World Economy

Massive Default Is Best Way to Fix the Economy

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You want to fix this economic crisis? You want to put people back to work? You want to light a fire under the economy? There’s a way to do it. Fast. And relatively simple. But you’re not going to like it. You’re not going to like it at all. Default. A national Chapter 11 bankruptcy. The fastest way to fix this mess is to see tens of millions of homeowners default on their mortgages and other debts, and millions more file for bankruptcy. I told you that you wouldn’t like it. I don’t like it much either. It sticks in … Read more

The New World Order

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Most Americans are too distracted to recognize that the New Global Order (the Order) has emerged. It is safe to say that the USA will most likely continue to be a main player in the Order. But, right alongside it will be China, Russia, India, Turkey, Japan, South Korea and Brazil. It is now unclear if the EU with Germany carrying the whole weight, will be able to play. Alone, Germany would be a Key player IMO. Washington, no matter what it does will not be able to stop this transformation. US politicians, however, will continue to bluster that the … Read more