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Trillions Of Troubles Ahead
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Add the unfunded portion of entitlement programs and we're at 840% of GDP.

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The world has not seen such debt levels in modern history. This debt is not serviceable. Imagine that total debt is 557% of GDP, without considering entitlements. The interest on the debt will consume all the tax revenues of the country in the not-too-distant future. Then there will be no way out but to create more debt in order to finance the old debt.

It assures a period of economic devastation. In a last, desperate attempt, politicians at the federal and local levels will raise taxes to astronomical heights to raise revenues. And that only assures destruction of the economy. Forget the fable of economic recovery. Unless there is a change in Washington by next year's election, there will be no way to turn back.

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Japan's recession is now 19 years old. It has the highest debt-to-GDP level (227%) of any industrialized country. The Fitch rating agency is talking about a potential downgrade of Japan's debt. Japan's stock market is still down 75% from the high in 1990. We predict it will make new bear market lows next year. That will make it a 20-year-long bear market on the way to 25 years. The bulls in the U.S. should consider that possibility in the formerly great United States of America.

I do not believe the bullish theory that the U.S. situation is different than Japan's. Ours is so much worse.

Is it any wonder that our biggest creditors, China, Russia and the Middle East, are diversifying out of the dollar and into gold?

... not sure if America wants to raise taxes ...
... the grand part of the population lacks the maturity of understanding "usury" ...
... of a class of parasite bankers that "own" the US government trough lobbies ...

... the same way the grand part of the population lacks the maturity of understanding taxation ...
... and the relation of protected financial speculation "against" the people ...
... generated by a private central bank system ...
... where taxes barely pay for the interest to the vultures of the banks ...

... my personal opinion is that socialism is a failed system ...
... however at this point a euro-like socialized system would be better ...
... than the current scumbag-klepto-nazi-capitalism of wall street ...

... the ideal solution however would be a complete change of economic units of count ...
... based on direct planetary impact, or "objective" value ...
... and a technocracy replacing the current kleptocracy ...

... however this is not an option ...
... you can only chose from left-puppets or right-puppets ...
... but not discuss the kleptocrats puppetmasters ...
... they are the "gang" of the ruling families of America ...
... the US Tzars in the mirror ...