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America Is Bankrupt

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The fudging of the Fed stats

The United States is Bankrupt and in recession according to economist Walter J. "John" Williams.

A collapse in the dollar the worlds reserve currency and hyper inflation, will happen at some point.

Listen to his gloomy prognosis here. (you know you love it)

Howestreet

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Don't forget there's $50,000,000,000,000 or more of unfunded liabilities over the next few decades that aren't included in those debt figures.

Problems with GNP: Inflation understated, and so growth is overstated.

The same, of course, applies here in the UK.

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The fudging of the Fed stats

The United States is Bankrupt and in recession according to economist Walter J. "John" Williams.

A collapse in the dollar the worlds reserve currency and hyper inflation, will happen at some point.

Listen to his gloomy prognosis here. (you know you love it)

Howestreet

If business accounting standards are applied to the government they may indeed be bankrupt. The most serious accusation is that the liabilties of the Federal government are increasing by the order of $3 trillion every year because of pensions and healthcare.

He puts the current US National Debt somewhere at the order of $35 trillion, meaning either a lot of work for the printing presses or some serious defaults on their healthcare and social security obligations....

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Just been on BBC Hard Talk, David Walker US auditor in chief inteviewed. 'US policy on unsustainable course' looked rather honest & doomy.

"Monday 27 March

Some believe that America, the richest, most powerful nation on earth may face a fiscal “tsunami” which threatens to overwhelm Government and citizens alike. America’s auditor in chief, David Walker, whose job it is to oversee all Federal spending, strongly believes that this will happen. He is pleading with US politicians and taxpayers to face up to the harsh economic realities that come with an ageing population and spiralling budget deficits. Stephen Sackur talks to David Walker about whether such an economic disaster really is so close at hand."

EDIT: 5.55am Only caught the words, not the source (may have been newspaper review), but they just mentioned discussion of the possibility of a housing crash in USA on BBC News 24.

Edited by Saving For a Space Ship

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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