Comments on: $11 Trillion in debt http://www.effor.com/blog/index.php/2009/03/09/11-trillion-in-debt Rambling rants from the lunatic fringe Sun, 21 Feb 2010 22:50:36 -0500 http://wordpress.org/?v=2.8.6 hourly 1 By: Capitalist Blog Revolution (III) : We all hate Keynesians now « Save Capitalism http://www.effor.com/blog/index.php/2009/03/09/11-trillion-in-debt/comment-page-1#comment-799 Capitalist Blog Revolution (III) : We all hate Keynesians now « Save Capitalism Fri, 13 Mar 2009 22:50:18 +0000 http://www.effor.com/blog/?p=811#comment-799 [...] liberal democrats starving the third world Daily Capitalist : How long will it last (2.0) Effor : $11 trillion in debt The Last Capitalist : Daily’ish Ayn Rand quote (an ongoing series) Save Capitalism: [...] [...] liberal democrats starving the third world Daily Capitalist : How long will it last (2.0) Effor : $11 trillion in debt The Last Capitalist : Daily’ish Ayn Rand quote (an ongoing series) Save Capitalism: [...]

]]> By: Gary http://www.effor.com/blog/index.php/2009/03/09/11-trillion-in-debt/comment-page-1#comment-783 Gary Thu, 12 Mar 2009 03:32:15 +0000 http://www.effor.com/blog/?p=811#comment-783 When I looked at 11pm EDT tonight, we passed $11 trillion in national debt. And no one seems to care. No headlines, nothing on the news. This WILL come back to bite us, and there's no one to blame except the people who sat back quietly and pretended everything was ok - us. And I haven't even started on the Social Security and Medicare debt that's looming. The next 50 years will not be good for the US. You can take that to the bank. But I recommend buying gold instead. When the government starts meeting its' obligations with printed money instead of borrowed Chinese money, inflation is going to skyrocket, and so will gold. The price of the DOW and the price of gold will meet sometime in the next few years. I'm guessing that number will be somewhere around $4000. Don't say I didn't warn you. gk When I looked at 11pm EDT tonight, we passed $11 trillion in national debt. And no one seems to care. No headlines, nothing on the news. This WILL come back to bite us, and there’s no one to blame except the people who sat back quietly and pretended everything was ok – us.

And I haven’t even started on the Social Security and Medicare debt that’s looming. The next 50 years will not be good for the US. You can take that to the bank. But I recommend buying gold instead. When the government starts meeting its’ obligations with printed money instead of borrowed Chinese money, inflation is going to skyrocket, and so will gold.

The price of the DOW and the price of gold will meet sometime in the next few years. I’m guessing that number will be somewhere around $4000. Don’t say I didn’t warn you.

gk

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