Anyone else not worried about the national debt? The stock market? Foreign trade deficit? Derivatives? The housing market? The Federal Reserve? All that financial stuff?
Why worry about something you have no control over?
It occurred to me that things are so out of whack that someone, somewhere will be left holding the bag. Most of the people holding all that debt will never get paid. At some point, it becomes impossible. Oh sure, everyone can get "paid" if the money goes Zimbabwe and inflates at crazy rates. They might get the number of dollars they are owed, but they certainly won't get anything of value.
Things could deflate like crazy and in the end, no one has any money to buy anything, so again, it doesn't much matter.
I'm not worried about it, but that doesn't mean I'm wishing for it to happen. A lot of people will suffer when their savings are wiped out and their paper worth disappears. Then again, that's happened to a lot of people already.
Eventually, a sound currency will come about once more. If we want to live at anything above the tribal level, it has to. The advocates of gold and other precious metals as a currency basis might get disappointed. You can't eat gold, it doesn't keep you warm at night, and it's worth something because everyone agrees it's worth something. What if we all agree on something else?
At any rate, there's not a lot I can do about the financial mess, except figure out how to live when it all goes away.
At the Hop!
1 hour ago