It is very clear that we are approaching a national debt crisis. This chart [1] from the St. Louis Fed illustrates America’s tale of woe. Once interest rates start to rise–and inevitably they must and will–then the whole charade will abruptly end. We will suffer a debt crisis far more horrendous than what we witnessed in 2008. No nation can survive a sustained debt level greater than 100% of GDP for and extended time without a crisis.
Some interesting reading over at The Daily Bell: Chris Becker’s Austrian Perspective on South Africa, Gold and the Ludwig von Mises Institute [2]
Jim Rogers: The Gold Correction Is Not Over [3]
U.S. Civil Charges Against Corzine Are Seen as Near [4]
Items from The Economatrix:
The Trigger Has Been Pulled And The Slaughter Of The Bonds Has Begun [5]
Not Prepared: 17 Signs That Most Americans Will Be Wiped Out By The Coming Economic Collapse [6]