Hmmm... I'm unfamiiar with those debt-to-GDP ratios. My understanding is the U.S. is near the top of the list if not the worst. It certainly is the worst in raw dollars. I think most people forget that the recent FannieMae FreddieMac bailout is "off the books" as is the money owed to Social Security and Medicare. That's four sets of accounting books.
I'm not suggesting the U.S. is dragging everyone down because of its national debt. I am making a gloomy prediction that it
will happen in the future, however. It's been estimated that in 15 years, 100% of the U.S. budget will be taken up by payments to the national debt, Social Security, Federal Retirement Programs, Medicare and Medicaid. The most recent budget passed is a good indicator that the debt-spending is continuing and worsening.
You add that to the mix of global economic instability (every nation is having a crisis of some type it seems), the massive inflationary efforts of the Feds, the bailouts, and eventually a 'safe haven' will emerge that will NOT be T-Bills. You drop a Arch Duke Ferdinand incident into the mix of all of this and you have the makings of a giant Charlie-Foxtrot. I hope and pray I am wrong but I think your salt-n-ammo suggestions might be good ones. At the very least start stocking up on canned goods when you see a good deal.
But keep an eye on this thread. My biggest wish for 2009 is for everyone to make fun of me in December and tell me what a paranoid jerk I am when everything doesn't collapse.
_________________
author of Syncing Forward and other stories...It's a dog-eat-dog world, and I've got my Milkbone underwear on.
