It isn't just the trade deficit that's clobbering the dollar and the U.S. economy, it's also the out of control government spending. A review of new federal spending passed in 2003 shows that Republicans and Democrats alike are exercising virtually no fiscal restraint whatsoever. All across America, it's handout time. Senator McCain said it correctly: "They're spending money like a drunken sailor."
Buffett is just one of many observers with a global perspective. Soros is another. Both agree that the U.S. is presently trodding down the path of economic ruin. You simply can't keep spending money you don't have
and export $500 billion in trade deficits each year.
Oblivious to economic reality, the voting public continue to demand their handouts: prescription drugs are the current favorite. In my view, there's something rather frightening about a generation of drug-addicted, crutch-wielding elderly marching on the White House, screaming, "Give us our drugs! For FREE!"
What the drug-demanding generation of voters is doing, by the way, is the same they've always done: pass on another trillion dollars in debt to their children. By allowing it, the federal government is actively promoting a great Ponzi scheme which, incidentally, is a violation of federal law.
But back to the global perspective, Buffett is betting that the U.S. economy is headed for serious economic disaster, and he's not afraid to state the obvious. Personally, my money's on Buffett. Something tells me he knows more about conserving and creating wealth than a group of politicians who can't seem to stop spending other people's
money.
About the author: Mike Adams is a natural health author and award-winning journalist with a strong interest in personal health, the environment and the power of nature to help us all heal He is a prolific writer and has published thousands of articles, interviews, reports and consumer guides, and he has authored and published several downloadable personal preparedness courses including a downloadable course focused on safety and self defense. Adams is an independent journalist with strong ethics who does not get paid to write articles about any product or company. In 2010, Adams created TV.NaturalNews.com, a natural living video sharing site featuring thousands of user videos on foods, fitness, green living and more. He also launched an online retailer of environmentally-friendly products (BetterLifeGoods.com) and uses a portion of its profits to help fund non-profit endeavors. He's also the CEO of a highly successful email newsletter software company that develops software used to send permission email campaigns to subscribers. Adams also serves as the executive director of the Consumer Wellness Center, a non-profit consumer protection group, and pursues hobbies such as martial arts, Capoeira, nature macrophotography and organic gardening. Known by his callsign, the 'Health Ranger,' Adams posts his missions statements, health statistics and health photos at www.HealthRanger.org
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Monday, November 03, 2003
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