May 24, 2011
How Much Government Spending Is Costing You Per Day
by Bill Bonner
Daily Reckoning
.
.
.
But just so we get to say ‘I told you so’ here is what we expect:
o Stocks will be weak…maybe a big sell-off in the summer months. Investors will begin to realize that the economy is not as healthy as they thought. And the effects of QE2 will wear off.
o The Great Correction, combined with the feds’ battle against it, will continue. Economic reports will be mixed and confusing as a result. But no clear, real recovery will begin.
o The Fed will announce new measures – QE3. These could come anytime, but will most likely follow a new crisis. For example, a default by Greece…or a sharp break in the stock market.
.
.
.
But never have we seen anything like this. Government debt per working person is now increasing at $115 per working day. And that doesn’t include the build-up in social welfare obligations.
Add housing losses to government debt, and the typical working person’s balance sheet is deteriorating at the rate of $205 every working day.
The poor lumpen! He rolls out of bed this morning. By Friday evening he’s $1,025 poorer! How long can that go on?
.
.
.
There's more. A lot more. Full article: http://lewrockwell.com/bonner/bonner473.html
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
| 