What do you expect when the Fed creates hundreds of billions of dollars out of thin air to bail out investment banks and GSEs? link
"...I see no possibility of Uncle Sam ever having the political will to repay debts the honorable way; nor do I anticipate outright repudiation, which would plunge the world into depression, maybe even war. That leaves the entrenched decades-long trend of dollar depreciation as likeliest course. The government will continue to overspend, the Fed will continue to inflate, and dollar-holders will continue to repay debts in depreciating dollars until creditors no longer accept those shrinking dollars." link
After being adjusted for inflation. link
I read that Americans spend more on legalized gambling than on sporting events, movies and music combined. The most popular tourist destination is Las Vegas.
