That’s where our government financial wizards seem to be getting ideas.
In Zimbabwe, the government took the vast farmland away from highly productive people and gave it to militants and generals who knew nothing about proper management. In the US, the government is taking the next generations’ entire treasury away from the productive savers and investors, to give it to fiscally irresponsible borrowers and bankers who know nothing about money management. I don’t see a difference and the outcome will be the same.
Apparently, in the dead of night, they added student loans and credit card debt to the bailout. All this represents is the consolidation of all living beyond our means into one pile, which will very quickly cause only a single bankruptcy; this nation’s!
I’ll wait for it to pass, then at the euphoric market spike from mass stupidity, I’ll yank every penny I can out of any American or dollar-based investment.
The Great American Emigration will probably start as a trickle in the next 5 years. and turn into a flood in the next 30. Your children better start boning up on other customs; either for their new owners or the country’s new owners.
UPDATE: In case you want to see what the future American grocery shopper will look like:
Perhaps they put out a bailout plan, then expected critics to say “no we need X Y and Z added to this”, then we end up with the mega-bailout plan that was bigger than the proposed one.
Stay away from large cap. That is all I can say.
[...] I wrote this 3 years ago, predicting our kids will start considering emigrating in 5 years- even BEFORE Obama’s election. And I am beginning to hear such talk from some youngsters. The picture is of a grocery shopper in Zimbabwe- is where BOTH parties are taking us. I also wrote another commentary about the same time on so-called GOP ‘Leadership’; both the assessment and the possible source of better people is applicable. [...]