I recently read Glenn Beck’s book “Broke”; and last night, I went to see his live broadcast of the same name, at the local theater.
The book was fascinating in the same way the sight of a snake fascinates a rabbit. So was the show. Because the numbers don’t lie.
Glenn Beck has done a great service to those who take the time to read this book and / or watch the show. There is an encore of the live show (taped) to be broadcast December 8, 2010, if you’re interested. Admission is $20 and it is worth the money.
The United States is on an unsustainable financial path. It is going to crash. There will be hyperinflation. There will be Greece-like riots (and in fact already have been, in California). The entitlement mentality is in for a very rude awakening, because the entitlements cannot be paid for.
I’m not going to reiterate all the facts and numbers, but: The fact is, the numbers back up what Glenn Beck is saying.
There is information in both the book and the show that explains how we got in this shape, and who is to blame (the progressive / liberal / socialists). In the show, there were some visual aids that help you understand the magnitude of the problem – and it is huge. It is not going away any time soon.
What is the probability that a crash or hyperinflation will occur? I don’t know how to answer that. I’m not psychic. However, my seat-of-the-pants opinion based on the information at hand, is that the probability is really pretty high. It is possible we could circumvent a crisis if we make major changes in how we do things in the next few years; and by that, I mean serious, major changes. Like, slashing the size of the federal government, slashing spending on the federal level radically. Only radical surgery is going to save this patient, and getting well is not going to be comfortable, either.
Two problems with that: Do we have the political will to do what must be done? And, even if we do, are we in time?