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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: stsimon who wrote (93773)	8/21/2012 11:01:21 AM
From: TobagoJack	Respond to of 217588

The problem w/ cutting entitlement is that it reduces the income of the folks counting on it, at the most inconvenient baby boomer time, and should the flow fail to continue, problems, and big problems commensurate with the size of entitlement and its cut The time for entitlement cut was earlier, not now; certainly not easily. Should entitlement be cut, the resultant 'deflation' would have to be offset by fiat money inflation; not a pretty picture. Frankly if I were the president I would declare default and pressed the monetary zero-state reset button and then get on with the next cycle when the usd still has all takers. Else the problems would simply get more convoluted over time and also grow in size, requiring an eventual default by stop payment or by printing. The math determines the eventual outcome, at the sort of numbers we are talking about, and not so much about will of the people in the 11th hour. The euro is strong, for all the problems of bankrupting Europe. Why? Re gold, it is actually best for deflation, because it is cash.

To: stsimon who wrote (93773)	8/21/2012 2:55:45 PM
From: elmatador	Respond to of 217588

You are very correct on the substantial cuts issue. Great Society social reforms will be rolled back. The system donated to the lower stratum when the cake was huge. Cake beomce smaller, lower stratum share gets very very small. Great Society social reforms were the elimination of poverty and racial injustice. New major spending programs that addressed education, medical care, urban problems, and transportation were launched during this period. The Great Society in scope and sweep resembled the New Deal domestic agenda of Franklin D. Roosevelt, but differed sharply in types of programs enacted. Some Great Society proposals were stalled initiatives from John F. Kennedy's New Frontier. Johnson's success depended on his skills of persuasion, coupled with the Democratic landslide in the 1964 election that brought in many new liberals to Congress, making the House of Representatives in 1965 the most liberal House since 1938. [1] Anti-war Democrats complained that spending on the Vietnam War choked off the Great Society. While some of the programs have been eliminated or had their funding reduced, many of them, including Medicare, Medicaid, the Older Americans Act and federal education funding, continue to the present. The Great Society's programs expanded under the administrations of Richard Nixon and Gerald Ford. [2] en.wikipedia.org