A financial analyst as senior as Paul Volcker, Alan Greenspan's immediate predecessor as chairman of the Federal Reserve, recently confessed "that he thought there was a 75% chance of a currency crisis in the United States within five years."
>100% of our new economic growth is debt. In this economy it is fiscally attractive for the US to accumulate large amounts of debt, because the loans they take go directly back into economies that fund America, such as the petrodollar, the IMF/WB operations, US foreign aid coming back in the form of arms deals and engineering projects, etc. Unfortunately this is simultaneously fiscally destroying us. ~48% of our economy is devoted to military spending measures, including pensions, and not counting social security as a portion of the usable economy.
CIA analysis have said that '2007 is the year everyone plans to put all their cards on the table.' I do not like this, but I tell you because I love you. Yes, you. America is likely not counting the shells nor cards after 2007, and planning economically to have the maximum fiscal capital and most money on its soil at that point, which accounts for huge debt, which is avalanching right on schedule into insolvency and economic collapse. Patience?
Tuesday, July 25, 2006
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