Where have we heard this before? You are being quoted without the quote.
You are so right. Another move above $1444 and the parabolic rocket is launched.
"Unless entitlements are substantially reformed, the U.S. will likely default on its debt; not in conventional ways, but via inflation, currency devaluation and low to negative real interest rates."
New Investment Outlook Article Available
By Bill Gross
Medicare, Medicaid and Social Security now account for 44% of total federal spending and are steadily rising.
Previous Congresses (and Administrations) have relied on the assumption that we can grow our way out of this onerous debt burden.
Unless entitlements are substantially reformed, the U.S. will likely default on its debt; not in conventional ways, but via inflation, currency devaluation and low to negative real interest rates.
"Yes , we did produce a near perfect Republic, but will they keep it? Or will they in their enjoyment of plenty, lose the memory of their freedom? Material abundance without character is the surest way to destruction. Indeed, I tremble for my country when I reflect that God is just."
Real Estate Far Worse Than Advertised
Falling home prices represents a classic illustration to the old saying, adding insult to injury. Home prices despite on going currency devaluation continue to fall in most major US cities. In other words, the headlines ‘slant’, even the more realistic ones, tend understate the severity of the housing problem. This suggests another old expression, "far worse than advertised."
Headline: Home prices falling in most major US cities
Home prices are falling in most major U.S. cities, and the average prices in four of them are at their lowest point in 11 years. Analysts expect further prices declines in most cities in the coming months.
The Standard & Poor’s/Case-Shiller 20-city index released Tuesday shows price declines in 19 cities from December to January. Eleven of them are at their lowest level since the housing bust, in 2006 and 2007. The index fell for the sixth straight month.
Home values in Atlanta, Las Vegas, Detroit and Cleveland are now below January 2000 levels.