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You really think we would let the Iraqis do this? You don't think there was a side deal with China and the US? Who buys our treasuries, and thus, finances our military? Some things can't be spoken of publicly by our politicians. Think about it. We get China to finance the war, this...

There's a reason the US runs trade deficits, it has to: http://en.wikipedia.org/wiki/Triffin_dilemma The question is, now that the world has grown and diversified post communism, how much longer will the rest of the world want a US $ int'l paper standard? How much longer can the US $...

Faber has worked in Wall Street and witnessed Asia's ascension onto the world stage over 30 yrs ago. He graduated with a Phd in Economics in Switzerland, worked in Wall Street in NYC, then to Hong Kong when few others would want to go. He witnessed firsthand the historical economic rise of...

Just like Scataphagos said - it's basically anyone's guess. Defaulting Pensions is just one otcome. Here are some other possible outcomes: 1)The Fed steps in a bails out Pensions - but you have to ask yourself, what will the dollar be worth? How bad will Pensions' asset valuations get...

Your 60.5% of GDP is meaningless. Why did you exclude intragovernmental holdings? Does that debt not exist? Are you a politician?

Either we pay the debt down before interest costs engulf a crippling percent of tax revenues (meaning less money for SS, Medicare, or defense), or we default. On interest costs: http://money.cnn.com/2009/11/19/news/economy/debt_interest/index.htm Those are the only two options we have...

If you haven't noticed - those contained the word "est." which means estimate. Obama also included the Iraq and Afghanistan war costs - something Bush kept off the books. Thus, just US national debt alone - no GSEs included, today is over 13 TRILLION. http://www.usdebtclock.org/...

Public debt is already well over 100% of gdp. Don't forget, more so than any other country in the world, the US has a HUGE municipal, county, and state bond market. Also don't forget the GSE debts. Fannie and Freddie are not counted, yet we are on the hook. From Jesse's Cafe Amercain...

They say that local gov'ts are excessive and corrupt in the blue states - and as a resident of NJ, I would agree with that. But looks like a great many red states have their own gravy train: Greece's bloated public sector employs the same share of the workforce -- 14.1% -- as America's...

The west lost those jobs, and in return, was able to keep employment high by increasing the financial sector - the FIRE Economy (Finance, Insurance, Real Estate) Well guess what? Those FIRE jobs to a large extent were part of the debt casino. All a ponzi facade. Want me to prove it? Ask...

From the article: Foxconn will boost monthly pay for most plant workers to 2,000 yuan ($293) from 1,200 yuan effective Oct. 1, the Taipei- based company said in an e-mailed statement late yesterday. Foxconn, also known as Hon Hai Group, on June 2 raised base pay from 900 yuan, effective...

I too believe in peak oil. But it's difficult to asses the future price of a barrel of oil without knowing what the value of currencies is in that same time period. If you believe in strong inflation, then yes, $500 a barrel is not too extreme because it's not $500 in today's dollars...

The economy will never be re-invigorated until the bad debt is flushed... we need massive deleveraging. Yes, we are successfully staving off a necessary depression but guess what? We will instead experience a monetary and economic collapse down the road. Tax cuts, stimulus, trade...

Very interesting recent interview of Felix Zulauf: http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/5/28_Felix_Zulauf.html I highly recommend it - it's only about 19 minutes long.

Most people still don't get it. They're using 1999 analysis to predict the future. The times have changed. Fannie and Freddie are zombies. FNMA has a stock price of just under a dollar and an EPS of -$11.31!!!! If they were allowed to fail, and ultimately they will, what does that mean...

I'll play devil's advocate. There was a time that a BA, in whatever field, was useful for most people - not as much today. Subject matter was not as important as the skills gained. That is, reading critically, and writing effectively. I have known many successful individuals with...

Can you rephrase? You're not making sense.

Excuse me, who destroyed us? Don't you get it yet? Irredeemable fiat currency require a ponzi system to survive. It's over. The only reason you and I pay our mortgage is because it's in our best interest to keep the ponzi game going. I think those that are critical of defaulters are...

Did I say anything about zombies? Why do people automatically conclude it's mad max or status quo, but nothing in between?

I have a crazy feeling that in 7 years, one's credit score will be the least of one's worries.