[chuckles]

It's not so much about the spending as much as it is confidence. Keep your eyes on Europe to see our future. As the end gets nearer, you will see the inevitability of default and the money men can't fiddle with it to fix it anymore. Greece is almost a sure bet now that nothing will stop their destruction. When that happens, the Euro Zone will cut them out like you pinch a pimple. Then you will see Italy, Portugal, Spain soon follow. Right now, everyone is still dedicated to keeping the spinning plates going on their sticks, so no one will admit just how bad things are. Reality always comes to the front and must be dealt with in the end.

America still believes the myth that we are "special" and can accomplish anything. I have felt that way all my life, but now about half the population is now certifiably mentally ill. Proof of that is what lives in the White House. If I knew better than to vote for him, how did he get elected?

If you elect an enemy of the State as president, why would you act surprised when he destroys the country? Mental illness.

[blam]

"If you elect an enemy of the State as president, why would you act surprised when he destroys the country? Mental illness. "

An excellent tag line. I like it.

[BenKenobi]

Where else is there?

That’s the question I asked. There is simply no where else to go. You know it, I know it. America is all that there is.

I did some figuring and I believe that worldwide, we can absorb about another 20 trillion in debt. That’s it. After that there are no more musical chairs and the game stops.

20 trillion between the US, and all of the EU. If the US runs a 10 percent deficit, and the EU runs a 10 percent deficit, that will generate debt every year at about 3 trillion a year. That would give the world about 7 years before ‘peak debt’ is all spent. 7 years.

Even with growth in the worldwide economy, the debt spending simply cannot go on. But things are not yet over.