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lynleo Offer Upgrade User ID: 768376 United States 03/24/2010 11:22 AM Report Abusive Post Report Copyright Violation | This was posted in UrbanSurvival. [link to urbansurvival.com] Post-Apocalyptic zombie finance By Spengler By 2014, International Monetary Fund official John Lipsky remarked March 21, the debt-to-gross domestic product (GDP) ratio of the Group of Seven countries will reach 100%, and the governments of the industrial world will carry the highest debt burden since shortly after the end of World War II. That is bad news; worse news is that governments are shoveling money into the world banking system to finance the debt expansion. Following the great bank bailout of 2008, the global banking system is socialized de facto, shifting its resources towards government debt and away from private sector financing. Governments averted a financial apocalypse in 2009 by bailing out the bankrupt banking system. But who will bail out the governments? The answer for the time being is that they will bail themselves out at the expense of the private economy. more at: [link to www.atimes.com] |
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