Charles Hughs Smith in his blog Of Two Minds that a number of last years tax payers are going to be this years reporters of losses. The deficit projections of today are probably not factoring in the reality of decreasing revenues that will be the stark picture of opening the closet door and finding the spouses nude lover standing there.
The federal government is now in the damned if they do, damned if they don't circumstance where if they don't spend money, prices will have to deflate incredibly as the government employed and benefited, lose their income and if they do spend it will be borrowed money and they will need to ever spend even more and more to keep up with the interest.
We are nearing the undeniable point where people outside of the US Dollar system will want to be the last person holding it. I am working on a Local Exchange Transaction System (LETS) as a local economic alternative to the US Dollar.
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