Re: Depression, inflation, economic collapse

Werner <whetzner@[EMAIL PROTECTED]
> wrote
> Rod Speed <rod.speed....@[EMAIL PROTECTED]
> wrote
>> billimmel...@[EMAIL PROTECTED]
 wrote:

>>> http://www.youtube.com/watch?v=ZWimUcnJu_g

>>> In America's economic pipeline, not a single positive event
forthcoming.

>>> You might consider getting out of the stock market at least until
after the election.

>> Or you might actually get a clue about what drives the market.

>> Fat chance.

> From where do you get your optimism?

From the fact that we have worked out how to avoid full
depressions and have worked out how to deal with those
when they occur. We havent had a full depression for 80 odd
years now. There were lots of those in the century before 1929.

We managed to survive 2 world wars and the cold war fine.

We managed to produce the most magnificent advance
in technology since the invention of the printing press
and the industrial revolution with the internet and the PC.

We also worked out how to avoid most infectious disease with vaccination
and you no longer have to watch your kids die when drought becomes severe.

> Public debt is above $9 Trillion!
> Here is the scoop on just 2 government programs.

> "The 2008 Social Security and Medicare Trustees Re****ts show
> the combined unfunded liability of these two programs has reached
> $101.7 trillion in today's dollars! That is more than seven times the
> size of the U.S. economy and 10 times the size of the outstanding
> national debt. The unfunded liability is the difference between the
> benefits that have been promised to retirees and what will be
> collected in dedicated taxes and Medicare premiums. Last year
> alone, the size of the debt rose by $11.5 trillion. If no other reform
> is enacted, this funding gap can only be closed in future years by
> substantial tax increases, large benefit cuts or both."
>
http://retirementreform.org/socialsecurity/brief-analysis-616-social-security-and-medicare-projections-2008

The same mindless line was trotted out about the Vietnam War
debt and the S&L fiasco too and we managed to survive them fine.

The shrub wont be around much longer and it looks like Iraq is
becoming less of a complete obscenity than it used to be too.

Not that that has anything to do with the original silly stuff about the
market and the election.

Yes, the market may well have further to fall yet, but that has nothing to
do with the election.

And that unfunded liability stuff is something that fools have been
mindlessly
hyperventilating about for a long time now. It aint what drives the market
and the US economy wont be imploding because of it, you watch.