Letter Re: Harry Figgie Was Right — Just Very Early
Mr. Rawles, I pulled out my copy of Bankruptcy 1995: The Coming Collapse of America and How to Stop It by Harry E. Figgie, Jr. and discovered on pp. 85-87 three warning signs that the US is headed for what Mr. Figgie calls a “deep, deep depression.” They are: Tax revenue is no longer sufficient to service the debt; Substantial government debt is purchased by the Federal Reserve; and Congress and the administration not only fail to address mounting deficits but make the situation worse. The book is copyrighted 1992. It would appear Mr. Figgie …