Do Fools Really Think There Will Be A Stock Market In The Digital Age?
May 05, 2010
– Comments (7)
Let's think about it....today, most of the sales of our largest publicly traded companies, and a bunch of small ones too, is either to the government or to companies that sell to the government or government funded customers. Further, health care, approaching 20% of GDP is primarily funded by government directly or indirectly.
Right now Wall Street and Washington are borrowing over $3 trillion dollars per year simply to keep the lights on....otherwise they wouldn't need to borrow and if they didn't, our economy would collapse immediately.
The consequence would make The Great Depression seem like a mild recession. 40 million people would be forced to stand in food lines who are currently receiving food stamps with borrowed money, 16 million people spending tens of billions each year with borrowed money would not receive unemployent checks, tens of millions would be unable to obtain health care and our heatlh care system would go bankrupt....we could go on and on.....
Current income tax receipts are about $1 trillion per year. So if we quadripled everyone's income taxes, we still wouldn't meet the borrowing needs of Wall Street and Washington's requirements to function.
At this point, the industrial system as we currently operate is now insolvent......we are only functioning by borrowing trillions of dollars each year.......as the private sector has been basically cut off from funding. the primary ones able to borrow right now is Washinton and Wall Street.....until the funds get cut off as we head into the Digital Age.
What are the most likely ways for the funds to get cut off:
1. Major Government Financial Collapse cascading around the world
2. Major Disaster, man made or natural, disrupting the way of life as we know it
3. Major military conflict escalating to the point where trade is essentially halted.
If Fools think there is any difference between America and Greece....you are truly clueless. If anything, the Greeks are better off than us..... we Americans carry a boatload of debt, the Greeks generally own their homes free and clear and carry relatively little consumer debt.
Welcome to the Digital Age....it has finally arrived.
Oil from Gulf spill may even 'reach Miami'...
Gulf Coast watches, waits for path...
Leak could hit 40K barrels a day...
Cleanup chemicals worry environment watchdogs...
Oil will persist in sensitive habitat 'FOR YEARS'...
Seriously Fools....did you really think we could continue to maintain this lifestyle by producing little and borrowing much....don't you think it's time to grow up and start being responsible?
And now that your retirement/investment account is built upon a foundation of toxic debt and even more worthless equity.........it is time to ponder the direction of our nation and the world as we enter the Digital Age.
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