Could the problem be the terrifyingly huge national debt?

[tradingjournals]

Quote from Covertibility:

The worst to expect from the US is inflation. A currency issuer only fears inflation, not default.

+1

 

[sle]

Quote from SomeYoungGuy:
I'm not borrowing any money right now, not spending much more than I need to, <...> socking cash away in case a good deal comes along.

If you are truly afraid of default or hyperinflation (which would be pretty much the same thing), you should be doing exactly the opposite - draw as much credit as you could, do not hoard cash and otherwise ensure that you have as much real assets as you can.

 

[tradingjournals]

Quote from sle:

If you are truly afraid of default or hyperinflation (which would be pretty much the same thing), you should be doing exactly the opposite - draw as much credit as you could, do not hoard cash and otherwise ensure that you have as much real assets as you can.

+1, few people understand that yet the gold market was saying it.

 

[nitro]

Quote from PocketChange:

I don't think anyone really has any control over the situation. All of the excessive monetary printing will catch up and overnight one day our $ will buy 20% of what it does today. All it takes is for IMF to set a new peg rate or the chindians to further manipulate the exchange.

There are so many angles in play... above the line deductions will buy you your tax rate more worth of goods. Further reducing your buying power is the excessive transactional tax gouging of your post tax $.. soda tax/ sin tax / sales tax.

Reality is even those that pay no income tax spend nearly 100% of their earnings for the basic necessities to survive (gas, food, rent) and are paying approx 10% in transactional taxes.

Those employed earning a modest middle class income $100K pay 20% or so in taxes and are left with 80K post tax to get clipped 10% as they spend it.

Those that can manipulate the system by deferring taxes (Offshore income) and use pre-tax dollars do much better...

Ultimately.. those that cheat and move their assets offshore can walk away and leave behind huge tax bills and debts... They get to live their lives out as cash rich kings somewhere outside of the US and still collect their social security benefits.

I have nothing more to add. Occupy Wall street would do well to study at a microscopic level this post.

 

[Grandluxe]

Quote from tradingjournals:

I agree with you. It is very strange that you can grasp what you wrote, but yet in market timing you seem to be rather poor.

Are you saying that intradaybill isnt very intelligent because he's a chinaman?

 

[tradingjournals]

Quote from Grandluxe:

Are you saying that intradaybill isnt very intelligent because he's a chinaman?

Intelligence has no race. I am sure there are a lot of Chinese smarter than me, you, and other folks around here. Great minds are from all nations, races, religions, etc. All humans are gifted with great creative brains.