The Federal Reserve and the U.S. Treasury are cooking the books! Read between the lines in this Wall Street Journal article: Is Foreign Demand as Solid as It Looks? (Thanks to GG for the link.) Once a nation’s treasury starts “creative accounting” and debt monetization, then the handwriting is on the wall. The death spiral for the US Dollar has already begun. It just won’t be obvious to everyone for another 6 to 12 months. That is when mass currency inflation will likely begin, and once it does, barring a miracle, there will be nothing that can stop it.
F.G. sent this alarming news from England: Benefit payouts will exceed income tax revenue.
And some equally alarming news on this side of the pond: U.S.’s debtor status worsens dramatically. (Thanks to GG for the link.)
Also from GG: Why stagflation is coming
Items from The Economatrix:
Obama Calls For Cuts in Medicare and Medicaid “It is becoming increasingly clear that the essence of the administration’s health care policy, under the guise of universal coverage, is a downgrading of care for the majority of the population so as to cut health care costs for business and the government.”
Celente: Cap and Trade and Other Handicaps to US Economy
Home Prices Down 18.1% On Year in April
Celente: Obamageddon – 2012 “The “green shoots” sighted by Field Marshall Bernanke this past Spring were a mirage. The 2010 economic “recovery” predicted by the same experts, authorities and financial boy scouts and cheerleaders who didn’t see the economic crisis coming is pure delusion. By 2012, even those in denial and still clinging to hope will be forced to face the truth. It will be called “Obamageddon” in America. The rest of the world will call it “The Greatest Depression.”
Dr. Housing Bubble 6/29/09: The Continued Crony Banking and Housing Industry Bailout: Foreclosure Scams, Japan Subprime Loans Coming Back, and Generally Bad Advice for American Consumers
What China’s Push For an Alternative World Reserve Currency Means
Up, Down, Out, and Doomed (The Mogambo Guru)