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Date: June 18, 2010
Subject: Glimpses of the End Game

This is
G&G Associates Tax & Financial Consulting

Glimpses of the End Game

Hotep (Blessings) G&G Readers,

Anyone not blinded by greed can plainly see the sick cycle we’re in:

First, the government helps create a great asset bubble.

Next, the government-created bubble bursts under a dark cloud of hardship for millions of Americans, and … Last, the government responds by creating still ANOTHER bubble, often far more dangerous than the previous.

A rare sequence of events? I don’t think so…I say it all the time HIS-STORY repeats itself.

Just in the past dozen years, we’ve already seen three — the tech bubble and wreck … the housing bubble and bust … and now the sovereign debt explosion and implosion.

Become a GGIS subscriber now and you’ll be sure that we make sure you stay on top of your Tax and Financial Future to make sure your BUSINESS … AT HOME is protected. Remember…most people look after their bosses business, but fail to look after their own Business At home.

Take advantage of our 2010 discount offer if you are not yet a member of the GGIS paid newsletter service and you’ll be on your way to knowing how to protect your least what’s left of it. I’ll keep you informed on the “REAL DEAL” in our economy so you can protect your wealth. So....Sign up today!!!

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New Austerity Measures Sweep The Globe

Hard to believe? Then take a closer look at the sudden rush to austerity announced just in the past few weeks:

Greece has finally bowed to unrelenting attacks from global investors and is slashing 30 billion euros from its budget in three years.

Spain, also under massive pressure from investors, has announced spending cuts of 15 billion euros, plus a 5 percent reduction in public worker wages.

Portugal is getting ready to embark on a program to cut 2 billion euros this year alone.

Italy is slashing 25 billion euros from its budget over the next two years.

Germany, supposedly the most robust of all euro-zone countries, has no choice but to follow a similar path — cutbacks of 85 billion euros by 2014.

But this is just the beginning.

In the UK, newly elected Prime Minister David Cameron has wasted no time in confessing that Britain’s financial situation is “even worse than we thought.” He has blatantly declared how sharply he’s going to break with his predecessors on stimulus programs … how hard he’s going to slam down on the brakes, and how quickly he’s going to prescribe a harsh regimen of spending cuts.

Expect cutbacks of at least 6.2 billion pounds this year alone.

In Japan — where newly installed leadership is also trying to make a clean break with the past — we see the same pattern: Late last week, Prime Minister Naoto Kan pulled no punches in declaring that:

Japan’s “outstanding public debt is huge.”

Its “public finances have become the worst of any developed country.”

And the entire country is at “risk of collapse.”

Even in Washington, voices advocating a second round of stimulus have suddenly gone silent. According to the New York Times,

“At a moment when many economists warn that the American economic recovery is likely to be imperiled by prolonged high unemployment and slow growth, President Obama is discovering that the tools available to him last year — a big economic stimulus and action by the Federal Reserve — are both now politically untenable."

“The mood in both parties of Congress has turned decidedly anti-deficit, meaning that the job-creation programs once favored by the White House and Democratic leaders in Congress have been cut back, then cut again."

“It is a measure of the mood that Mr. Obama last week hailed an initiative by his administration to cut the budgets of most major government agencies by 5 percent, at a time when conventional theory would call for more government spending to lift the economy.”

Will politicians in Washington, Tokyo, London, Berlin, Rome, Lisbon, Madrid, or Greece cut enough to restore fiscal balance? I doubt it.

But never forget:

These governments are the ones that injected the mega doses of stimulants into the bloodstream of their economies last year. And these governments are also the ones that everyone hoped would provide the NEXT big fix.

Now, even if they don’t cut their budgets by a penny — even if they simply fail to renew their stimulus programs — the impact could be severe.

This isn’t rocket science folks!

The U.S., Europe and Japan are addicted to stimulus. But instead of more injections, governments are now prescribing cold turkey or tofu for those vegetarians like me...:o).

Even if they don’t cut very much, instead of more economic recovery, we will inevitably see severe withdrawal pains and another major slump.

My recommendation:

Don’t wait for the Biggest Shock of All…your retirement account going south…especially when you can take action to preserve it.

Don’t delay while debt façades crack around the globe.

Heed my multiple warnings of the dangers ahead and follow my suggestions to action. The only one that can “SAVE” you and your portfolio is “YOU.”

Also, if you need a personal one-on-one consultation, please feel free to contact us to setup an appointment.

If you missed a past G&G article, click on the link below to visit G&G Associates archive:

Until the next time!

Asante Sana (Thanks)

Gary Gray
Tax & Financial Consultant, RFC
G&G Associates
757-251-0174 office
866-361-3872 toll free fax

"Your mind is like a parachute, it only works when it is open."
C. Brown

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