How the ballooning US budget deficit will hurt the world and result in an American economic calamity.
AKA the US economy is dead. It just hasn't stopped moving yet.
From The Economist, no less.
http://economist.com/opinion/displayStory.cfm?story_id=3446249Excerpts:
"America has habits that are inappropriate, to say the least, for the guardian of the world's main reserve currency: rampant government borrowing, furious consumer spending and a current-account deficit big enough to have bankrupted any other country some time ago."
...
"If the dollar falls by another 30%, as some predict, it would amount to the biggest default in history."
Printer-friendly format
Email this thread to a friend
Bookmark this thread
(1000+ posts)
Send PM |
Profile |
Ignore
