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

To: elmatador who wrote (109503)	1/5/2015 12:42:13 AM
From: Elroy Jetson	Read Replies (2) \| Respond to of 219959

Ronald Reagan was able to spend the retirement savings of the Baby Boom Generation on income tax cuts and hefty government spending on the military and social programs. Although American economic growth slowed, it felt very lush and prosperous, as you can imagine it would feel when you're charging much of your fun to someone else''s credit card. Now that 8,000 Baby Boomers are retiring each day until 2029, only now are people discovering Ronald Reagan's theft, and the 1980s party is no longer remembered in such fond terms. Recovering from the second Great Depression, the United States has followed a distinctly different path from the early 1930s as well as the path taken by other nations who have focused on purging the rottenness of their system. Spain, lacking a strong central government, is the most instructive and horrifying example. Spain was left with the collapse of a real estate bubble comparable to that in Ireland and the United States, their central government was neither in a position to support their banking system nor economic stimulus or an economic support network. The Spanish Federal government was not committed to the beliefs of the U.S. Treasury Secretary Andrew Mellon during the Great Depression, who advised "liquidate labor, liquidate stocks, liquidate farmers, liquidate real estate... it will purge the rottenness out of the system. High costs of living and high living will come down. People will work harder, live a more moral life. Values will be adjusted, and enterprising people will pick up from less competent people." But by having no alternatives, this is the path Spain followed. With unemployment hovering around 25% entire extended families are supported by the one or two members of the family who either have some sort of job, or retired with a pension. Only modern equivalents of "victory gardens" even in the most urban areas and Spain's warm climate are preventing real catastrophe. If letting an economy collapse so it can come roaring back with free-market principles worked, Spain would have the most vibrant economy in Europe. Instead it's an economy filled with buskers and pitiful elderly people asking for alms. Never forget this contrast between America and Spain. In the future liars and the deluded will again claim letting an economy implode naturally is the best path to prosperity. Remember the truth, and protect yourself.