I don't know how to say this, but I think my Country is going to crash. I have tried to read Billmon's examination of this situation but I must confess, I don't understand my own finances let alone international finances. I guess I just don't see how we can continue to borrow money at the rate we are borrowing and survive. Especially since we owe the money to such great "friends" as China and Japan. I have not doubt that at the bottom of their hearts, both the Chinese and Japanese, for different reasons, would like to do us in. How stupid can we get owing our souls to these two nations?
Personally I am going to try and cut back to the bare minimum. When you really think about it, all one really needs is a good chair and some good books. Maybe an occasional peanut butter and jelly sandwich.
I hate being such a pessimist (no, I don't, its in my genes). And, I hope I am proven wrong.