There is no upcoming depression. That's wacko. Despite
bu**** and company, it's just not going to happen. All
of the recommendations (except the Swiss account)
are worth doing anyway. Any smart person who can do
it, should do it. Many people cannot in a large measure
because of the current administration.

--
"j" ganz @@
www.sailnow.com

"Bart Senior" wrote in message
et...
Your point is well taken. It is crucial that the
government downsize itself and become fiscally
responsible. That will not happen until the next
crash when it will be unavoidable.

The economic reason for the current spending is it is
believed to forestall recession. And the big fear is of
course the inevitable upcoming depression--which can
be delayed, but not prevented. Unfortunately, delaying
tactics only extend the term of economic crashes. The
balloon will break at some point, consumer confidence
will be lost and we will all be hit hard as real estate prices
crash. Those with liquid assets will be in the best situation
to capitalize. Those in weak positions will lose out.

Indicators of this are the following:
1. A rising percentage of debt compared to nominal GNP.
2. The furious efforts of the banking industry to roll
unsecured debt into secured real estate.
3. A record of extraodinarily high returns in many
forms of investment a decade or more ago which
typically cycles to normal returns and then far below
average returns.
4. Debt compunding faster than income.
5. Foreign debt defaults.
6. Financial scandals. Research the Hatry Scandal
and the famous frauds of Ivar Kreuger, and the Credit
Moblier Scandal, and compare them to their respective
economic environments.

It would be far better for the government to adopt
conservative spending habits, but they never do, each
group points to the other when things are bad, and takes
credit when things are good. The truth is all governments
tend to be both irresponsible and inept.

A smart person will reduce expenditures, increase
savings and open a Swiss Bank account.

Vito wrote

leave our kids to pay the interest. Clinton was a tax-and-spend
Democrat.
Bush is a borrow and spend even more Republican. Which is worse?