Today's quote - "No matter how busy you may think you are, you must find time for reading, or surrender yourself to self-chosen ignorance." - Confucius
Oh, yes, I have been gardening and enjoying the spring time here in Middle Tennessee, so I have been a bit busy... my apologies... more importantly, where are WE?
Pissed off... and we want somebody to pay. Goldman Sachs, Wall Street, Washington, Republicans, Democrats, Liberals, Tea Party types... everybody I know hates somebody - and they hate them good.
Why is everybody so angry? This is unlike anything in history. The most powerful nation to ever grace the face of the earth, replete with nuclear weapons (and conventional weapons) enough to pave the place over several times, and a military expenditure to match... is as close to a powder keg type political explosion as any other convulsion in history (IMHO)... and the best our political system can do seems to be to wage silly and immoral wars over Oil and lock up more of our citizens in cages than any nation on earth, while addicting the populace to government programs that absolutely require the continuance of US$/military diplomacy in order to enforce US$ hegemony.
Sometimes I think I am the only normal person left.
Does anybody really think that fanning the flames of hate and resentment is going to come to a good end? The Left AND the Right in the U.S. are doomed, and they know it. In their death throws exactly what will they leave us? No movement or political organization ever relinquishes power once the agenda they organized for in the first place has been achieved - no, they stick around FOREVER... and in an effort to be relevant they inflame their constituents with whatever insult-de-jour is available. Groups that served a noble or honorable purpose fall into this phenomenon in addition to the not so savory groups, forever dividing and multiplying and morphing into still more special interest groups of pissed off: White People, Black People, Brown People, Yellow People, Liberal People, Conservative People, Christian People, Jewish People, Muslim People, Atheist People, Tea Party People, Coffee Party People, Peaknic People... in the past we at least had sex to hold everything together... but the Internet and the Sex Police have kerbolixed that soothing medic... so now we are just fat, pissed, frustrated, and full of hate.
What a world.
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The U.S. Federal Reserve Bank and the U.S. Treasury have prevented the U.S. financial system from completely imploding FOR NOW. They have not fixed anything, the very imbalances that put the system into 2008's death spiral are now back in spades. Their answer to our collective problems? More debt. In fact, under the best of circumstances the U.S. Treasury will issue $10 TRILLION! of new debt (on top of the debt we currently have and will need to keep rolling over) over the next 8 years or so, bringing the National debt to over 150% of GDP. When, not if but WHEN, interest rates increase the U.S. will be looking at a situation wherein the taxes collected cover only 3X the INTEREST costs on the debt - and then it gets really bad.
I told my clients and partners this would be an EXCELLENT time to: take the trip they have always wanted; quit work to write that book, learn to paint, or play the guitar et al; indulge yourself in any reasonable way. Holding onto paper or intangible wealth is going to be very, very difficult in the coming years. If Life is short, the financial system's lifetime will be even shorter. Not only can't you take it with you, but soon you won't be able to hold onto it while you are here. Now is the time to enjoy the fruits of your labors. If you feel guilty, email me and I will write you back a forgiveness email. Its ok, enjoy yourself. Speaking of which, I am going to enjoy spring and summer on the farm and then head to Costa Rica for a month with the family this winter.