make sure they spent every revenue dollar during the boom years of the 90's. If there are not enough funds for police, fire and education it is only because the voters have not made those items a priority and prefer to spend their money on a bigger house, a nicer set of SUVs in the garage, etc. I also have issues with W's administration, but I think that it is a stretch to blame the tax cuts for all of the federal and state budget problems.
So you think that the Federal government should fund local needs! You must be nuts. The more hands money goes through, the less of it ends up at the job site. Local things, like schools, fire departments, police, etc., should be funded locally. The federal government has grown into areas it was never intended to be in, and will continue to grow. Members of congress are glad to tax you, then give you a small portion of the money back via "federal funding" so they can posture and get re-elected based on how much pork the got for their constituants; never mind that what comes bears little resemblance to the amount taken.
You seem to think the Federal government should control everything. Collect all the revenues, disperse all the funds.
Not the kind of country the founders envisioned! Maybe you should try Cuba. I understand their literacy rate is much higher than ours.
Thanks for your response. Again, I agree with your concerns. Guess I'm not as pessimistic about the markets because I believe there is much money and greed out there that'll be chasing securities just because there's nothing better to chase.
T-Bills don't sell well to pension funds, mutual funds, and people trying to fund retirement accounts. Most of us are vulnerable if things are as dire as you state--and it really could be that bad.