Showing results for tag "debt crisis"
Legendary speculator Doug Casey explains the difference between a national government and a nation's economy, why the latter cannot be trusted with the former, and his perspective on today's markets.
A concise explanation of why government debt is double-plus ungood for a country's economy.
In 1919, the Treaty of Versailles was signed as a peace agreement after World War I. Under the treaty, Germany accepted that they had caused the war and therefore were obligated to pay reparations to the tune of US $31.4 billion (US $442 billion in today's money).
It's no secret that the European Union is on the skids - every day new twists in the sovereign debt crisis dominate the headlines. But if the EU does break up, what will rise in its place? Jeff Thomas explores and weighs the possibilities.
It's time the average person on the street faces facts: bailouts, subsidies and handouts cannot continue indefinitely. Yet, for some reason, they expect it to not only continue, but for governments to increase the amounts given out. Pretty much all of our members already realize this, and have taken or are taking steps to prepare for economic problems ahead. Of course, it won't just be a problem of economics. Today, Jeff Thomas looks at another aspect of the upcoming crisis: social upheaval.
As readers will most likely know, the US Congress, in its decision to raise the debt limit of the federal government, chose to create a "Super Committee", which would have a temporary job of determining $1.2 trillion in budget cuts over the next ten years. After appointing this committee, Congress went on vacation for a month. Sounds reasonable, doesn't it?
For many years, those of us who are not American have frequently advised our American friends of the coming economic collapse of the US, suggesting that they prepare a "back door" so that they are not trapped in a location that may well be a problematic and even dangerous place to live for themselves and their families.
Some people are more observant than others. Some are more capable of thinking outside the box than others. Whether this is by nature or nurture is a moot point.
For many years, we have been predicting that the die has been cast for economic and political cataclysm for the US economy and, by extension, that of the first world. Not surprisingly, the reaction by most others over the years is that the sun is still shining and that only a "Chicken Little" would be predicting a major storm. During this period, most people have said, "We'll deal with it if it comes and not before."