David Walker, Controller General of the United States, has been barnstorming the country, appearing on every TV show that will have him, and telling people, in no uncertain terms, exactly what is happening.
This man is America’s CFO and he places the blame right where it belongs: “The U.S. Government is on a burning platform of unsustainable policies and practices,” he says.
The U.S. either takes drastic action now or we face “dramatic tax rises, slashed government services and the long-scale dumping by foreign governments of holdings of U.S. debt.”
Walker notes the “striking similarities” between America today and Rome as it collapsed, including “declining moral values and political civility at home, an over-confident and over-extended military in foreign lands and fiscal irresponsibility by the central government.”
We’re “on a path toward an explosion of debt, with the looming retirement of the baby boomers, spiraling healthcare costs, plummeting savings rates and increasing reliance on foreign lenders, [and] we face unprecedented fiscal risk.”
When a man in this position, with nothing to personally gain by saying so, has such dramatic words for us, shouldn’t we listen?
Wouldn’t it be nice to have an out when those drastic measures happen, just in case? I would like knowing that I have another place to head to where the weather is nice and the politics and people are calm and relaxed.
Such a place can be found by reading Casey’s Without Borders.
And if you don’t have the investment nest egg to accomplish such a goal, then now is the time to be following the advice of the International Speculator or perhaps the more conservative Big Gold.
I subscribe to both of these publications and I will forever be glad I do.
{ 1 trackback }