No politician, media pundit, Federal Reserve banker, retail CEO, or willfully ignorant mindless consumer wants to admit the truth that the last three decades of debt delusion are coming to a tragic bitter end.
Post Tagged with: "fiscal crisis"
December 23, 2010 08:06
10 Trends for 2011
Trends we have previously identified, and that have been brewing for some time, will reach maturity in 2011, impacting just about everyone in the world. – Gerald Celente
December 7, 2010 20:02
2nd senator speaks of imminent financial collapse
We are on the edge of a financial meltdown.- Retiring Sen. George Voinovich (R.-Ohio)
July 29, 2010 07:43
Growing level of debt increases risk of financial crisis says CBO
“A growing level of federal debt would also increase the probability of a sudden fiscal crisis, during which investors would lose confidence in the government’s ability to manage its budget, and the government would thereby lose its ability to borrow at affordable rates. It is possible that interest rates would rise gradually as investors’ confidence declined, giving legislators advance warning of the worsening situation and sufficient time to make policy choices that could avert a crisis. But as other countries’ experiences show, it is also possible that investors would lose confidence abruptly and interest rates on government debt would rise sharply.” CBO
March 5, 2010 06:20
What Unsustainable Looks Like
This gross federal debt is comprised of the debt held by the public ($8.8 trillion) plus the debt held by intra-governmental accounts ($4.5 trillion), such as the money paid by taxpayers for Social Security and Medicare. Together, this gross federal debt represents over 90 percent of U.S. GDP.
