| Taking debt, and unavoidable commitments to medical care and social security into account, the US is between 50 and 80 trillion dollars in the shitter. It's only hanging on because it's been fudging the figures and because its not hanging on is going to royally fuck everyone but the day of reckoning can't be too far away. After all, the only way for this much debt to be serviced is for vastly greater levels of debt to be raised, a process which is sooner or later is going to end in tears, particularly when you consider that the requirements of an ever-expanding economy to service ever-expanding debt is very shortly going to run into the brick wall of peak oil and resource depletion. How's it all going to happen? Fuck knows but the powers that be have shown their willingness to print money on demand in an effort to keep the show on the road so inflation has got to be a serious possibility. I'm investing in wheelbarrows. |