Wednesday, February 16, 2011

Prepare for the crisis. It's coming.

"CONCLUSION...There is no way off the train. The train is going to go over the trestle. The Establishment is committed to kicking the fiscal can. There will be no budget cuts. There will be no balanced budgets.

There will be a crisis when the budgets cannot be financed at anything under 20% per annum except by mass inflation by the FED.

Prepare for the crisis. It's coming."

Setting the Government’s Agenda

February 16, 2011
by Gary North

In this report, I am making a point: the country is headed for a fiscal disaster, and there is no broad-based political movement inside the country to put on the brakes. The train is headed for the collapsed trestle, and it is speeding up. The President as the engineer is talking about slowing the train a little, but he has not yet put on the brakes.

No one will put on the brakes.

This has enormous consequences for your financial future. You cannot easily get off the train. It is speeding up. The faster it goes, the more expensive it is to get off.

The voters are not aware that there is anything really wrong. They are once again running up credit card debt. They figure that happy days will soon be here again. Yet the deficit is $1.5 trillion. “No big problem!” Congress says. “Nothing that a $100 billion spending cut cannot solve.”

Let’s see if they impose that budget cut.  Read More