Yeah, $17 trillion in “official” government debt and more than $100 trillion in unfunded liabilities. Fed is pumping $85 billion a month into the economy, and that new money is backed by....the full faith and credit of the U.S. government.
Clearly, the fundamentals are in place for a full-scale economic collapse. Thirty years from now, we’ll look back on this time as an economic moment akin to the lookout on the Titanic yelling “iceberg.”
It was too late then, and it’s too late now.
I agree with you. As the day wears on, the talking heads on CNBC are becoming less reassuring. So far (as I sit in my paid for home which I can still afford to heat) I'm pretty removed from all the pain, but I know it won't be long until pain comes knocking on my front door.