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US Debt becomes unpayable in a just a
few years.
American situation hardly better than the
European
US
Chief accountant Comptroller
General of the United States David WALKER
tells us the Truth in this YouTube : 400.000 US$ public dept per
average American
household
US
Chief accountant David
WALKER telling us the Truth :
400.000 US$ public dept per average American household are unaccounted.
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 The onrushing
financial collapse and
national bankruptcy of the United States is receiving ample coverage.
Including unmistakable warnings from many former senior government
officials and central bankers as well as from the very institutions
that are presently in charge, such as the International Monetary Fund,
the Bank of International Settlements or the US Federal Reserve.
The
financial problem
is however
of a global nature. It seems unknown to most, that in
fact the majority of the
Western 'developed' world and not just the United States is facing
national bankruptcy shortly ahead. The Euro and the
British Pound are not inherently 'hard' and healthy currencies. This
has been predicted
by the world's leading rating agency, Standard &
Poor's.
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Moody's confirm : Social security may pressure US ratings in
long term
The US' ratings might be pressured in the very long term if medicare
and social security reforms are not carried out, Moody's
Investors Service cautioned, adding that subprime risks do not affect
the government's rating.
'In the very long term... these two programs are the largest threats to
the long-term financial health of the US and to the government's 'Aaa'
rating,' said Moody's vice president Steven Hess .
Read
the article at Forbes here |
Dr. Ben S. Bernanke submitted the
following in response to written questions received fromSenator Bunning
in connection with the hearing before the Committee on Banking,
Housing, and Urban Affairs on November 15, 2005
Q.7. It is my understanding the Federal Reserve has decided to halt
disclosure to the public of its M3 findings and report. The findings of
the M3 report provide pertinent information to the public--from
economists to investors and to industries which all use M3 report
findings for economic forecasting, investing, and business decisions.
You have advocated a “more open” Federal Reserve under your command.
Will you work to reverse this policy and commit to keeping the M3
report and its findings available and open to the public? What is the
rationale and reasoning by the Federal Reserve to keep the M3’s
information from the public?
A.7. My understanding is that the Federal Reserve decided to
discontinue publication of the monetary aggregate M3 because the costs
of collecting and processing the underlying data were judged to exceed
the benefits. The Federal Reserve will not withhold the M3 data from
the public; rather, it will no longer collect and assemble that
information. The Federal Reserve will continue to collect data for and
publish the monetary aggregates M1 and M2 and their components.
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The famous TV
Series on free Market Economics
by Nobel Prize laureate Milton Friedman
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 In
this great
series Milton Friedman
explains his inspiring
ideas
on liberty, on free market economics, on limited government,
limited public spending and low taxes. The TV series
is a complement to his masterpiece book of the same name
co-authored with
his economist wife, Rose Friedman. The series
includes debates
with dissenting economists. It’s a fantastic lesson in forensics,
very
instructive, and a lasting source of inspiration. Comments by Arnold
Schwarzenegger, Ronald Reagan, George Schultz, David
Friedman and many others.
The
Power of
Choice
the
full TV
Series free online
here: |
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