OK, let me get this straight…
…Our national deficit isn’t one or two trillion dollars, or even 10 trillion dollars, but 53 trillion dollars.
…Our “Illustrious Leaders” or “Leaders to Be” consist of a pathetic Cabinet/Congress sprinkled with inexperience, and jamokes who can’t even do a decent job of cheating on their taxes. Let’s see, there’s…
- A rookie POTUS
- Charley “No-Rental-Income” Rangel
- Tom “Limo” Daschle (oops! He’s GONE!)
- Terrorist-pardoning Attorney General Eric Holder
- And who can forget Tim “I’m-IRS-Number-One-and-I-Can’t Even-Do-My-Own-Taxes-With-Turbo-Tax-for-God’s Sake” Geithner
- A Congress of the likes of Reid and Pelosi
…China is beginning to balk at the idea of loaning us any more money (by buying U.S. Treasury bonds and securities).
…And then there’s the matter of our border and a melting Mexico…
…Iran
Oh heck, let’s just toss all the politics aside…
The next 24 months will see our real debt reach at least $59 trillion. By 2012, that number will be 62 trillion, and nobody will lend us any money. In fact, what we’ll have to do is literally print money at “Goofy Speed”…
Things to look for:
- The Dow dips below 8,000… That’s a magic number. The next “cellar” is 6,000.
- The ratio of national debt to GDP. Right now we’re at roughly 4:1… If things don’t change radically, by 2012 we’ll be at 5:1. Iceland (a somewhat similar society) fell apart at 6:1.
- Inflation in 2011-2012
Oh, make no mistake, we’ll come out of this recession (as if we wouldn’t have anyway without all the pork)…
But these are unprecedented times, and we’ve got unprecedented weasels driving us straight toward unprecedented disaster at an unprecedented rate of speed. Better hang on, it’s going to be a bumpy ride.
Alan Speakman
