The derivatives market may be better reserved for a fairy tale. Comprising a value worth more than a decade of the world’s productivity, the derivatives market is the sleeping giant of all asset bubbles. As you dig deeper into the financial underworld, you’ll find that this sleeping giant may just be the puppet [...]
Three numbers say it all:
$14 trillion (which is GDP)
$11.3 trillion (which is the current national debt),
$3 trillion (which is how much MORE national debt will accrue this year alone)
Well, maybe four if you include the already-announced eye-popping $1.84 trillion in budget deficits and five, another trillion or so in “surprise!” emergency supplemental appropriations as [...]
Who’s the biggest borrower today?
The United States of America. At 12% of GDP, its deficit is more than twice as large as that of France. It already owes Japan and China as much as Germany owed its former enemies in reparations – adjusted to today’s money.
While the private sector during the bubble years brought U.S. [...]
“History doesn’t repeat itself, but it does rhyme.” – Mark Twain
What are we going to do about all the debt?
We have a lot of it, the only way to pay it back is to lower the value of the dollar – a devalued dollar means loss of purchasing power, which means inflation…which means you need [...]
The Boston Herald got it wrong.
http://www.bostonherald.com/business/general/view.bg?articleid=1163846&format=comments#CommentsArea
The Hunt Brothers were just thirty years too early. Humans have been experimenting with fiat currencies for centuries. Every instance has ended badly.
Most of these periods of un-backed currency failed in 30-40 years.
That we still call the Hunt Brothers ‘fanatics’ is testament to the power of propaganda and its self-fulfilling [...]
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