Countdown to Financial Armageddon
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Countdown to Financial Armageddon
Tracking the final days of the debt bubble
Curated by Nick Laight
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$120 trillion: The shocking true size of our nation's debt

$120 trillion: The shocking true size of our nation's debt | Countdown to Financial Armageddon | Scoop.it
The Congressional Budget Office released a new report this week showing that the federal government’s publicly held debt would top 101% of GDP by 2021, more than the value of everything produced in...
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European leaders prepare for a Greek default - Telegraph

European leaders prepare for a Greek default - Telegraph | Countdown to Financial Armageddon | Scoop.it
European leaders have admitted they are preparing for a Greek default as the eurozone debt crisis enters a pivotal week.
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The Divergent Paths of Growth and Human Progress

The Divergent Paths of Growth and Human Progress | Countdown to Financial Armageddon | Scoop.it
The one thing this market has not fully reckoned with is the Great Correction. All this ‘recovery’ talk has masked the real, underlying trend. That is this: we’re correcting 60 years’ worth of credit expansion. How far? How much? How fast? We don’t know…but
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USA Financial Terrorism: World War 3 & U.S. Dollar Collapse!!!

What a magnificent rant! Even if 5% of what he says is true, it's time to get worried
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"Growing Your Way Out of Debt" Is a Fantasy

"Growing Your Way Out of Debt" Is a Fantasy | Countdown to Financial Armageddon | Scoop.it
The Status Quo consensus is that "kicking the can down the road" a.k.a. "extend and pretend" will work because "Greece, Spain, Ireland et al. are going to "grow their way out of debt." That is a fantasy.

Here's why . . .
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UK banks abandon eurozone over Greek default fears - Telegraph

UK banks abandon eurozone over Greek default fears - Telegraph | Countdown to Financial Armageddon | Scoop.it
UK banks have pulled billions of pounds of funding from the eurozone as fears grow about the impact of a “Lehman-style” event connected to a Greek default.
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Fed Forecast: FOMC will not raise interest rates but might consider implementing QE3

Fed Forecast: FOMC will not raise interest rates but might consider implementing QE3 | Countdown to Financial Armageddon | Scoop.it
We should not expect an interest rate hike during the upcoming FOMC meeting , as all of the analysts polled for this FED Forecast Special Report agree.
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Default Nation

Default Nation | Countdown to Financial Armageddon | Scoop.it
David Streitfeld reports for The New York Times, In New York State, it would take lenders 62 years at their current pace, the longest time frame in the nation, to repossess the 213,000 houses now in severe default or foreclosure, according to...
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Shame Of America: Desperate Man Robs Store For One Dollar In Order To Go To Jail To Get Health Coverage

Shame Of America: Desperate Man Robs Store For One Dollar In Order To Go To Jail To Get Health Coverage | Countdown to Financial Armageddon | Scoop.it
James Richard Verone of North Carolina spent his whole life playing by the rules and staying out of trouble. Having worked as a delivery man for Coca Cola for 17 years, Verone was known as a hard worker and honest man.
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U.S. National Debt Clock : Real Time

US Unfunded Liabilities are $114 TRILLION . . . and rising . . .
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The Golden Truth: U.S. Government Totalitarian Creep Continues Plus QE3 All But Assured

The Golden Truth: U.S. Government Totalitarian Creep Continues Plus QE3 All But Assured | Countdown to Financial Armageddon | Scoop.it
It's getting very "spooky" out there in the markets and based on the way that gold and silver have been performing recently, I believe that large flows of very smart capital around the world are beginning to view gold and silver as the last port in the face of a very serious in-coming financial tsunami...
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GoldSilver.com - Warnings Of A Great Depression or Hyperinflation: Bob Chapman

GoldSilver.com - Warnings Of A Great Depression or Hyperinflation: Bob Chapman | Countdown to Financial Armageddon | Scoop.it
A run is starting on your retirement, hardship compounding the problems of retirees, we may be going into hyperinflation or deflationary depression,...
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Sometimes it's good to default

Sometimes it's good to default | Countdown to Financial Armageddon | Scoop.it
Some countries benefit from defaulting on their debtIN THEORY, fears about the economic damage wrought by a sovereign default should play a big role in disciplining countries considering repudiating their debts.
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Central Bankruptcy: Why QE3 is Inevitable

Central Bankruptcy: Why QE3 is Inevitable | Countdown to Financial Armageddon | Scoop.it
There are many political and economic reasons why the Fed will find it extremely difficult to absorb the liquidity that it has relentlessly pumped into the economy since the beginning of the financial crisis.
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Here Are The 5 Worst Places To Be When The Dollar Collapses

Here Are The 5 Worst Places To Be When The Dollar Collapses | Countdown to Financial Armageddon | Scoop.it
The dollar collapse will be the single largest event in human history. This will be the first event that will touch every single living person in the world. All human activity is controlled by money.

Our wealth, our work, our food, our government, even our relationships are affected by money. No money in human history has had as much reach in both breadth and depth as the dollar. It is the de facto world currency. All other currency collapses will pale in comparison to this big one.
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Federal Reserve Lending Revelations Intensify Criticism Of Central Bank's Secrecy

Federal Reserve Lending Revelations Intensify Criticism Of Central Bank's Secrecy | Countdown to Financial Armageddon | Scoop.it
In the midst of the global financial crisis in 2008, the Federal Reserve lent Goldman Sachs, Credit Suisse and Royal Bank of Scotland at least $30 billion each at interest rates as low as 0.01 percent with no public disclosure of the details,...
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Why the U.S. Federal Reserve Plan for QE3 Is a Done Deal

Why the U.S. Federal Reserve Plan for QE3 Is a Done Deal | Countdown to Financial Armageddon | Scoop.it
When U.S. central bank policymakers conclude their two-day meeting today (Wednesday), there's really only one question investors want an answer to: What's the U.S. Federal Reserve plan for QE3?

Let me answer that for you: QE3 is a done deal - although Fed Chairman Ben Bernanke & Co. might well give it another name.
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CBO: Federal Debt to Hit 70% of GDP This Year

CBO: Federal Debt to Hit 70% of GDP This Year | Countdown to Financial Armageddon | Scoop.it
U.S. debt is forecast to soar to 70% of the country's annual economic output -- the highest share since shortly after the end of World War II -- by the end of this year, according to a report by the Congressional Budget Office.
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World Debt is Unpayable, The Only Solution is Monetary Collapse

World Debt is Unpayable, The Only Solution is Monetary Collapse | Countdown to Financial Armageddon | Scoop.it
The current situation regarding the state of recovery in the US has turned from precarious to dismal and as we predicted a year ago May we will have to be treated to QE3 something no one really wants, but as we said before it is inevitable.
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UK Financial Times: U.S. Economy Bound for Japanese-style Lost Decade

UK Financial Times: U.S. Economy Bound for Japanese-style Lost Decade | Countdown to Financial Armageddon | Scoop.it
Britain's leading financial newspaper, the London Financial Times, says that the U.S. economy may be headed toward a Japanese-style Lost Decade. By Thomas R.
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Is Austerity Worse Than Default? - Daniel Indiviglio - Business - The Atlantic

Is Austerity Worse Than Default? - Daniel Indiviglio - Business - The Atlantic | Countdown to Financial Armageddon | Scoop.it
The U.S. has a debt problem. The borrowing path the nation has been on over the past several years is unsustainable, and Republicans in Congress seek to change that by cutting spending as part of a compromise to increase the debt ceiling. But the U.S. also has an economic problem. Still struggling to recover from a deep recession, growth has resumed at a modest pace, but the recovery has been slow and uneven. With the economy so fragile, would deep, immediate budget cuts be even worse than a default?
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How will U.S. fair after QE2 ‘life support’ pulled? – Business 360 - CNN.com Blogs

New York (CNN) – In just over a week Ben Bernanke and his colleagues at the Federal Reserve will turn off the life support system that has kept the U.S. economy alive for the last two years. How will the markets respond?
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QE 2 Proves No Silver Bullet

QE 2 Proves No Silver Bullet | Countdown to Financial Armageddon | Scoop.it
The Federal Reserve's controversial $600 billion bond-buying program--known as the central bank's second round of quantitative easing, or QE2—will end this month with a mixed legacy, having proved to be neither the economy's needed elixir nor the...
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US Economy on 'Slippery Slope' to Recession: Rosenberg

"We have to be honest with ourselves, this has been an absolutely horrible recovery," economist David Rosenberg told CNBC. "It’s just so evident to me two years into this expansion that whenever the fiscal and monetary spigots are turned off we go into a soft patch. This happened last year. I feel like Bill Murray in 'Groundhog Day.'"
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Morning Bell: Pictures of America’s Fiscal Nightmare | The Foundry: Conservative Policy News Blog from The Heritage Foundation

Morning Bell: Pictures of America’s Fiscal Nightmare | The Foundry: Conservative Policy News Blog from The Heritage Foundation | Countdown to Financial Armageddon | Scoop.it
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