December 17, 2008

WHO WILL BAIL OUT UNCLE SAM? “The United States of America is bankrupt. Don’t believe it? Consider this: Federal obligations now exceed the collective net worth of all Americans, according to the New York-based Peter G. Peterson Foundation. Washington politicians and bureaucrats have essentially mortgaged everything We the People own so they can keep spending our tax dollars like there’s no tomorrow.” If these numbers are accurate, it’s very bad news.

UPDATE: Four really bad scenarios. Remember, every well-balanced portfolio includes substantial positions in shotgun shells and canned goods! And hey, it could be worse: “I’d rather be the United States than any of these other countries.”

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