The most predictable economic crisis in history

This short article is spot on. The debt we have accumulated is not just a problem for our grandchildren, we are in the middle of a debt crisis brought on by unsustainable levels of debt and fighting it with more debt. Debt level charts show that we are in a classic blow off phase. Since debt is a proxy for currency, the money supply, broadly measured has gone ballistic. This is all an inevitable result of fractional reserve banking and fiat currencies–the complete lack of discipline that they foster.

March Madness: U.S. Gov’t Spent More Than Eight Times Its Monthly Revenue |…-time

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