There are only two types of Americans: 1) Those who KNOW that the Titanic (US Economy) has hit the iceberg and is going down, and 2) Those who don't (mostly those with thick rose colored glasses) and will slowly figure it out.
I've been saying since 2008 that we will not over come this debt bubble. There is simply too much debt and not enough income to pay it off. It was easy to predict the solution politicians would use for this crisis: more debt. And that shall be their answer until it all blows up.
The only way to protect yourself is to buy gold and silver related assets. Physical is of course the safest way to go, but mining stocks are likely to have their day. When do people figure out that Treasury's are not the safest investment? That in fact, Treasury's are inherently risky? And that the only SAFE investment is gold. I also like silver as an investment, but it is gold that is the SAFE investment.
I think the run to gold will be furious over the next 2-3 years. I could be wrong as no one KNOWS for sure. But the fundamentals for the economy are absolutely awful. Energy prices are hindering growth as well as sluggish consumer spending. The housing market is not likely to turn around (I don't care what analysts say on CNBC).
And if the signs were not clear enough, our largest 5 banks are absolutely vulnerable due to their derivative exposure. If one of these banks goes down, they all are going to be hit hard. At some point, there will be the mother of all crisis. When will it come? It sure feels like a countdown to me. My bet is sometime in the next 24 months (or maybe next week). It's getting close.
The reason I am so confident is that this didn't start recently. This debt monster started 40 years ago, in the early 1970s. The escalation has risen to the point, where we are screwed. This weekend everyone will watch college and pro football and think life in America is still grand. But it is an illusion and is on the edge of a demise. As Pete Townsend wrote: "It's an eminence front, an eminence front... it's a put on!"