the pundits look back & say we averted disaster in 2008. but look at the big picture.
the US debt has spiraled out of control. Wall street has returned to business as usual, gouging their customers & foreclosing on homeowners they sold junk mortgages to. Democrats in congress & the white house don't even try to balance the budget. they want to spend even more then they spend now.
Our economy has become dysfunctional, funneling most of the wealth into the hands of megacorporations. government is bogged down by money, lobbyists & can no longer pass reforms to fix the system.
the only reason this house of cards stands is because china buys our debt. That is not going to last forever. they will eventually realize our economy can no longer grow because they took all our jobs. then they will stop buying US debt.
This will cause a crisis in washington as the US government can no longer pay its bills. The governments financial collapse will precitipate the first bank run in 80 years as the government can no longer guarantee cash in the bank. When 300 million americans try to withdraw all their money at once, blood will spill on the streets.
Buy gold, oil & arms. Keep your cash out of the bank system. Gold will protect your equity. Oil will secure your retirement; it is running dry, but the world is not shifting to the next alternative. & arms will protect you from the mobs who cant find work & cant buy food because their bank disappeared.
think i'm wrong? keep watching the price of gold.
