Jump to content
House Price Crash Forum
Sign in to follow this  
OnlyMe

Comptroller General Of The United States

Recommended Posts

Nothing that hasn't been said before here and is just as applicable to the UK as the US.

Still want a mortgage round your neck larger than any previous generation?

http://news.yahoo.com/s/usatoday/afiscalhu...aneonthehorizon

The comptroller general of the United States is explaining over eggs how the nation's finances are going to hell.

"We face a demographic tsunami" that "will never recede," David Walker tells a group of reporters. He runs through a long list of fiscal challenges, led by the imminent retirement of the baby boomers, whose promised Medicare and Social Security benefits will swamp the federal budget in coming decades.

The breakfast conversation remains somber for most of an hour. Then one reporter smiles and asks, "Aren't you depressed in the morning?"

Sadly, it's no laughing matter. To hear Walker, the nation's top auditor, tell it, the United States can be likened to Rome before the fall of the empire. Its financial condition is "worse than advertised," he says. It has a "broken business model." It faces deficits in its budget, its balance of payments, its savings - and its leadership

Share this post


Link to post
Share on other sites

Still want a mortgage round your neck larger than any previous generation?

Hmmm let me see, the world awash with fiat money further than the eye can see and yet supposedly there is not enough to fund a meagre retirement or provide medical cover.

Of course they will be able to fund retirement etc.. They can just print more money.

They say they can drop money from helicopters if need be and yet the irony is that there may not be fuel around to keep the helicopters flying.

Not that they would be allowed to fly the thing, as everyone by then will be employed by the government and we all know that nothing the government makes or does works anyway.

In the mean time I can saddle myself with more debt than a small country because I can lie about it on the application form or borrow it at 0% on a credit card, which by any other name would be called a debt card.

And when I sit on my pile of debt or rather (as I prefer to call it) hide in the huge debt hole because I have no spare money and therefore cannot afford to do anything fun anymore.

And pesky council officials will be around to check to see if I have a nice view, or a patio so that they can charge me more money in council tax but which I call rent money as if I don’t pay it then the council take my house away.

But my wife will be happy because she buy plastic replacement windows, shoes and other tat, that a country on the other side of the world managed to create, ship all those thousands of miles here and drive it up the M11 to a shop near my house, far cheaper than anyone of us in this country can make here.

And meanwhile I will have to sit on the side of the road counting lorries drive past because its another government job created scheme just so house prices stay out of reach of sane people.

I have to say the short answer is therefore - Nope.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.