And the feds are printing $40 Billion per month ( QE3) just to keep our faux economy alive.
They can't keep printing money to keep their social programs going forever.
What they're going to do about all those dependent people when the money runs out is the most frightening part. The parasites will be demanding their "entitlements", but there won't be any.
Even more frightening, the "scientists" at the UN have been screaming for population reduction. An economic collapse would do just that. So, don't expect the pro-UN politicians to try to fix it - or stop it.
The UN is in New York City ... in an economic collapse, that would be zombieland. Even after the recent hurricane and following nor'easter, I think folks don't really understand how desperately fragile cities are.
Actually, when you think about it, they can keep printing money forever. Well, at least as long as there’s an electrical supply to power the printing presses.
Heck, look at Japan: debt-to-GDP ratio of 233%. They just keep cranking out yen, and pretty much no end in sight. They have to keep their social welfare systems going to care of their increasingly elderly population (demographic implosion).
Simply put, as long as the politicians decide to keep the printing presses going, they’ll crank out the dollars. It’ll debase the currency, to be sure, through devaluation, but as long as the politicians choose to keep printing the greenbacks, they will.
And besides, according to John of Orange Hue, (Boehner), it’s time to “fall into line” and get things done. That’s politics for you.
The Fed is printing $85 Billion a month, 40 Billion to buy Mortgage Backed Securities and $45 Billion to buy US Treasury Bonds (US debt to keep the dream alive).