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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 researcher and author with a passion for sharing empowering information to help improve personal and planetary health He has authored more than 1,500 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 2007, Adams launched EcoLEDs, a manufacturer of mercury-free, energy-efficient LED lighting products that save electricity and help prevent global warming. He also founded an environmentally-friendly online retailer called BetterLifeGoods.com that uses retail profits to help support consumer advocacy programs. He's also a successful software entrepreneur, having founded a well known email marketing software company whose technology currently powers the NaturalNews email newsletters. Adams also serves as the executive director of the Consumer Wellness Center, a non-profit consumer protection group, and regularly pursues cycling, nature photography, Capoeira and Pilates. 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 as the 'Health Ranger,' Adams' personal health statistics and mission statements are located at www.HealthRanger.org
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