Monday, January 24, 2011

We are broke



I no longer argue with people about the wars, entitlement spending, tax cuts, government programs etc.. As Governor Christie says near the end of this video we are simply broke. Unless we do radical surgery on downsizing government we will have a bond and dollar crisis. When that happens all of these programs will just stop. In fact that is what I am predicting is going to happen. Here is a chart for the municipal bond ETF. Looks like investors are getting nervous these governments are not going to pay their debts.

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