Thursday, October 29, 2009

The Real Threat Facing America

There is a must read piece by Eric Sprott and David Franklin at Sprott Asset Management (link below) about the real existential threat facing America - the fact that our government is broke and we are nowhere close to being able to pay for all the liabilities that are piling up. As has came up in our discussions with a very enlightened reader - the threat to America's security and existence is not external (terrorists) but internal. We as a nation will destroy ourselves, if we do not get our house in order. Americans can no longer afford to finance huge wars, unprecedented bank bailouts, skyrocketing healthcare costs etc. and expect our freedom, liberties and way of life to stay intact. There is a HUGE iceberg (in the shape of our colossal liabilities) that we are going to hit unless we as a nation agree to change course.

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