Dear readers it seems I have to suggest some literature for you.
Check out the following books: “Bailout nation”, “Credit Card Nation” and “Human Action”.
In 1998 there was a nation-wide negative saving rate at work. And you know that was also the time of the Internet bubble. Now in this extra 13 years nothing has changed. The debt has again more than doubled and it’s still raising. You can not have wealth without saving. You can not get rich on Credit. So fact is with debts everywhere the end can not be avoided. Kredit expansion is according to von MIses, incurable either one stop is or the currency will break. And if a currency breaks, poverty is the new “middle” class… Now with forgetting to save things the middle class is starting to go down. I propose you check the diverse countries in the US and you will see where people save there will be much less suffering.
The US has overstretched their limits and in fact it’s the biggest burner of money with it’s military machine. Military machine is just good for one thing destruction. And So the military will take it’s part in distruction of the US. And Obama has nothing done to prevent this. I remind you of my critical entries here about Obama and in fact it’s getting even worse. See e.g. http://mises.org/Community/blogs/fdominicus/archive/2011/11/20/now-keep-your-breath.aspx. Really the US is gone, it’s just a death corpse walking. But sooner or later it will crush and this will be the start of another civil war. Now around 150 years after the last , we come back to it. It’s devastating. I propose to start thinking about leaving the US. You may escape the war. But maybe not. The debt race still is open all over the world. …..