It isn't just the trade deficit that's clobbering the dollar and the U.S. economy, it's also the out of control government spending. A review of new federal spending passed in 2003 shows that Republicans and Democrats alike are exercising virtually no fiscal restraint whatsoever. All across America, it's handout time. Senator McCain said it correctly: "They're spending money like a drunken sailor."
Buffett is just one of many observers with a global perspective. Soros is another. Both agree that the U.S. is presently trodding down the path of economic ruin. You simply can't keep spending
money you don't have
and export $500 billion in trade deficits each year.
Oblivious to economic reality, the voting public continue to demand their handouts: prescription
drugs are the current favorite. In my view, there's something rather frightening about a
generation of drug-addicted, crutch-wielding elderly marching on the White House, screaming, "Give us our drugs! For FREE!"
What the drug-demanding generation of
voters is doing, by the way, is the same they've always done: pass on another trillion dollars in debt to their children. By allowing it, the federal
government is actively promoting a great Ponzi scheme which, incidentally, is a violation of federal law.
But back to the global perspective, Buffett is betting that the U.S.
economy is headed for serious economic disaster, and he's not afraid to state the obvious. Personally, my money's on Buffett. Something tells me he knows more about conserving and creating wealth than a group of politicians who can't seem to stop spending other people's money.
About the author: Mike Adams is a natural health author and award-winning journalist with a passion for sharing empowering information to help improve personal and planetary health He has authored more than 1,800 articles and dozens of reports, guides and interviews on natural health topics, impacting the lives of millions of readers around the world who are experiencing phenomenal health benefits from reading his articles. Adams is an independent journalist with strong ethics who does not get paid to write articles about any product or company. In mid 2010, Adams produced NaturalNews.TV, a natural health video sharing website offering user-generated videos on nutrition, green living, fitness and more. He also launched an online retailer of environmentally-friendly products (BetterLifeGoods.com) and uses a portion of its profits to help fund non-profit endeavors. He's also a noted pioneer in the email marketing software industry, having been the first to launch an HTML email newsletter technology that has grown to become a standard in the industry. Adams also serves as the executive director of the Consumer Wellness Center, a non-profit consumer protection group, and pursues hobbies such as martial arts, Capoeira, nature macrophotography and organic gardening. He's also author of numerous health books published by Truth Publishing and is the creator of several consumer-oriented grassroots campaigns, including the Spam. Don't Buy It! campaign, and the free downloadable Honest Food Guide. He also created the free reference sites HerbReference.com and HealingFoodReference.com. Adams believes in free speech, free access to nutritional supplements and the ending of corporate control over medicines, genes and seeds. Known on the 'net as 'the Health Ranger,' Adams shares his ethics, mission statements and personal health statistics at www.HealthRanger.org
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Monday, November 03, 2003
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