Look, all this stuff is bad. Bad, bad. What the f/ck are we going to do? Nothing, that's what. It's TOO LATE.
-We owe $15 trillion.
-The present value of our unfunded liabilities for Soc Security, Medicare, and Medicaid total $60 trillion (and we have $0 today).
-We are running trillion-dollar deficits every year for the next 10 years.
-Europe is broke.
-Financial institions and businesses are failing again.
-College graduates owe 1 trillion in student loans and they can't pay it back because they can't get jobs.
-We've lost our manufacturing base...everything is manufactured in China.
-The states are broke, and getting worse.
-The Post Office is broke.
-Millions of baby boomers are beginning to retire and they will have their hand out.
-14% of the population gleefully collect food stamps and they don't see a problem at all with the ecomony (no surprise)
-Consumers are saddled with more mortgage debt and credit card debt than ever.
It's just over for us, but no one wants to accept the reality of it. Socialism and spiraling debt are eating away at us like a cancer within, and NOBODY IS STOPPING IT.
Futures are blood red again. Really, I'm not kidding. We're f/cked. Tell me I'm wrong.
Relax, these are the GOOD TIMES..
just wait a couple years!!
Remember when a 1 wage earner could afford a family
and send kids to college?
Stuff like that...the GOOD Ol' days.
THESE will seem like GOOD OL' days too!
IMF DEBT SLAVERY coming to a country YOU live in.
Everything you are saying is right except the part about socialism. It's corrupt unregulated capitalism that creates social programs including corporate bailouts. Capitalism is doing fine for the few. The gap between the rich and poor is wider then ever in our history.
So why do you suppose we are in this situation?
Maybe because it won't matter in a year.
Maybe because it won't matter when oil becomes a reason for war, ooops sorry we are there already, rephrase reason for world war.
Yep furture does not look good, so what do you do?
Enjoy this time for what it is, the greatest time in history.
Make each day count and teach your kids to live simple lives and be self sufficent.
Its all we can do without a full blown revolution.
PS my sentiment should be sell. Nothing greece is doing will be good for the S&P in the near to mid term future.
If Greeks actually vote to leave the Euro, 2008 will look like a picnic.
When things get really tough, Americans will come together and people we start to focus on the good things in life like family and community. Yes, we will all be broke money wise, but life will go on and the sun will rise again. Things are usually not as good or bad as things seem. Remember right after 911, Americans were more united than I have every seen. I have also seen natural disasters and how people came together. GLTU.
Everything you've stated is true.
But global governments including the US will continue to kick the can down the road, and reward those who cheat the system, are uneducated, or abuse the government handouts, and penalize those who pay their mortgages and bills on time, or try to save money.
There will be food wars, more bank failures, and most families will own guns and put barbed wire around their houses.
This will get a lot worse.
I sucks that now, as an American, if you work your butt off in school and get good grades, get into a good college, work your butt off some more, and then get a good job that pays well and work your way up the ladder and are 'successful', you are now considered an evil pariah of society that must have cheated to get there. Success and wealth is now viewed by main street to be synonymous with corruption and greed, which is ridiculous. The whole point of America is to try to become successful. Now the general population all want hand outs and try to find scape goats for their issues. Granted, some issues are real and need to be addressed (e.g., sky rocketing healthcare, food, and gas prices and unemployment), but the whining scapegoat mentality of the US is disturbing.
One lesson I've learned in life is not to worry about things you have no control over. Most of the things we worry about never come to pass anyway.
The best thing you can do is try to prepare for whatever outcome you think is coming. Get in touch with fraudstreet, he has some good ideas about how to cope with the changes coming our way.