I Have been thinking about something quite a bit lately. What do we do to ensure our security? Does a person rely on society behaving properly, do we trust our governments to make the right decisions?
I read a friends observation posted to Facebook the other day. The jist of it was "1/3 receive government benefits, 1/3 work for the government, and 1/3 of us actually work and pay taxes to the government". That disturbed me because its true. The question I have is how long does it go on before that house of cards collapses? The US has a 14 trillion dollar debt, see it for yourself, just search for usdebtclock.org
Nobody really mentions that very much. Everyone is concerned about the deficit, the interest paid to service the debt. You know if I miss bill payments or renege on my obligations I am bankrupt. What happens to a country that goes bankrupt? Who holds the US debt? There are conspiracy theorists that claim central bankers and shadowy families hold it...I have a hard time believing that. There is, however, evidence that China and other growing economies hold a very large portion of it. What happens when they get tired of the "west" living high on the hog at their expense? They call the loan, shut off the tap, whatever you want to call it, it will be bad. Oh so you say: "That is not us, we are not the USA" If the elephantine neighbour to the south collapses on our mouse of a country...it is US.
Well I have rambled on long enough, I don't want this to be some sort of economic diatribe on my part that shows how little I understand...The answer for me though is Hard Currency, something with value, that is mine, that irresponsible governments can't legislate or tax away when it suits them. I will hold it and it will have value.
Time to get on with the plan.
I read a friends observation posted to Facebook the other day. The jist of it was "1/3 receive government benefits, 1/3 work for the government, and 1/3 of us actually work and pay taxes to the government". That disturbed me because its true. The question I have is how long does it go on before that house of cards collapses? The US has a 14 trillion dollar debt, see it for yourself, just search for usdebtclock.org
Nobody really mentions that very much. Everyone is concerned about the deficit, the interest paid to service the debt. You know if I miss bill payments or renege on my obligations I am bankrupt. What happens to a country that goes bankrupt? Who holds the US debt? There are conspiracy theorists that claim central bankers and shadowy families hold it...I have a hard time believing that. There is, however, evidence that China and other growing economies hold a very large portion of it. What happens when they get tired of the "west" living high on the hog at their expense? They call the loan, shut off the tap, whatever you want to call it, it will be bad. Oh so you say: "That is not us, we are not the USA" If the elephantine neighbour to the south collapses on our mouse of a country...it is US.
Well I have rambled on long enough, I don't want this to be some sort of economic diatribe on my part that shows how little I understand...The answer for me though is Hard Currency, something with value, that is mine, that irresponsible governments can't legislate or tax away when it suits them. I will hold it and it will have value.
Time to get on with the plan.
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