Saturday, January 14, 2012

Doug Casey Sums It Up: The US Is Bankrupt

14 January 2012

What is the economic state of the US?

Bankrupt.

Doug Casey calls our present situation the "Greater Depression."

Click here for Doug's blunt take on our present predicament.
As usual, Doug has summed it up.

NOTE: Henry Blodget is now voicing second thoughts about Paul Krugman's "don't worry about the debt" argument, as well he should in my opinion. In addition to Blodget's four points, there is a fifth - our demographics are the inverse of the post WWII period (as Mr. Casey well explains). In brief, we should be very worried about the debt, as there is no ballooning younger generation to whom to hand it..... (though I also believe that robots will start to solve many of our economic problems - as well as create a host of new ones - as soon as the present decade). Click here for Mr. Blodget's opinion piece.
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