Originally Posted by Webby

Dunno.. but inclined to agree with you on land - particularly homes when there is a economic downturn. It's not so much the value, but the fact that you got a home and a roof over your head.

Tho strong is certainly not a word I'd use to describe the US economy - it was (in 2004) running at a deficit of over $50 trillion - and hell knows what it may be now. This is reflected in the current dollar value and there is obviously going to be a debt increase as long as this low value remains.

In the spring of.. think 2003, the US Treasury issued the most comprehensive report ever on the economy - it took them 15 years to produce. An interesting, but simplified stat resulting from that report was.. if you add up all real estate value and the contents within homes etc - that represented 94% of the national debt. The situation is most likely worse now and over 100%.

The "solution" of the Treasury was to increase taxation asap up to around 60% and maintain this as long as needed, tho that sounds more than drastic - but it was their considered opinion.

Truth is, US folks work longer than in many other nations already - it makes ya wonder how much more that cow can be milked to produce an income source for govt. Despite that, spending is 160% of wages - basically helping increase the national debt in consuming of imported products - and adding to personal debt.

Who knows... but got a gutty feeling there will be some changes over the next 10-20 years. What they are, hell knows, but unsustainability can only last so long.