My wife who manages her own investments in the stock market was giving me the news this morning at breakfast.
1) China has had 5% inflation per MONTH the last few months. Workers want more pay. Some haven't showed up for work since the Chinese new year.
2) Indias inflation is at 7% per month.
The above two are going to affect things we buy from them.
3) China has been importing more than exporting lately.
4) Opec is cutting oil production to keep prices up.
5) Finland is refusing to loan anymore money to Portugal or the southern European countries. Same with Germany. Northern Europe are the producers. Southern Europeans, Greece, Italy, Spain, Portugal, and add in Ireland are all spending more then they take in taxes. Northern Europeans are tired of supporting them.
6) Greece is about to default on their loans.
With all the above, we can't expect anyone to buy anymore of our T-bills to finance our Federal Debt. Using old figures like the early 1980's to calculate inflation, we are running about 10% with a 9% unemployment rate, which is actually about 18% underemployed. Have you guys priced food and gasoline lately? If we don't reign in the Federal spending we might have hyper inflation like some 3rd world country. Look for prices to rise considerably in the next few months. I told you guys we were going to have high inflation. Government must be reigned in. Contact your representatives and Senators and let them know to cut, cut, cut the Federal budget or else in a few years, we will have a bankrupt nation and NO GOVERNMENT CHECKS will be sent out period. No welfare, no food stamps, no social security, military can't get paid, we will be bankrupt.
I think we must do the following:
1) Cut all discressionary spending.
2) Reign in Welfare and Food stamps.
3) Raise the retirement age for those under 40 or 50.
4) Adapt Paul Ryans budget.
5) Have a flat income tax with minimum deductions.
6) Add a federal sales tax on all goods and services, and add tarriffs on goods that can be made here.
7) Open up federal lands for oil, coal, and mineral production.
Switch to natural gas on fleet vehicles like garbage trucks, utilities, UPS, mail carriers, and buses. (cuts 40% of imported oil)
9) cut farm subsities.
10) cut federal spending on education.
11) cut out spending on arts and NPR.
12) Close military bases in Europe.
13) Get out of Iraq.
14) Get out of Afganistan.
15) Get out of Libia.
16) Relocate military to southern border.
17) Round up and send illegals home.
18) No American citizenship to children born to illegals in US.
