Question: A Greek, an Italian and a Spaniard walk into a bar. Who picks up the tab?
Answer: The American Taxpayer.
Three very important lessons from Charles Goyette (he also predicted the 2007 crash and the Eurozone crash as well) writing on the Eurozone crisis and how US taxpayers are being shafted to bailout Europe’s mess. The US Debt (yes – not my debt, not your debt – but you, your children, your grandchildren and their children will be paying for it in the form of higher taxes) is already at $15 trillion and the US government has only one income to pay it off – taxing the most productive and hardworking members of society. Two sure things in life – death and higher taxes.
Read the article at:
Nation states and their institutions, the governing classes and the lapdog media are always surprised by crisis. But you don’t have to be. If you understand that the European debt crisis is a dress rehearsal for what is to come here at home, you aren’t likely to underestimate the problem or put much stock in patchwork plans that provide liquidity but leave the underlying debt unaddressed.
For astute investors the allure of gold, which is nobody’s liability and doesn’t need to be backstopped by anyone, grows with each new state crisis.