Saturday, November 8, 2008

Chronicles Of Depression 2.0: #374: Bankuptcy 1

Swiss Finance Guru sees bankruptcy for the U.S
US economists have come to the conclusion from the trends that there will be a US state bankruptcy.

swissinfo: Do you share that view?

M.F.: One hundred per cent.
The US government will in future have new debts of at least $1,000 billion (SFr1,165 billion). That's on top of the current state debt of $10,000 billion. And that doesn't take into account state programmes to stimulate the economy. The government will have no other choice than to print money, which in the long term will lead to inflation.

Emphasis added by me.

Go read the post itself. He contradicts himself at least once, possibly twice.

Note the title of this post: Bankuptcy 1. Because I expect it to become a series within this series.

To see real-world hyperinflation: Chronicles Of Depression 2.0: #373: Zimbabwe

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