Saturday, October 17, 2009

U.S. Economics

If U.S. Economics makes any sense please let me know for I can't see how zero interest rates, high unemployment, 1.4 trillion dollar deficits, two wars, giving away billions of dollars to banks without accountability, plunging value of the dollar, ignoring running out of petroleum, a crumbling infrastructure, being on the verge of allowing up to 20 million poor illegal aliens a free pass to citizenship at the same time shipping jobs over seas or over the border can bring about a robust economy in the near future, or if at all. All these things above mentioned are trending to get worse in the short term, if not for the long term. A declining petroleum reserve is in itself bad news. As time goes on more and more countries will be bidding for less and less oil. By 2034 world oil will be so short that it could be considered fully depleted. World use of the stuff increases generally more than the population growth, which is 1.25% per year. World consumption is about 25 billion barrels a year. At this time the U.S. imports over 60% of the oil it uses, which is over 7 billion barrels a year. It has less than 21 billion barrels in reserve, that is, in the ground. The U.S. started out with over 200 billion barrels in 1860.

How we are avoiding high inflation rates I don't know either. The chickens are bound to roost sometime. Smart people are asking smart questions but there are a lot of dumb incompetent people in position to do something that can't because of a obsessive ideology paralyzing their ability to do anything.

We are trapped by our own primitive instincts. Does anyone hear four horses approaching?

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