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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: GST who wrote (10719)	8/26/2008 12:29:38 PM
From: Secret_Agent_Man	Respond to of 71461

Gold, the darkside when hyperinflation hits Future Unfunded Liabilities The only Federal Reserve member who has a streak of Paul Volker in him, Dallas Fed Chairman Richard Fisher, bluntly described our predicament in a recent interview. “There is one issue I am outspoken about, and that is the unfunded liabilities of Medicare. And I have not heard any discussion of what is the largest liability ever incurred by any country in history, relative to their GDP. Just to give you the number, it is $85.6 trillion that is currently unfunded. ... That's a lot. Our total output as a country is roughly $14 trillion. This prescription drug benefit alone – which was created 30-some odd months ago by a Republican, Harvard MBA from my state of Texas [President Bush] – is a larger liability now than all of Social Security. ... And why do I worry about it? Because it is in every politician's blood – and this knows no party – if you can't solve a problem, get the central bank to print your way out of it. And we won't do that. I won't do that anyway seekingalpha.com The article is really dark but worth reading for anyone feeling really bullish on a long term outlook. A nation very upside-down that will soon be forced to make some serious choices. siliconinvestor.com