Relevant:
- America's True Crisis
- Rickards: The new balance of financial terror (analysis of sanctions against Russia)
- Japan's Credit Rating Cut First Time in 9 Years; S&P Cites "Lack of Coherent Strategy to Address Debt
- Can the U.S. support two lost decades? Japan asset bubble collapse solutions exported to the United States
- United States Joint Forces Command Warns that Huge U.S. Debt Might Lead to Military Impotence, Default or Revolution
2008-11-28 — blogspot.com
... the US cannot perform a similar IMF bailout on itself, as it is currently attempting to do. The United States IS the IMF. Astronomical guarantees and bad-asset purchases merely transfer and spread out the problem internally, instead of solving it. There is simply way too much debt; too much dead wood, too much turpentine and, naturally, no one else wants it in his back yard. Just think of China, Japan, the Gulf States or Russia and how much US debt they have already piled up. How much more "firehouse debt" are they willing to accept, particularly when the flames are already licking their own houses?
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