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<p>[QUOTE=&quot;Rono, post: 1046742, member: 6492&quot;]Howdy, Surfer,</p><p>&nbsp;</p><p>He makes a good point.&nbsp; In spite of how badly I hate to pay taxes, the macro impact of the deficit and how we&#039;re spending ourselves into national insolvency is probably worse. </p><p>&nbsp;</p><p>The issue is still the unfunded liabilities estimated to be somewhere between $70T and $105Trillion freakin dollars.</p><p>&nbsp;</p><p>These are social security, medicare,aid, the trust funds, debt service, etc.&nbsp;&nbsp; It&#039;s not politically feasible to reduce or eliminate these programs sufficiently to cover this tab, NOR are the able to raise taxes sufficiently.&nbsp; This leaves them with the option of monetization and that carries the risk of nasty inflation if not hyper.&nbsp;&nbsp; What they&#039;re trying to do is a combination of actions.&nbsp; They&#039;ll reduce benefits and raise taxes as much as they can and they&#039;ll monetize the rest and hope for the best.</p><p>&nbsp;</p><p>I read where they need to halve the value of the dollar over the next decade just to get within sniffing distance of solving the debt problem with the other measures.&nbsp; </p><p>&nbsp;</p><p>They also want to lower the value of the dollar to boost exports and stimulate the economy - but every other country in the world is attempting to do the same thing in this fiat currency race to the bottom contest.&nbsp; </p><p>&nbsp;</p><p>I&#039;m still following a quote I read a few years back from the elder Baron Rothschild saying that you should have 1/3 of your wealth in securities, 1/3 in real estate and 1/3 in &#039;rare art&#039;.&nbsp; When I first read this I did the math and was 90/8/2.&nbsp; I blew chunks all over my monitor.&nbsp; Now we&#039;re about 60/25/15 and I think I can get to ~50/30/20.&nbsp; Note substitute whatever for Rare Art.</p><p>&nbsp;</p><p>peace,</p><p>&nbsp;</p><p>rono[/QUOTE]</p><p><br /></p>

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