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The Party's Just About Over


By mitch - Posted on 08 September 2009

We have yet to see the severe impact all of this government spending will have on our economy.  Sure everyone, particularly the press, is pointing to all these green shoots that economists are quick to point to when looking for some sort of economic redemption.  But beware...the grass is not greener on the other side of that hill.  The author points out that currently spending is at 65+% of GDP.  When all is said and done and you look at the outyears with the problems of Social Security, a new healthcare benefit,  new prescription drug benefit, and Medicare looming, it will look more like 500% of GDP.  Not only is this unsustainable, it will wreck the dollar and with it the almost certain prospects of severe inflation.  I'm not one to play on conspiracy theories but I just wonder if this is all being done as an attempt to "wean" Americans off of capitalism and force us into the realm of national socialism. On the other side of all this, the American people may finally wake up to this madness and finally call a halt to it all.  We've seen bubbles in technology, the stock market, and real estate.  This is a bubble in government spending and eventaully it too will burst. Oh the pain and suffering that will ensue will not be pretty. 

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