And to ALL the Debt-Enslaved Nations of the World ~ You Are All About to Be Fleeced Once Again!
Look out, Ireland! Financial debt-bergs, dead ahead! The Irish “external debt to GDP” ratio is currently at 609%. In December 2010, it was well over 1,000% (1,091.5% to be precise). No other nation on Earth carries this much external debt to its GDP. The United States, the world champion of all debts for sure with... Read More
There's no doubt that the Coronavirus is a serious infection that can lead to severe illness or death. There's also no doubt that 'virus hysteria' has been used for other purposes. Wall Street, for example, has used virus-panic to advance its own agenda and get another round of trillion dollar bailouts. In fact, it took... Read More
With a national debt approaching $23 trillion and a trillion dollar deficit for this year alone, Congress last week decided to double down on suicidal spending, passing a two year budget that has the United States careening toward catastrophe. While we cannot say precisely when the economic crash will occur, we do know that it... Read More
Today’s War-Financing Strategies Will Only Increase Inequality
In the name of the fight against terrorism, the United States is currently waging “credit-card wars” in Afghanistan, Iraq, Syria, and elsewhere. Never before has this country relied so heavily on deficit spending to pay for its conflicts. The consequences are expected to be ruinous for the long-term fiscal health of the U.S., but they... Read More
Introduction to the German Edition
In theory, the global financial system is supposed to help every country gain. Mainstream teaching of international finance, trade and “foreign aid” (defined simply as any government credit) depicts an almost utopian system uplifting all countries, not stripping their assets and imposing austerity. The reality since World War I is that the United States has... Read More
Former White House Chief of Staff Rahm Emanuel famously counseled politicians to never let a crisis go to waste. Sadly, this week President Trump and congressional leaders of both parties showed that they have taken this advice to heart when they attached a debt ceiling increase and an extension of government spending to the over... Read More
President Barack Obama’s luck in foreign policy seems to be even worse than in domestic policy. As the Syrian civil war intensified last year, he wanted to intervene but was promptly cut off at the knees by the international community. As the Ukrainian crisis has unfolded more recently, his impotence has again been on display.... Read More
With all eyes and all headlines fixed so intently upon Boston’s two Caucasian Bombers, hardly anyone has been paying attention to revelations of a far more devastating disaster that unfolded close nearby, but which were generally buried on the inside pages of our major newspapers. I refer, of course, to the Harvard Spreadsheet Glitch, the... Read More
Brace for impact!
Thus Vox Day in his recent book The Return of the Great Depression. Are things really that bad? And going to get that much worse? I'm betting that they are. That's a novice bet, as I am not a trained economist. I base it on a complete lack of seriousness among our political classes. It... Read More