SCROLL DOWN FOR NEWS LINKS: British think tanks believe that America is headed for a financial collapse. Tell us something we don’t already know. According to an IEA report the: At present the U.S. government owes debtors, both private and public, foreign and domestic, more than $17 trillion, an amount about equal to the entire output of the American economy in one year. Put another way, it owes more than four times the total revenues taken in by that government in one year. Philip Booth, IEA’s program director, wrote: “We have never been in a situation like this before. It’s quite possible that we will not find our way through without serious social breakdown and/or mass emigration of the most mobile and productive people”. Why are we surprise by all of this? It is just a matter of time before the ship begins to sink.
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