[EDITOR'S NOTE] The political shoe for America has already fallen and bloodless (So far!) civil war between the Left Socialism and Right Capitalism has divided the country into warring factions for a 21st century repeat performance of the 20th century's great wars of ideology.
The next shoe to fall will be the economic one that threatens to throw the USA and the entire world back into the worst days of the Great Depression of the 1930s, as the house of economic cards made in America and built on absurd government interventions and clever Wall Street Ponzi schemes threatens to come falling down at any minute.
EXCELLENT ANAYLYSIS IN ASIA TIMES OF THE COMING ECONOMIC CRACK OF DOOM BY SPENGLER:
Post-Apocalyptic zombie finance
By Spengler
By 2014, International Monetary Fund official John Lipsky remarked March 21, the debt-to-gross domestic product (GDP) ratio of the Group of Seven countries will reach 100%, and the governments of the industrial world will carry the highest debt burden since shortly after the end of World War II.
That is bad news; worse news is that governments are shoveling money into the world banking system to finance the debt expansion. Following the great bank bailout of 2008, the global banking system is socialized de facto, shifting its resources towards government debt and away from private sector financing.
Governments averted a financial apocalypse in 2009 by bailing out the bankrupt banking system. But who will bail out the governments? The answer for the time being is that they will bail themselves out at the expense of the private economy.
THE COMPLETE ARTICLE AT ASIA TIMES
The next shoe to fall will be the economic one that threatens to throw the USA and the entire world back into the worst days of the Great Depression of the 1930s, as the house of economic cards made in America and built on absurd government interventions and clever Wall Street Ponzi schemes threatens to come falling down at any minute.
EXCELLENT ANAYLYSIS IN ASIA TIMES OF THE COMING ECONOMIC CRACK OF DOOM BY SPENGLER:
Post-Apocalyptic zombie finance
By Spengler
By 2014, International Monetary Fund official John Lipsky remarked March 21, the debt-to-gross domestic product (GDP) ratio of the Group of Seven countries will reach 100%, and the governments of the industrial world will carry the highest debt burden since shortly after the end of World War II.
That is bad news; worse news is that governments are shoveling money into the world banking system to finance the debt expansion. Following the great bank bailout of 2008, the global banking system is socialized de facto, shifting its resources towards government debt and away from private sector financing.
Governments averted a financial apocalypse in 2009 by bailing out the bankrupt banking system. But who will bail out the governments? The answer for the time being is that they will bail themselves out at the expense of the private economy.
THE COMPLETE ARTICLE AT ASIA TIMES
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