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-------------------- So the Dow Jones Industrial Average dropped another 100 points today... Who cares, right? You should care. In my opinion, the European Union is living on eggshells right now. Certain members (Portugal, Ireland, Italy, Greece, Spain, the "PIIGS") have Debt issues that might not be repaired... Years upon years of spending FAR MORE than what you're taking in is going to sink many of those European countries. So what if Europe sinks? How will it hurt you, the American? Well, consider that your favorite "Too Big To Fail" banks, which papered over their own explosive debt problems, are heavily invested in the European debt. That's not to mention being heavily invested into European markets in general, just as European investors/banks carry U.S. assets as well. All it will take is one country or one big bank in Europe to collapse and markets will tumble. Then, you look at Asia right now... The passing of Kim Jong Il adds massive uncertainty to North Korea and if peace can be kept in that region or not. Furthermore, I'm quite convinced that China is having their own asset bubble that may pop any day now. As the United States found out with their own housing crisis, you can only make money cheap for so long before it hedges too much risk into the system. And then you have the United States itself... Right now, there's a "dick measuring contest" over something as stupid as the 2% reduction in the employee side of the Payroll Tax. First, it's the most unnecessary tax cut in the first place, as it's undercutting individual responsibility to contribute to Social Security... Worse, it's a complete admission by the Federal Government that the Payroll tax doesn't exactly fund just Social Security. The dirty secret in Washington is that ALL budget items are consolidated and expensed out of one big revenue pot. The budget passage for fiscal 2012 is a JOKE. Nobody is fiscally responsible, as you've suddenly heard nothing from the "Super Congress", have you? Democrats are unwilling to cut "sacred cow" social programs and Republicans aren't delivering on their 2010 campaign promises of fiscal responsibility. It is SAD and I wouldn't doubt that Bond agencies are preparing for another round of Debt downgrades. You can only flood the system with money for so long... Americans are hurting yet nobody cares. Zero accountability for those who financially harmed the United States through 2008 and it's only a matter of time before a HARDER boom hits our markets. My advice is to SAVE YOUR MONEY and don't extend yourself too much into revolving credit (i.e. don't dig yourself too much into credit card debt). CONTACT MR. TITO - Email: [email protected] - Twitter: @titowrestling - Join LoPForums.com: Feedback Thread © Mr. Tito 1998 - 2011
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