Outsourcing America 3012

Got that right. The best years for our economy were from right after World War II to the mid-70s (about the time of the first oil embargo). Since then, we been screwed by bad trade deals with each sucessive one being pursuaded with the same stupid rhetoric, "this trade deal is different this time" or "it's good for the U.S." Poor leadership and way too much corporate power is another factor. Our society as a whole seems to have paralelled that decline.

I read an article the other day about how many baby boomers, becuase of poor retirement planning and lack of savings, are using or planing to use their house as cash box by way of reverse mortgages. I wonder if this will lead to an even bigger bust in the next couple of decades since boomers will not pbutt their houses to their children and banks will own homes that no one will be able to afford.

Do you think a big enough housing bust

It's a worry, especially when you consider that 65+% of the U.S. Economy is consumer spending and that all the cash-out refinancings of the last few years have help prop up the spending.

Is "Helicopter" Bernanke

Usually radical political changes only occur after things have gotten very dire. The Great Depression enabled FDR to get social changes through, which at the time were considered very socialistic.

I have been putting around $12,000 of my check into my 401k for at least the last 2 years, have contributed the maximum allowed amount to my Roth IRA since 1998, and have been paying off my bills each month. I have never owned a home, but would never think of it at today's prices, especially here in California. The debt-style living of many Americans cannot go on forever and I think it is smarter if you go against the tide (current tide of thinking is that house prices will always go up-up-up therefore more debt is good). However, some people fear that their savings may be seized if government becomes too corrupt or desperate.