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Examples Will Decker examples
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So, yes, there are solid fundamentals that arguably support today's higher gold price, although it is far more debatable whether and to what extent they will continue to support higher prices in the future.
Yet 2008-2009, like 1989, may very well correspond to an epochal change, whose unfolding consequences will be felt for decades.
Only when more parents, teachers, and community leaders behave likewise will recruitment of terrorists dry up and law-enforcement authorities receive full cooperation from the populations they police.
The higher the growth rate, the more revenues the government will collect without raising tax rates; and higher revenues enable smaller deficits.
Most of the weight will remain, and one's life prospects will have worsened significantly.
Second, troubles in any single component of total debt will have an impact on all the other components.
But where will increased competitiveness come from?
If foreign financing is not forthcoming, yields on US government debt will rise and the US economy will fall back into recession.
Only then will America improve its competitiveness enough to allow the government to reduce both private and public debt to sustainable levels while maintaining a respectable growth rate.
In the short run, the US current-account deficit will remain, regardless of which country runs bilateral surpluses.
It assures the three small Baltic countries that the nightmare of occupation by big neighbors (Hitler's Reich and Stalin's USSR), which they endured for half-a-century -- will not be repeated.
Expansion will also create a better Europe because enlargement widens the territory in which countries are committed to NATO's political values, including individual rights as well as the rights of minorities.
But gold bugs are right to worry about whether the government will honor its commitments under more extreme circumstances.
What, for example, will happen to a country as central and vulnerable as Egypt when hundred of thousands of Egyptians working in the Gulf are forced to return to their homeland as a result of the crisis in the oil-producing countries?
That leaves only about one-third of total federal spending from which to cut, and much of that goes to the defense budget, which Republicans will attempt to protect in the future.
This is too small a pool of money from which to achieve deficit reduction on the scale that the US will need in the years ahead.
Cutting these programs will lower American economic growth in the long term, with negative consequences both at home and abroad.
There will always be those who will resort to force against innocent men, women, and children in pursuit of political goals.
Terrorism must lose its legitimacy among those who have historically supported or tolerated it before it will lose its potency.