Wake up and smell the coffee, America!
Boston University Economics Professor Laurence Kotlikoff is sounding the alarm, along with virtually the entire economics community (including 15 Nobel Prize winners!)
Get Congress to pass the Inform Act in an attempt to wake up the nation to our dire financial situation.
"The country is in worse fiscal shape by many miles than Detroit. So, the country is essentially bankrupt," say Dr. Kotlikoff, who believes, "the country needs to do honest accounting" and stop "disguising the true problem."
Estimating our long-term debt and liabilities at more than $200 trillion, Dr. Kotlikoff compares the Inform Act to:
"The economist profession sending the equivalent of the letter Einstein sent to Roosevelt warning of the nuclear threat from Germany coming up with the nuclear bomb. Never in the history of this country have this many top economists from all political persuasions endorsed a piece of legislation like this."Why?
Because never in the history of this country have the people been more deceived in terms of our true financial condition.
"The government is printing mountains of money to pay its bills," says Kotlikoff. "Eventually...this is going to crash."
Dr. Kotlikoff on Greg Hunter's USA Watchdog
Though the Scriptures don't spell it out, there are enough to indicate some major financial headwinds:
"Look here, you rich people, weep and groan with anguish because of all the terrible troubles ahead of you. Your wealth is rotting away and your fine clothes are moth-eaten rags. Your gold and silver have become worthless. The very wealth you were counting on will eat away your flesh in hell. This treasure you have accumulated will stand as evidence against you in the last days." -- James 5
link to "does the bible predict economic collapse?"
A wise man once said: "While the 'experts' want us to believe that all is well (or soon will be), nothing could be further from the truth. The world wide financial crisis of 2008 and 2009 was just a sneak preview of what is to come." -- David Wiedemer, PhD
- The Guardian: Detroit granted bankruptcy protection after judge rejects attempt by pension funds and unions to have the action thrown out.
- The Wall Street Journal: Indebted governments may soon consider a big, one-time wealth tax on capital assets.