Welcome to Z Day...
Ask yourself....who will lend America money when it produces relatively very little in relation to the amounts it pays simply for welfare to its citizens?
When we produced a lot relatively to the amount we paid in welfare....all was good as America Inc. was a great nation with a booming economy and strong dollar.
As American citizens.....if few will accept our dollar.....our dollar will devalue to the point where $1,000,000 won't fill up your car with gas while wages will never be able to keep up as most companies will go bankrupt.
Z Day is the day when the Fed and our government will be forced to make a choice due to ever increasing interest rates......restructure or destroy the dollar......if they destroy the dollar....America is doomed and none of us will be able to afford anything.....if they restructure....we go through some pain due to excessive borrowing......and then set the foundation to fight another day.
Which choice will Bernanke make??? Interest rates have climed so high that few are refinancing and mortgage applications are crashing.....just wait until home sales come to a screeching halt...we are already at 1980s prices in parts of CA......and 1920s prices in Detoit.
Z Day is soon here....what will Benny do?????