PREDICTED IN 2008 Forbes article about what could happen if the government doesn’t curb its spending: “The earthquake will come via a collapse in the market for U.S. government bonds as domestic and foreign investors realize that the only way Uncle Sam can meet his future spending obligations is to print massive quantities of money.” “The result will be sky-high inflation and interest rates and, most surely, a prolonged reduction in output and employment. This could happen today. It could happen tomorrow. But it will happen here just as it has happened in every other country that tried to spend far beyond its ability to pay.”~Boston economists Laurence Kotlikoff and Scott Burns u
Posted on: Thu, 15 Aug 2013 01:39:03 +0000
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