Ever climb a mountain? Ever speed your car up to 100? Ever run the one-hundred yard dash? Ever ride a bike so fast your thighs screamed in pain? Ever fly in a plane that hit 30,000 feet?
What do they all have in common? Answer: no matter how fast or high you go, you will always come back down.
In 2009, the United States maxed out, hit the wall, smashed on the brakes, screamed into the abyss. Results: 15 million unemployed Americans; 35 million subsisting on food stamps; $12 trillion debt; added three million more people via immigration; up to its ears in debt to China; extended two wars at $12 billion cost every thirty days.
Colorado economist, Mike Folkerth, www.kingofsimple.com wrote a brilliant piece on what we face--"The Top of the Mountain: Every Way Out is Down." With permission, I bring you this interview:
"I believe that America's economy has reached zenith," said Folkerth. "What I'm saying is that should anyone care to consider inflation and per-capita share of GDP, we've hit the top of the mountain, when a nation reaches the tippy-top of the mountain, it's a beautiful view right up to the point of realizing that everything from that point is downhill."
What we face in 2010 and beyond