The Inflation Monster Arises

No, Chaos is not being dramatic...a reading of today's selection will induce fear and horror, if you are a resident of the most financially profligate nation on the planet. The US economy appears to be suspended in midair, held together by nothing by hope and delusions. Its people have forgotten how to save, and its government has made promises that will bankrupt it and everyone who lives here. A sober, reasonable expectation for the future will be roaring inflation and massive tax increases. Chaos envies not at all those who will be attempting to maintain employment in the US during the next twenty years or so. Scott Burns, co-author of the excellent The Coming Generational Storm, gives us an update on the state of these so-called government "promises"--Social Security and Medicare. The cost of these two programs exceeds what will be collected in taxes by 63.675 trillion dollars, more than the market value of all land, buildings, highways, plants and equipment in the US (by about 20 trillion dollars). Chaos must emphasize that these figures are not new (well, they have gotten worse of course, since nothing has been done) since commentators like Burns have been sounding the warning for years. Chaos has no further prediction beyond the obvious above, but suggests that the other factors discussed often here will enhance the negative effects. If this subject does not incline one towards relocation, Chaos wonders what would...