It’s worse than that. We are sitting on a ticking time-bomb, and the threat of total economic collapse is nowhere near zero. Some smart guys put it at 50% last year, maybe a little less this year, but it’s about like predicting the next earthquake...all you can do is look for signs and precursors but you won’t know for sure until it hits.
Obama is doing everything wrong. Healthcare is tossing a lit match (or in his case, a cigarette butt) in the general direction of a puddle of gas, hoping it won’t blow...right away. But keep doing it, and the odds become pretty predictable.
The US has been issuing roughly $147 billion a month for the past 17 months, in a period in which total US Federal debt has increased from $10 trillion to $12.6 trillion.
However, my prediction is that the EuroZone crumbles first, sending hunderds of billions fleeing into US treasuries and commodities with real value (oil, food, gold). That is the last stop on the way to financial armegeddon. Once the US hyperinflates or declares a default on its own sovereign debt......gig is up. Hope you have food.
Good analogy.
ObamaCare is the Smoot Hawley Act of our time. Massive debt at the bottom of a severe recession. These guys are NOTHING if not stupid...