Nixon closed the gold window in 1971. Politicians and bankers were unleashed to spend at will with no consequences, for awhile. The first wave of the tsunami of consequences hit in 2008. Rather than learn and change our ways, the politicians and bankers have doubled down on debt. The next wave is rapidly approaching our shoreline. This tsunami of consequences will be bigger and deadlier than the first. Get ready.
Well, I agree with Collins – all by design. Now that central banking is global the dollar has served its purpose and what was once necessary has become a problem to be removed. Unlike Collins, I think for America at least, its going to be pure hell on earth. And looky here, right on time is the train known as The Fourth Turning.
No problem-o, as long as The Bank Of Moar Debt keeps its doors open.
“I think the greatest illusion we have is that denial protects us. It’s actually the biggest distortion and lie. In fact, staying asleep is what’s killing us.” – Eve Ensler
There was never a “surplus” during the Clinton years. It’s a myth. The national debt increased every year. And that was using non-GAAP. Using GAAP, the deficits were substantial. Now they are off the charts.
The INTERNET BOOM saved Clinton’s ass. I have heard Billy boy claim that he was responsible for the robust economy but nothing could be further from the truth. Now in 2014 there is no industry what so ever on the horizon that is going to put tens of thousands / millions of Americans to work in high paying positions / careers.
I attended BC’s speech in which he announced he was pursuing tax increases since there were “deficits as far as the eye can see”.