US Economic Collapse, Not If, When!

• Since September 1, 2008, the monetary base has ballooned from $908 billion to $2.0 trillion. The current monetary base is now equal to bailing out General Motors 23 times.

• Bailout funds in 2008 and 2009 total $8.1 trillion. That’s almost 78 WorldComs. It’s over 123 Enrons.

• US debt has risen sharply, from $6.2 trillion in 2002 to $12.1 trillion today. That’s over $39,000 per citizen.

• David Walker, the comptroller general of the Government Accountability Office from 1998-2008, warned that the US is on the hook for $60 trillion in unfunded liabilities. Independent analysts peg the figure at near twice that. Whatever the number, it is incomprehensibly large. The only way we will meet these liabilities is to print the money and inflate them away.

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"It is well enough that the people of the nation do not understand our banking and monetary system for, if they did, I believe there would be a revolution before tomorrow morning."

— Henry Ford

"Fiscally, we are in
uncharted territory."

— Warren Buffett,
August 19, 2009

"The U.S. has no way of avoiding a financial Armageddon..."

— John Williams, ShadowStats.com

"The alarm bells on our nation's fiscal condition have now become a siren."

— Sen. Mitch McConnell,
(R-KY)

"Things will get worse gradually... unless they get worse quickly."

— Alan Auerbach,
Univ. of Calif. Economist
(R-KY)

 

"No one can know the precise level of net debt... at which the United States will lose its reputation... but a few more years like this one and we will find out."

— Warren Buffett

 

"When you can't service your debt, you're finished."

— Paul O'Neill, former U.S. Treasury Secretary

 

"We can't afford to pay all these bills and if we just pay them by printing money, it will destroy the currency..."

— Dr. Ron Paul, Congressman, TX