Am I crazy, buying into doomsday, or just regurgitating professions of Austrian Economics which I have never studied? This is a response I gave on a bullion investing forum. Nobody responded to me which makes me think that they assume I am a nutcase.
Here is my thinking Chris. Call it simple heuristics because I simply cannot explain any reasoning in a rational fashion. First of all I would like to say that I do not believe in Keynesian economics. Had WWII never occurred I believe the New Deal to be a colossal failure. The New Deal was given far too much credit towards liberal economics. Regardless if Wartime was a form of centralization, conservationism was actually which helped propel the war effort. People scrapped everything from rubber to metal, and there were even butter rations to support the war effort.
Fast forward to the present and we find ourselves in a predicament. Facts: We have a deficit that is increasing at an increasing rate. We have a population that is increasing. We as in Americans are consuming more than we are producing at an alarming right. The Nationalism that was present in the 40’s-50’s is no longer present (In a global economy the stakeholder only cares about himself/herself.. This equates to the overall goals of the corporation). Once again a firm’s goal is profit maximization for the stakeholder (there is no nationalism or national effort). One top of the stated above you have manipulation of monetary policy on a monumental scale. Quantitative easing has become the 911 to get the economy through one quarter, not a decade. Moving on you have 4 trillion dollars of war debt. Non of this compares in my opinion to the following.
IMHO the biggest threat to the economy (besides our over consumption) is rising health care costs and the aging baby boomer. I do not believe that we have seen 1/100th of the cost of the aging baby boomer. The baby boomers are just now reaching the age where they are in dire need of medical insurance and many cannot afford it post recession. Our infrastructure is not setup to sustain cheap medical costs, and prices are going up with oncoming inflation. This in itself is a serious undertaking, but the real disaster is the fact that we have turned to a centralized form of providing healthcare. Medicare/Medicaid is essential for the survival of many, but we simply cannot afford as a nation to sustain long term healthcare provisions. With this being said as the demand for healthcare increases the policies will not change. “take the benefits, just not mine.” As a recipient of free VA health Insurance I can the first one to say I wouldn’t want my benefits to be taken away, but from an economic standpoint it is not sustainable.
These are some of my feelings on the issue, I know they can be viewed as extreme. I surmise that the economic collapse will happen. Who knows maybe in 25 years, but in my opinion the sooner, the better.
Here is my thinking Chris. Call it simple heuristics because I simply cannot explain any reasoning in a rational fashion. First of all I would like to say that I do not believe in Keynesian economics. Had WWII never occurred I believe the New Deal to be a colossal failure. The New Deal was given far too much credit towards liberal economics. Regardless if Wartime was a form of centralization, conservationism was actually which helped propel the war effort. People scrapped everything from rubber to metal, and there were even butter rations to support the war effort.
Fast forward to the present and we find ourselves in a predicament. Facts: We have a deficit that is increasing at an increasing rate. We have a population that is increasing. We as in Americans are consuming more than we are producing at an alarming right. The Nationalism that was present in the 40’s-50’s is no longer present (In a global economy the stakeholder only cares about himself/herself.. This equates to the overall goals of the corporation). Once again a firm’s goal is profit maximization for the stakeholder (there is no nationalism or national effort). One top of the stated above you have manipulation of monetary policy on a monumental scale. Quantitative easing has become the 911 to get the economy through one quarter, not a decade. Moving on you have 4 trillion dollars of war debt. Non of this compares in my opinion to the following.
IMHO the biggest threat to the economy (besides our over consumption) is rising health care costs and the aging baby boomer. I do not believe that we have seen 1/100th of the cost of the aging baby boomer. The baby boomers are just now reaching the age where they are in dire need of medical insurance and many cannot afford it post recession. Our infrastructure is not setup to sustain cheap medical costs, and prices are going up with oncoming inflation. This in itself is a serious undertaking, but the real disaster is the fact that we have turned to a centralized form of providing healthcare. Medicare/Medicaid is essential for the survival of many, but we simply cannot afford as a nation to sustain long term healthcare provisions. With this being said as the demand for healthcare increases the policies will not change. “take the benefits, just not mine.” As a recipient of free VA health Insurance I can the first one to say I wouldn’t want my benefits to be taken away, but from an economic standpoint it is not sustainable.
These are some of my feelings on the issue, I know they can be viewed as extreme. I surmise that the economic collapse will happen. Who knows maybe in 25 years, but in my opinion the sooner, the better.