Archive for the ‘debt default’ Category

These Rose Colored Glasses…

February 2, 2010

“The White House budget proposal released Monday assumes the U.S. economy is heading for a six-year run of above-average economic growth with no sign of a worrisome spike in inflation or interest rates.

I don’t know why I  keep on believin’ you need me,
When you prove so many times that it ain’t true,
And I don’t find one good reason for staying,
Maybe by leaving would be the best for you,

But these rose colored glasses, that I’m looking through,
Show only the beauty, cause they hide all the truth,

And they let me hold on to the good times, the good lines,
The ones I used to hear when I held you,
And they keep me from feeling so cheated, defeated,
When reflections in your eyes show me a fool

And, what is it they are smoking? Inflation will rise, interests rates higher, gold prices to greater heights, dollar continues its losses, and meanwhile Freeport McMoRan (FCX) was up over 200% in 2009.

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Marc Faber and the Downward Spiral

January 14, 2010

The US is headed for a major debt crisis and Marc Faber has the charts to prove it.

The main problem comes down to two things: 1) ballooning debts and 2) future interest costs. ..