U.S. Fiscal Meltdown in Spitting Distance: Laurence Kotlikoff

[ChunkyMonkey]

http://www.bloomberg.com/news/2011-0...kotlikoff.html

U.S. Fiscal Meltdown in Spitting Distance: Laurence Kotlikoff

The two parties are having a heated debate over the Republican plan to slice $61 billion off Uncle Sam’s projected $3.6 trillion budget. If the Republicans get their way, the deficit will fall from 9.5 percent of gross domestic product to 9.1 percent. If they don’t, they’ll probably shut the government for a couple of days. Then they’ll compromise on, say, a $40 billion budget cut, having proved they gave it their best shot.

Arguing over lowering our deficit by just 0.4 percent of GDP when we need to run massive surpluses to deal with the baby boomers’ impending retirement is, pick your metaphor -- rearranging the Titanic’s furniture, Nero’s fiddling, Custer’s Last Stand.

Go to the link to continue reading...

The question is when the obvious will be obvious to the Politicians. Yep, Change you can believe in!

[earplug]

Whats the best color for my next CC holster?
Is a 308 really enough for general big game hunting?
If I get a $300 hundred dollar scope can I still hit a bowling ball off hand at 112 yards with my AR-15 clone?
While the dollar tanks, should I continue to think about the situation or act?

[TS12000]

It will be obvious when their paychecks stop coming and everyone is wiping their ass with hundred dollar bills...or two hundred thousand dollar bills

[flan7211]

Only plus to inflation is the ability to more easily pay off debt. That was the whole "green back" fight in the 1870's and 80's. Where agrarians argued that a more devalued dollar could help eliminate the debts they owed banks. While the hard currency types argued that it would destabilize the entire system. So if it hit that hard you wouldn't have an ounce of debt, but the following day banks couldn't loan money and business would collapse. So yes let's act on this before it's too late.

[CO Retriever]

Only plus to inflation is the ability to more easily pay off debt. That was the whole "green back" fight in the 1870's and 80's. Where agrarians argued that a more devalued dollar could help eliminate the debts they owed banks. While the hard currency types argued that it would destabilize the entire system. So if it hit that hard you wouldn't have an ounce of debt, but the following day banks couldn't loan money and business would collapse. So yes let's act on this before it's too late.

This is true to a point with certain types of debt. The debt that is the most valuable when these situations arise is fixed interest debt such as a mortgage. However the truth of matter is that the lending restrictions have gotten to the point that it's hard for most to qualify for additional fixed interest debt.

The banks knew that this was coming and it's part of the reason that they tightened up lending restrictions. The people who are going to make out on bandits are people who have been able to buy property while the market has been down with fixed interest debt. They will get the benefit of inflation and the benefit of buying cheap property. It's going to be the biggest wealth transfer that has ever taken place in the history of the world. Just my .02

[sniper7]

It will be obvious when their paychecks stop coming and everyone is wiping their ass with hundred dollar bills...or two hundred thousand dollar bills

kid makes some damn good money slingin crack!

[Fried Chicken Blowout]

Whats the best color for my next CC holster?BLACK - Aways bet on black. Tan and other colors will come and go, but black will always be in style.
Is a 308 really enough for general big game hunting?What do you consider big game? Elk? What distance do you think you'll be shooting them at? There's a lot of dynamics involved and it's hard to say if .308 is enough. I would generally say yes, but some may disagree
If I get a $300 hundred dollar scope can I still hit a bowling ball off hand at 112 yards with my AR-15 clone?Yes, as long as you can shoot. I don't think the optic has much to do with it if you can do your part.
While the dollar tanks, should I continue to think about the situation or act?Everyone is will be thinking about the situation, you should join them and think about it.

[Mtn.man]

308 is plenty for elk and moose.
Hell 270 will bring them down.

[Fried Chicken Blowout]

I know people that believe .300 Win Mag is the minimum for Elk. I think they are a little weird and should most likely reconsider the ammo their are using if .308 was proven to not be "good enough"? Or don't take that shot at 500 yards that you can make...

[roberth]

Whats the best color for my next CC holster?
Is a 308 really enough for general big game hunting?
If I get a $300 hundred dollar scope can I still hit a bowling ball off hand at 112 yards with my AR-15 clone?
While the dollar tanks, should I continue to think about the situation or act?

Oh lookit...something shiny!