United States Defaulted Long Ago, Approaching Final Collapse of our Credit Expansion Boom

Interest-Rates / US Debt Jul 30, 2011 - 07:18 AM
By: James_Quinn

“There is no means of avoiding a final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion or later as a final and total catastrophe of the currency system involved.â€