[Flying-Dutchman]

Originally Posted by Z71bill

We currently collect about $2.75 trillion - and spend about $3.75 trillion.

Consider cutting $85 billion (sequester) is seen as an absolute disaster - TEOTWAWKI by many - imagine a $1 trillion cut.


Post office will shut down - many hospitals would close (medicare payments would stop) - welfare checks - not today - anyone with a government contract would stop work - many school systems depend on the federal money to make teacher payroll - airports would shut down -

Why can private enterprise cut back and operate with reduced revenue yet the Government always threatens a complete shut down?

The Government needs to apply triage to the budget.

There is as pecking order as to the importance of programs.

On another forum, someone was bragging about making $120k as a park ranger with high seniority rangers making $200K+.

Many Government jobs do not add value to the economy and need to be eliminated.

[Atlas]

Originally Posted by railfancwb

Japan isn't fighting multiple (how many? I lost count) wars and maintaining hundreds of bases around the world and almost a dozen carrier fleets and X boomers...

And there we have it.

[Flying-Dutchman]

Originally Posted by Restless28

This has been a great thread. Even though I sometimes disagree with DevilDog, I do not here. It's refreshing to see some semblance of optimism here, especially since it is based on facts.

As far as the inflation thing, that is my fear. It is the greatest threat to individual wealth. I assume its almost inevitable that its coming, but I agree with DevilDog, it won't be like Zimbabwe or the Weinmar Republic.

On a personal level, there is more opportunity than ever. It is an exciting time to be alive.

But the numbers do not lie and as Atlas put it, the “magic” of compound interest is upon us.

It will end better than Zimbabwe but worse that the Weimar Republic; well maybe not as the Weimar Republic officially ended in 1945 with millions dead and the cities a pile of rubble.

[Flying-Dutchman]

Originally Posted by Z71bill

We currently collect about $2.75 trillion - and spend about $3.75 trillion.

This is an outrageous figure.

Somehow the FEDGOV cannot get by on $2.7 Trillion whereas the not exactly small US FEDGOV budget in 2000 was $1.8Trillion total.

So no one in Washington has the intestinal fortitude to divvy up a mere $2.7 Trillion?

So we would rather become Greece? A lot of thieving must be going on in Washington.

[certifiedfunds]

Originally Posted by Flying-Dutchman

Why can private enterprise cut back and operate with reduced revenue yet the Government always threatens a complete shut down?

The Government needs to apply triage to the budget.

There is as pecking order as to the importance of programs.

On another forum, someone was bragging about making $120k as a park ranger with high seniority rangers making $200K+.

Many Government jobs do not add value to the economy and need to be eliminated.

I think it is about the short term velocity of money.

The gov is very good at putting money into circulation. If the gov suddenly keeps taxing but stops spending, money slows dramatically.


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[series1811]

Originally Posted by Flying-Dutchman

It will end better than Zimbabwe but worse that the Weimar Republic; well maybe not as the Weimar Republic officially ended in 1945 with millions dead and the cities a pile of rubble.

It took WW2 to get us out of the last global depression. I wonder what it will take this time.

[TX OMFS]

Originally Posted by Flying-Dutchman

This could also be said of people, who prepare their entire life for retirement; who view life as a destination not a journey.

You can prepare for tough times without being a miserly Scrooge.

Do not keep your entire wealth in dollar denominated assets.

Resist being brainwashed by advertisers influencing you to buy this car, clothes or house to keep up with the Joneses.

Get off the gerbil wheel of debt.

Resist what someone else’s definition of what fun is or what retirement is.

Well said.

Additionally, Series1811, I know reality is that status quo is likely to remain generally the same. Despite that, I too began buying a little extra food on each trip to the store. Dear Lord, I am now a closet, mild, hopefully not looney, prepper.

ETA: Haven't even told my wife about that little stash... :embarrassed:

[certifiedfunds]

Originally Posted by TX OMFS

Well said.

Additionally, Series1811, I know reality is that status quo is likely to remain generally the same. Despite that, I too began buying a little extra food on each trip to the store. Dear Lord, I am now a closet, mild, hopefully not looney, prepper.

ETA: Haven't even told my wife about that little stash... :embarrassed:

Relax. Even in bad times people need wisdom teeth extracted.