[gfaremil]

Comparing personal budget with US budget is a gross oversimplification.

First, US can (it is already doing via QE) monetarazie all the debt. And one comedian said: US can just start a little bigger war to get us out of the.

Also don't forget that 4/5 of all that "government" spending (that is medicare, SS and defense) is actually just tunneling money to other parts of economy (defense contractors) and poor people.

Also we have disturbing trend which will, I believe, start making differences: the rich are getting richer and poor are getting poorer. If that trend continues, we will see some Trocky wannabes popping around.

What I see happening in the coming years:

1. One more banking crisis: this time it starts from China. They say all depressions have two legs: the second is leg is longer.

2. Thanks for this new banking crisis, we will finally reconstruct the banking sector and make it more efficient. There will be no more 4 banks on each intersection in downtown SF.