Jump to content
CaddyInfo Cadillac Forum

The Looming Bankruptcy

Recommended Posts

Here follows a quote from a financial newsletter I subscribe to.

"Currently, the total debt in the United States

is nearly $60 trillion. That’s $186,000 per person

in the United States, or $750,000 per family.

Looking at the numbers this way should make it

obvious to anyone: These debts can never be


And without heavily progressive taxes on

the rich these debts could not even be financed.

Last year, total debt increased by $3 trillion

–roughly eight times faster than GDP.

None of these figures include any of the unfunded government

obligations, like Medicare or Social Security.

And here’s the kicker: Nearly all of these debts

were created since 1990 ($45 trillion)."

That's about as far as I can go quoting without violating "Fair Use" doctrine. Nevertheless, the substance of my argument is this: our government is killing us economically. It would be charitable to say they do not know what they do.


I've come to understand our politicians care only about their re-election. They know EXACTLY what they are doing. Do you?

Sure, I could be wrong, but why are we the greatest debtor-nation on this planet when I can remember, in my lifetime, we were the greatest creditor-nation on this very same planet?


They will bury you. However, I somehow suspect they will make life comfortable for themselves. Whaddayouthink?

What do your friends and associates think? I'd like to know.



See: http://www.stansberryresearch.com

Posted Image

There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises

Link to comment
Share on other sites


This topic is now archived and is closed to further replies.

  • Recently Browsing   0 members

    • No registered users viewing this page.
  • Create New...