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The Entire Economy Is a Ponzi Scheme. The Global Financial System is Insolvent

Bill Gross, Nouriel Roubini, Laurence Kotlikoff, Steve Keen, Michel Chossudovsky, the Wall Street Journal and many others say that our entire economy is a Ponzi scheme.

Former Reagan budget director David Stockton just agreed.

So did a top Russian con artist and mathematician.

Even the New York Times’ business page asked, “Was [the] whole economy a Ponzi scheme?

In fact – as we’ve noted for 4 years (and here and here) – the banking system is entirely insolvent. And so are most countries.

The whole notion of one country bailing out another country is a farce at this point. The whole system is insolvent.

Read more http://www.globalresearch.ca/the-entire-economy-is-a-ponzi-s...



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But solvent related to what?

If one country was "solvent" then there would be a yard stick to measure. Currency conversion would give us all information we need to know. But today, FIAT central banks work together. For example, Fabian UK and government-regulated Japan do not want to see USA economy going under. That will devastate them since Russia and China might pose a a threat via embargos, tariffs, direct military action, etc. Those countries do not have their own natural resources to survive on present level of well being.

$16.6T debt cannot be repaid if you know how many actual paper bills are in circulation. The countries will work out a deal to preserve FIAT and cancel the debt. Food storage may be consumed safely if expiration date is not missed.

Read David Stockman's Book: The Great Deformation!

This is now #4 on the NYT bestseller list for non-fiction. This book is helping to get the word out in a big way and he is a strong supporter of Ron Paul.

Oyez

Well

...at least that is over and done with lol

I have noticed that many malls are almost empty since the inception of all those outlet type stores lining the roads.

The malls can be converted into some useful things. But all those stores out in the middle of nowhere who is going to pick up the tab for those? ie they will eventually have to be bulldozed imo.

What a complete waste. Even though they are chain stores. The money needed to pay off those stores will barely or if it all be paid back I think.

Meanwhile the utilities and upkeep for those malls must be off the charts imo.

donvino

Generally buldozed to avoid taxes.

Government planners got everybody drunk, no one was watching the bottom line.

Buldozing buildings, breaking windows its all good to a Keynesian.

Not so good for an economy.

Free includes debt-free!

Agreed

Or abandoned not to pay the tax.

I don't think they are too well insulated and have flat roofs. I do not see much value in them after the windows will be removed.

donvino

Clarke and Dawes

http://www.youtube.com/watch?v=I5QwKEwo4Bc

Free includes debt-free!

Hitler Bails Out Cyprus

Imagine you woke up today and found 7% of your money gone and given to bondholders. One day you might. Hitler just has...

http://www.youtube.com/watch?v=K5R2JyU_MKg&feature=player_em...

"Give a man a gun, and he could rob a bank. Give a man a bank, and he could rob the world."