You Better Wake Up! Daily #10

Posted: February 27, 2012 in Uncategorized
Tags: , , , , , , , , , , , ,

It was a busy weekend and I was unable to get this up over the weekend. I only have a little time this morning here’s a few things worth checking out.

Two new must-reads from investment expert John Mauldin. The first, The State of the World: A Framework.

Three major areas of the world are in flux: Europe, China and the Persian Gulf. Every country in the world will have to devise a strategy to deal with the new reality, just as 1989-1991 required new strategies. The most important country, the United States, had no strategy after 1991 and has no strategy today. This is the single most important reality of the world. Like the Spaniards, who, in the generation after Columbus’ voyage, lacked a clear sense of the reality they had created, Americans have no clear sense of the world they find themselves in. This fact continues to define how the world works.

He also had an update of his piece on taxes. Some great points in this one. I can’t believe I’m about to say this, but if it means saving the Republic, the Tea Party and other conservatives better realize that we may have to compromise on taxes to solve our problems. Tax That Other Guy

I get rather strong letters from my conservative friends chiding me for not “keeping the faith.” What we need, I am told, is smaller government and less spending. But when I press them as to whether the path we are on will result in crisis, they almost always agree that if nothing is done we will see a severe crisis. So my next question is, do they think we should hold the philosophical line, or allow the country to fall into economic chaos?

I have spent much of my life holding that line. But my analysis is that without a deficit solution we will enter another depression that will take years to come out of. And waiting until one party or the other has total control of Congress and the White House is not the answer. We are getting to the Endgame. Time is running out. We have a few precious years to set the ship of state back on a better course. I would rather keep the ship from sinking than argue about what should be on the menu at dinner. We can worry about that when the leaks in the boat are fixed.

Have you seen the hilarious Chevy Volt parody ad? It’s the Obama-Volt!

 

The debt doomsday may be here sooner than thought. It might even be before the election.

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