Friday, January 8, 2010

2010 tough luck year for anyone connected with the US economy

1. US-based homeowners – tough luck, a wave of strategic defaults are coming, your house will lose even much more value
2. Savers in US banks – tough luck, a wave of strategic defaults are coming, you bank could be next to fall.
3. Investors in US Treasuries – tough luck, the US plans to inflate away its debt, your investment will probably have a negative real return
4. Holders of US currency – tough luck, the US plans to inflate away its debt, your currency will be less valuable when buying other currencies and foreign goods
5. US-based consumers – tough luck, the US plans to inflate away its debt, everything will cost more in your debased currency
6. Investors in US-based small businesses – tough luck, see here
7. Investors in US stocks – tough luck, a new wave of US Armageddon is coming, see all of the above and this.

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