There is a day of reckoningMy Comment: It's all about the DEBT. The only question is when does it all hit the fan? Will there be a partial government shutdown this week over failed budget negotiations? I think the US presidential election poses a clear and present danger to the country. If either Biden or Trump get elected, the country is doomed.
Record Global Debt: A Ticking Time Bomb For The World Economy | ZeroHedge Excerpt:
As debt levels swell, so do the risks of debt distress, default, and contagion. Debt is currency printing; the confidence in the purchasing power of the newly issued money slumps as debt balloons. Furthermore, a sudden loss of market confidence or a liquidity crunch in one corner of the globe can swiftly snowball into a full-blown financial crisis with far-reaching systemic implications. To think this will not happen in the United States is myopic and reckless. The interconnected nature of the modern global economy means that no nation exists in isolation, and the repercussions of a debt crisis in one area can reverberate across the entire financial ecosystem.