My concerns for the nation’s direction are well documented at this point, but I have some very serious concerns for the lack of preparation taking place. While I certainly would love to see the utter resurrection of the US Economy, the same folks who expected the economic collapse as far back as 5 years ago expect that NONE of the policies being implemented will work to correct the market.
When the economic downturn began, Representative Ron Paul called for the government to allow the liquidation of the companies that were in trouble. Yes, people would have lost jobs, but the correction would have been much quicker. Instead of perhaps 3-4 years of economic hardships, the government instead borrowed hundreds of BILLIONS of dollars from other nations, inflated the dollar beyond reason (because we no longer back our currency with precious metals or assets with intrinsic value they could do so unchecked), propped up businesses which had demonstrated no desire to correct the bad business practices that lead them beyond bankruptcy.
Now we are looking at possibly 15 YEARS of economic correction, and what will correct a contracting economy? The bottom. We have to hit the point at which the bubbles have all burst, at which people are saving their money and living within their means, at which point those who can afford to rent, rent, and those who can afford to buy, buy.
The only two debts which make any sense anymore are an automobile, and a house. The debt anyone owes for an average mortgage should NEVER exceed the original value of their mortgage barring local catastrophe or some other strange event. People didn’t NEED to refinance, they WANTED to refinance, so they did. Now we’re stuck in a downward spiral of economic contraction. The links below paint a picture which at the very least should convince everyone to PREPARE for the worst depression in history. It may not happen, but if you are prepared for it to happen, and it doesn’t, then you won’t have harmed your financial standing by saving and investing in the proper commodities.
Who is really to blame. (Liberals & Democrats may not want to read this)
A response to the Secretary of State’s claim that America is to blame for the arming of the Mexican drug cartels.
Why a group of people who want to regulate everything say everything needs to be regulated…
The bubble we have to burst without the help of Washington…