Friday, 13 February 2009

Marc Faber "US will default on debt or enter hyperinflation"


(2:43)

There is no escaping the fact that the US economy is severely overburdened with debt. That the consumer economy is failing at present means a diminished ability to cover the interest on the credt here. The US goverment, to cover their spending/stimulus, borrows or prints even more money. It's a cycle feeding upon itself.

[Posted at the SpookyWeather blog, February 13th, 2009.]

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