Friday, July 10, 2009

Follow the Money


There's probably not much point in hiding what money you have left under your mattress. The almighty dollar ain't gonna be so almighty in the future. The storm clouds are already forming on the horizon (in the direction of India and China).

Check out this story on Bloomberg to learn all the gory details.

It makes you think about a lot of things.....besides going broke and never being able to retire. For example; when was the last time you heard about a "boom town" sprouting up in the USA? If you look at a US map and go back in time (not that far back) you'll probably be able to identify a lot of boom towns that are now bust.

Is it because we no longer make stuff in the USA or are too frightened to "exploit" our nation's natural resources such as ANWAR? It seems all the economic booming these days takes place outside of the US...out of the reach of our repressive government.

True, the USA did have a lock on financial services but now the world has learned that the so called experts were nothing more than rogues, scalliwags and scamps dressed up in nice suits. I can't blame the Chinese and Indians for not trusting us. I know I wouldn't trust us. Would any of you accept a California IOU? I thought not.

1 comment:

  1. Once again, Pops, you have hit the nail on the head. Pretty soon that's all the U.S. will be able to bargain with: IOUs.

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