I've had doom monger on FR bet me that the SP 500 would have crashed by year end - won easily - and that the CPI would be up by a third in 3 years - no chance I lose that one either. If you want a bet on the future path of US GDP, I'll take it. And you too can join the parade of doom mongering losers who owe me money.
Jason - You are always optimistic on these threads and I appreciate the sentiment. However, we have an unbelievable entitlement problem and few people are talking about it. It’s the real reason we have so much government debt and all of this other stuff we debate does not come close to our future guaranteed spending of money we don’t have.
I hope you are right but I truly believe we are in uncharted waters in terms of debt and it has to impact our currency eventually. Those who blame Obama miss the big picture. Obama is just the latest installment of a progressive politician who fails to address entitlements. The fact that he is borrowing much more than his predecessor simply accelerates the day of reckoning.
I find it hard to be optimistic about our future unless we abolish entitlements. It’s the right thing to do for our children and future generations. It appears to be the only thing to secure our future and prevent runaway inflation.
Where am I wrong (and I hope I am)?
you must have a job, right?...a nice govt pension?...don’t know what it feels like to have hours cut....