The other day, a business, news report on CNBC talked about the exciting road to economic recovery.
The absurdity of the optimistic dribble left me shaking my head in disbelief.
Walk out of your insulated little cocoon world and look at the reality of life.
Our economy is in terrible shape, and despite the optimistic run up on Wall Street, our status is deteriorating not improving.
Twist the facts how ever you want, the World is in the beginning stages of an extended deleverage process, unwinding from nearly 50 years of credit expansion.
We have lived beyond our means, existing in a world of hypocritical conspicuous consumption.
Keeping up with the Jonses .
Practicing one upsmanship.
Bigger and flashier is better.
Most expensive is best.
No!! No!! No!!
We are now going to be paying a very hard price, which has just begun.
Western economies in general are hemorrhaging jobs, money, and slowly we are loosing our freedom.
The deficits are staggering, and growing at an alarming rate, and governments are attempting to keep up by printing fiat paper as fast as their printing presses can run.
The United States is not alone, see Greece,Italy, Great Britain, Ireland,Spain,ET AL.
Our currencies are being diluted, and our grandchildren are being turned into chattels, to serve a current agenda.
Our future is being wagered upon a foundation of government spending, massive entitlements, and staggering deficits.
This foundation is sitting upon a swamp.