HERE is one of hundreds of articles talking about how our economy might collapse- sooner, rather than later.
I am sure that by now all of us agree we are in a crisis situation in regards to the economy and the national deficit.
I, however, have lost faith in both political parties to do anything about it.
Both parties caused this. One party did not do more damage than the other- and I will not argue about that. BOTH sides are responsible.
The worst part, though, is that NEITHER side is doing anything about it.
They both promise to.
They both say they will.
But nothing gets done.
Even the beloved (HA!) Tea-Partiers have vowed to reduce the budget by only 30 billion. That's 1.67% of the deficit. That's the same amount the Fed prints every MONTH. Meaning: Even the tea partiers are completely unwilling to do anything that will actually reduce the deficit.
I have completely lost faith in both parties to make the hard choices and actually do something meaningful to reduce the deficit. Why? Because it is political suicide to be the one to push the austerity measures that must be done to get our budget anywhere within reason. Remember what happened in Greece? Spain? London? It's not pretty for the ones who actually do the hard things.
So neither party is doing it.
Honestly, I don't understand all the numbers and how it all works and I don't get everything that is happening. But, I know it's not good- and it's not going to get any better anytime soon, regardless of who is in power.
What do I think will happen?
I think China will call our debt and leave us begging for mercy as the dollar becomes worthless. I think there will be massive riots in America as food becomes the most precious commodity. I think we will have to create a new currency and start over- which will most certainly be painful for all of us.
Yes, I think it's that bad.
How bad do you think it is?