The US is sinking ... sinking ... sinking, page-23

Debt is fine where the funds are deployed in an activity that will earn (over the life of the loan) a return greater than the interest cost.. as long as repayments can be made out of current earnings there is no issue at all

A government can successfully run deficits in perpetuity without killing the economy (if you disagree, think some more)

The US is in a strong and unique position given the reserve status of its currency.. I can't see that changing anytime soon.. for 10+ years the US has been doomed and the USD on the verge of collapse.. it is more than likely that both will still be going strong when we're all in the ground (I'm not even at mid-life crisis age, so definitely not holding my breath)

I personally believe those waiting for a prolonged 30s style depression or an 80s style spike in gold are doing so in vain.. the world is a hell of a lot different these days.. information travels the globe instantly, and is digested, acted upon, and resolved, a lot quicker

Howard paid down some debt, but he also dished out generous tax breaks which have left us with the structural imbalance of today - spending (which Labor is good at) can be easily turned off, fixing the revenue side of any business (including government) is what is painful (and Abbott / Hockey are realising)

gold bugs looking to a USD collapse generally don't appreciate what they're hoping for.. they better have more guns, ammo, agricultural land, tinned food and portable water as well as a few gold bars.. its like property bears arguing Australian property is in a bubble and equities provide a better investment.. if a bubble does in fact exist, and it bursts, what do you think is going to happen to the share market?