Tuesday, May 12, 2009

Is America about to go broke? (From MSN)

Good morning, thought I'd bring along some cheerful news this morning. We're not broke yet! Let's add two little problems to the dilemmas I've been covering, social security and medicare. Not one, but two 800 pound gorillas in the room.

Can't wait to see how the O deals with these two. Republicans have the cajunes to cut both, but the O meister will want to fully fund and increase benefits for the masses as he continues the drive to the socialist state that we are becoming.

I foresee a cut in SS benefits and an increase in medical coverage to the poor. That's right, take our hard earned money that we paid into the system and support the families with 25 children that want a free ride and (best of all) ENCOURAGE THIS ACTION FURTHER because it's OK to be a worthless leach on society cause we'll take care of your lazy asses. More wealth distribution folks. This is even better news because we're all gonna be poor as hell one day, so let's get this problem fixed now so we'll all have coverage when we get there. Glad we got that going for us. See, I can bring along tidbits of good news too!

Scott Burns did a decent little article on MSN on this. (VERY surprising to see anything critical or anti-establishment coming from a GE owned entity, Scott may not be working there next week). The point of the article IMO is, "When Social Security and Medicare costs exceed their revenues, the Treasury will have to borrow money to cover the shortfalls. When that happens, today's stunning deficits will look small. That's why our future contains inflation, not deflation." Click on the title of the blog for the link and enjoy.

Thus I own and have been buying TBT since the low 40's and may continue to add to the position, BUT (yes another BUT) when do they eventually outlaw shorting anything in this market. Yes, I believe there is a good probability that is coming as well. More on this rant later.

Now, let me clarify something in a sort of disclaimer. Some can not work or afford to pay their way. I get supporting them and making their lives worthwhile, but to those that abuse the system - screw 'em. (BRIEF RANT - you want to save $$ and deter crime and give people impetus to work and not take advantage of the system - make prisons prisons - that simple IMO). I actually care. I am the executive treasurer for my local United Way and serve on numerous other boards. That means I give a shit, but this path that Robin Hood (The O) and his merry men (spineless congress) are taking is gonna really screw us up.

Have a great day!

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