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Gold/Mining/Energy : Gold & Gold Stock Analysis -- Ignore unavailable to you. Want to Upgrade?

To: DebtBomb who wrote (23098)	12/9/2010 10:43:17 PM
From: GST	9 Recommendations Read Replies (3) \| Respond to of 29622

I spent the day in a meeting with Chinese officials 'sharing' the details of China's next five year plan. I can tell you this -- as China turns more towards its energy infrastructure needs and its internal market and ability to compete in key industries, we are going to be hard pressed to even show up for the game if our finances are not fixed -- and it is hard to see any scenario where our finances get fixed. I do not see the political maturity (or integrity) in Washington -- I do not see the political will on main street -- and I do not see the leadership in the private sector to guide us out of our economic nosedive. The future for the US, unfortunately, can be summed up in one word -- stagflation. This stagflation will takes place as we become less competitive, overwhelmed by deficits that cannot be financed, and inflation from the institutionalization of QE as a way of life. Life will not end in the US -- but it will become harder and harder to hold on to our standard of living, and to afford the cost of goods and services or to face the onslaught of global competition. Some of us will be ok -- although we will have to protect ourselves from the growing ranks of those who are getting hammered as they fall deeper into relative poverty. For example, in Oakland 40% of those who enter high school drop out -- 40%. And Oakland is much like many of the inner cities of the US. The future of the US depends on an educated work force -- and if a high percentage of our kids don't even finish high school then we are all going to have to learn to live in a country where violence and poverty are simply woven right into the social fabric. It didn't have to be this way, but at least for a few years we got to drive our SUVs.