The United “Bankrupt” States of America
Harry S. Dent, JR.
Fact: The U.S. Debt and Stimulus Is Simply Not Sustainable:
Question: What Happens When Interest Payments Crowd Out Defense and Entitlements?
Niall Ferguson, author of The Ascent of Money: A Financial History of the World, has been commenting lately that the U.S. government should be hearing alarm bells, given the rising debt and stimulus programs. In contrast, mainstream economists like Paul Krugman have been saying that if the U.S. doesn’t stimulate more quickly and aggressively, it will fall into another depression or deeper downturn. Ferguson’s point of view from looking at history clearly is superior, from our perspective. He notes that most great empires and dominant economies fall rapidly in years or decades, rather than slowly, due to financial stresses from their increasingly over-extended empires.
The Facts Point Towards Insolvency
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http://www.escapefromamerica.com/2010/11/the-united-bankrupt-states-of-america/
Nov. 10, 2010