CNBC Agrees – Barnaby Was Right

26 Apr

And still more come out to admit that Barnaby’s 2009 warnings about the possibility of a US debt default were prescient.

From the USA’s own CNBC network, “First in business worldwide”:

The United States has never defaulted on its debt and Democrats and Republicans say they don’t want it to happen now. But with partisan acrimony running at fever pitch, and Democrats and Republicans so far apart on how to tame the deficit, the unthinkable is suddenly being pondered.

The government now borrows about 42 cents of every dollar it spends. Imagine that one day soon, the borrowing slams up against the current debt limit ceiling of $14.3 trillion and Congress fails to raise it. The damage would ripple across the entire economy, eventually affecting nearly every American, and rocking global markets in the process.

A default would come if the government actually failed to fulfill a financial obligation, including repaying a loan or interest on that loan.

The alternate view is that the US is already defaulting on its debts.  How?  By devaluing (weakening) the USD, through “printing” trillions of new dollars out of thin air .. deceitfully retitled as “Quantitative Easing” –

Advertisements
%d bloggers like this: