lance sjogren

Gold: The Next Reserve Currency Player

Eloquent portrayal of the pessimistic scenario, MexicoMike.

I am not convinced how bad a future we are headed for. But I must say that a doomsday economic future appears to be a strong likelihood.

One thing I have long believed- Americans have become complacent from having had a society of material abundance and lack of war (on our own territory) for many decades.

This has lead to a widespread view of "it can't happen here".

Another way to put it is that in the United States, the concept of "American exceptionalism" prevails. I guess the concept is based on some feeling that we have a special blessing from God, or that somehow our constitutional system of government (which has deteriorated greatly in recent years, but is still far better than that of virtually any other country) somehow makes us immune from the laws of nature to which all other human beings are subject.

Unfortunately, I see no reason why "it can't happen here".


Actually, even before the current financial crisis, you could see some of the initial signs of such a breakdown in dysfunctional places like California. The quasi-Marxist regime in Sacramento has for many years had the state's economy on the early stages of a death spiral- by jacking up taxes and spending at every opportunity, and welcoming the world's poor to flood into the state and be supported by the taxpayers. Utterly insane public policy, but bought into not only by the sheeple but by the dimwitted "journalists" who run a news media based on the grand concept of "don't worry be happy".

As the national economic downturn gets worse, one small positive side effect may be that the leftist buffoons who run places like the state of California may be thrown out of office by the populace. All that will do, however, is perhaps allow California to not deteriorate much faster than the rest of the nation.

We face a likely economic death spiral in the United States, and much of the rest of the world. Misgovernment in places like California have created parallel terminal economic illnesses. In other words, California would have destroyed itself even if the rest of the country were economically healthy. However, all evidence seems to indicate that all of us, at least in the United States, Britain, and a number of other countries, are headed for economic oblivion.