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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG (MODERATED)
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To: Tommaso who wrote (25)9/28/2013 12:05:59 PM
From: SwampDogg  Read Replies (1) of 51
 
<<Conditions now are so much worse than in 1975, that even if Paul Volcker (or rather, someone of similar resolve and intelligence) were put back in control, the situation is past remedy>>

Yep, lets say even a 10% funds rate to ward of eventual inflation
That would result in the entire tax revenue base of the US being used to pay the interest on the current debt (not including unfunded entitlements).
Add to that the fact that the US debt maturities are very short and they have not taken advantage of the lower rates by extending the maturities.
Quite obvious where this is going.

Even if they did try some reform of future entitlements it would result in voters kicking them out and/or social unrest.
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