Tag Archives: OMB

Neither the White House nor the CBO have adequately considered the real impact of the very deficits they themselves are projecting. While they admit the deficits will be off the charts they fail to connect the dots from that admission to its obvious natural consequences — no fewer than FIVE ominous, vicious cycles.

It now seems like the U.S. might be getting closer to acknowledging that it has a serious fiscal problem; or at least this is what one might infer from the strong support from Congressmen and Senators from both sides of the aisle, thousands of business leaders and economists from all stripes, as well as from fifteen Nobel Laureates in Economics, for a new bill called the Intergenerational Financial Obligations Reform Act or “Inform Act” - in spite of the fact that the proposal is being totally ignored by the mainstream media and, as evidenced by the case of Detroit, the longer we wait, the worse it gets.

Increases in spending and liabilities along with decreases in foreign lending equals a recipe for disaster. So, where will the money come from? This is a job for the printing press. While we are certainly facing deflation in the near term and a very choppy market, the groundwork has been laid for hyperinflation, soaring interest rates and exploding gold and silver prices. Words: 945