I am not an economist, or at least not a professional one.
But, I can't help but see doom and gloom with regard to the US economy. It's been reported that the gap between the rich and the poor is the highest it's been since the 1920's, the federal government has a huge debt that will require raising taxes to pay off, and those taxes will hamper economic growth, and then there's this subprime mortgage mess, the effects of which are (according to people like Ben Bernanke) going to last a long time.
Of course, these problems are problems also for the international economy, not just the US, but it seems to me that the US would be the hardest hit.
And then we have the political situation, and this worries me the most. I haven't come here to start a political flame war, but, suffice it to say, there are many people, including one presidential candidate, who are openly calling the actions of the US government criminal. IMHO, the atrocities in Iraq, such as the Nisoor Square Massacre last month, have a very real chance of resulting in economic sanctions, either implicit or explicit, against this country. You can only generate so much hate from the rest of the world before people stop trading with you. Add to this problems with domestic policy, like the recently announced ex-post-facto law granting immunity to telecommunications companies for helping the NSA spy on Americans, the pardoning of Lewis Libby, widespread accounts of police brutality, and the firing of nine US attorneys for political reasons, and the threat of an economically devastating open revolt starts to become serious.
I understand that many, if not most, people here will have other opinions about the political state of the country, and that's fine. My point is that dissent and unrest exists, and in a quantity that this country hasn't seen in a long time. I'm sure we can all agree on at least that much. The long term investor typically dismisses short and intermediate term problems like these, and I'm tempted to simply say, "It's a phase, and it'll be different soon," but as I wrote above, the income gap, national debt, and foreign hate could create long term consequences.
I can easily see the poor and working class blame--and rightfully so--these problems on the rich, and respond by electing people who will raise capital gains taxes, or make other attempts at wealth redistribution.
With this in mind, how are you investing? Are you buying nothing but international stock? Have you opened accounts in other countries? Are you hunkering down and waiting for the storm to pass with bonds? Or are you waiting for the revolution with silver? Or do you think the problems are exaggerated, and the US economy will do just fine?
Since this is the personal finance forum, I'm hoping the replies will relate in some way to investing, and that my post isn't too trollish.