People and governments around the world are fast running out of money. This is common news today, the inability to meet payments and the building up of debt. Though many individuals, corporations, towns, cities, states and sovereign governments are in this situation no one has gotten into deeper hock than the United States Government. They have been able to borrow and spend without limit but now they have hit a wall.
Reality always has a way of rearing its' ugly head and this is going to be ugly beyond comparison. Inflation and depression, people are going to get an up close and personal look at why our Constitution was an important safeguard and what happens when people don't learn from history.
Since we ALL are paying the national debt, how about just sending a million dollars to every American to pay off their debt first and purchase what they need and want second. We'll call it a loan to ourselves. If we're stuck with the payments we might as well experience some direct benefit - even if it is fleeting.
Most of America isn’t even aware how close we came to a financial meltdown. No I’m not talking about the ’07-’08 crisis, but rather the very stealthy one that occurred in late 1998. So you thought that troubles were over for the banking system. Now, the Financial Times reports that the 35 largest US banks will come up $100 to $150 billion short of capital after the Basel III global banking regulations kick in, "with 90 per cent of the shortfall concentrated in the biggest six banks, according to Barclays Capital." To comply with the liquidity requirements of Basel, these banks will also need to come up with half a trillion in cash or "easy-to-sell" assets. Read more.....