From the Great Depression, we remember the bread lines. From the oil shocks of the 1970s, we recall lines of cars snaking from gas stations. And from our current moment, we may come to remember scenes like the one at a Long Island Wal-Mart in the dawn after Thanksgiving, when 2,000 frantic shoppers trampled to [...]
We only have 300 million consumers that will probably be cutting back in spending for a decade or more as they move away from debt spending to saving and paying down debt. It takes years for the savings to build up to a point they feel like spending instead of saving.
During the depression there [...]
According to Ron Paul, a member of the house banking committee, we owe China about 2 & 1/2 trillion American dollars.
China gets American dollars when they sell us stuff made in China. Instead of sitting on the dollars they buy American interest bearing Treasury Bills & Treasury Bonds, which would have different maturity dates. These [...]
The US Secretary of the Treasury has informed the China Development Bank that the US has shipped $800 Billion of a new currency called the Amero, which is to be based upon the merging of the economies of The United States, Mexico and Canada into what is termed as The North American Union.
The current American debt obligation [...]
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