This quote was taken from one of the many newsletters I read.
It appeared in the Australian newsletter, “The Privateer”:
“In 1909, the US federal government had an annual budget of $US 0.8 Billion. With this it governed a population of just over 90 million people. The cost of government was about $9 per capita. In 2009, the US federal government has an annual budget of $US 3,550 Billion. With this it governs a population of just over 300 million people. That’s a cost of about $11,675 per capita.” Read more »
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I think most people would agree that George Washington was the most revered of our nations’ early leaders. Yet if I were to tell you his opinion on the way the Federal Reserve and recent Presidential administrations were handling the economy, most Americans would be shocked to say the least.
Before you think I’m totally crazy or taken with the idea of talking to the departed via crystal balls, Ouija boards or channeling, let me explain. Mr. Washington very clearly stated his opinion on the actions of today’s politicians – and let me say, he clearly wouldn’t like it. Incredibly, even though most of our politicians are presumably well educated and have studied the laws of the land, history and the US Constitution, they have abandoned many of the ideals of our founding fathers along with the economic principles on which this country was founded.
Let me prove it to you. Read more »
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Below is an excerpt from the September issue of ‘Moving Markets’, my periodic market update. For a complimentary copy, click the link at the end.
Despite the fact that we’ve borrowed our way to ‘prosperity’ over the past 20+ years, we’ve now, I believe, reached our limit. The system can’t handle any more debt. The deflationary environment in which we find ourselves is a result of this massive debt load. And, in spite of the politician’s best efforts, we can’t borrow our way out of this one.
Let me put this debt burden in perspective. Read more »
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