Quote of the day

"Today’s debate over federal spending and taxes is just so much fantasy. We’re like a family arguing about redoing the kitchen while the house burns down. It’s an irrelevant, annoying discussion. The interesting debate will take place after the collapse, when we have to decide what kind of society to rebuild from the rubble. Then we can argue for limited government and individual rights and sound money and all the rest. Politics will be interesting again. Until then, we should protect our families and tend our gardens."

John Rubino- Interview with Chris Martenson.

Full interview at:

http://www.zerohedge.com/article/straight-talk-john-rubino-damage-already-done

It is time to forget about the false left-right paradigm as both parties have essentially been captured by their wall street masters. The only thing we can do now is prepare for the inevitable paradigm shift by saving as much money as possible, converting said currency into precious metal, become physically, mentally and emotionally fit as possible.

Until next time,

Subprime

President Obama's 2012 budget proposal

As usual, the revenue (green) projections are wildly optimistic. Fiscal 2011 projected revenues are $2.17 trillion while the white house is projecting over $3 trillion in revenue for fiscal 2013. A 50% increase? Ha.

Per the WSJ:

FY 2011 projected revenue: $2.174 Trillion
FY 2011 projected spending: $3.819 Trillion
FY 2011 projected deficit: $1.645 Trillion
Spending as a % of GDP: 25.3%
Deficit as a % of GDP: 10.9%

FY 2012 projected revenue: $2.627 Trillion
FY 2012 projected spending: $3.729 Trillion
FY 2012 projected deficit: $1.101 Trillion
Spending as a % of GDP: 23.6%
Deficit as a % of GDP: 7.0%

FY 2013 projected revenue: $3.003 Trillion
FY 2013 projected spending: $3.771 Trillion
FY 2013 projected deficit: $768 Billion
Spending as a % of GDP: 22.5%
Deficit as a % of GDP: 4.6%

FY 2014 projected revenue: $3.333 Trillion
FY 2014 projected spending $3.977 Trillion
FY 2014 projected deficit: $645 Billion
Spending as a % of GDP: 22.4%
Deficit as a % of GDP: 3.6%

FY 2015 projected revenue: $3.583 Trillion
FY 2015 projected spending: $4.190 Trillion
FY 2015 projected deficit: $607 Billion
Spending as a % of GDP: 22.3%
Deficit as a % of GDP: 3.2%

I will be keeping this forecast for our record books. I can't wait to see how the Ministry of Plenty will be playing with these numbers by 2013.