Global Financial collapse

[JERRY2KONE]

You missed one very big thing in your sumation. The US Gov is the biggest employer in the USA, plus they hold contracts with some of the largets private companies across the nation. With the projected budget cuts we are about to see one of the biggest layoffs in our history to reach the balanced budget that Obama wants to see before he leaves office. When these cuts go into effect there will be another 1 million people dumped into the unemployment ranks, along with another 1million people laid off by Gov contractors. With all of these layoffs the US Gov will also lose revenue and have to raise taxes on those who are left still working. These budget cuts are going to hit so deeply that things can only get worse than they already are. Meaning a plunge in the overall value of the US $. Now I am not some economic genious or stock market whore, but this all looks bad to me for our country, and I really do not see any way to avoid it either. Raising the countries debt ceiling year after year has got to stop. Our Gov is writing check that we no longer have the assets to back them up. The next step will be selling off huge amounts of our country to foeign countries.