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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 416.74

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Dec 26 4:00 PM EST

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To: elmatador who wrote (67221)	10/15/2010 10:25:52 PM
From: Maurice Winn	1 Recommendation Read Replies (2) of 218791

<The Obama administration is set to report Friday that the federal budget deficit exceeded $1 trillion for the second straight year, > Some simple arithmetic. $1 trillion is $1 000,000,000,000 There are 100 million workers in the USA [excluding government spivs] That's $10,000 per worker each year. With GDP per capita of only $50,000 [near enough for government work], that increase in debt each year is a significant issue. Not only does that growth in debt have to stop, the loans also have to be repaid or defaulted. Deadbeats usually go with default rather than repayment. The scale of problem dwarfs Ireland, Iceland and Greece, which at least have externalities to lean on. The USA is so big that there isn't a great deal of externality and leaning on it squashes it. It looks as though USA government pensions aren't going to be paid and plenty of them are going to be laid off. Mqurice

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