How long can the United States remain the world’s largest economy as well as the world’s largest debtor?
“Not indefinitely,” suggests former Federal Reserve Chairman Alan Greenspan. “History tells us that great powers when they’ve gotten into very significant fiscal problems have ceased to be great powers.”
Raum: Greece’s crisis could presage America’s | thetowntalk.com | The [...]

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It seems to this observer that it is only a matter of time before the UK sinks into an irreversible sovereign debt cataclysm, with the United States not far behind. Anyone who believes that the same political establishment and financial elites that have led both nations to this hellish fiscal precipice can now lead us [...]

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With the Connecticut Democrat unable to secure any Republican support after weeks of intense negotiations — and with the legislative clock winding down — he warned that senators needed to act soon to prevent a financial fiasco from again severely shaking U.S. and world markets.
“Let me be clear: We are still vulnerable to another crisis,” [...]

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If you think that the sovereign debt crisis is mostly behind us … that America’s federal deficit is turning into a non-issue … or that we can just go back to business as usual … you’d better consider the drama now unfolding in the hard numbers just released last week:
The Great Credit Squeeze | Money [...]

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The ominous word ”boom” appeared last week, in large type, on the front page of the local newspaper. Given the nature of this paper, the word could only refer to one thing: property. While the signals from the property market are mixed, it appears we are springing back to normalcy without absorbing the reality: the [...]

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The global financial crisis of 2008, which economists estimate could result in several trillion dollars of losses and which has already cost American taxpayers billions of dollars in government bailouts, was triggered not by war or recession but by a crazy, man-made money machine, built on flawed mathematical models that most financial executives did not [...]

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If you read only one book about the causes of the recent financial crisis, let it be Michael Lewis’s, “The Big Short.”
That’s not because Lewis has put together the most comprehensive or authoritative analysis of all the misdeeds and misjudgments and missed signals that led to the biggest credit bubble the world has known. What [...]

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If Greece defaults, “it risks exacerbating the economic downturns and could even reignite an acute financial crisis” through higher interest rates, Marc Chandler, global head of currency strategy at investment firm Brown Brothers Harriman, wrote in a report.
A Greek default would hit Americans hard in one major area: exports. According to the Economic Report of [...]

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Poor economic data in the US coupled with Europe’s debt crisis are contributing to an increase of the risk of the US economy going through a double-dip recession, Nouriel Roubini, who predicted the 2007 financial crisis, wrote in a research paper.
At best, the US economy is headed for a U-shaped recovery this year, Roubini said. [...]

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Of all the major disasters and threats to your security ahead — and all the major profit opportunities — three stand out as the most imminent of all:
Disaster #1: America’s Empire of Debt. If you think Americans are living a normal life, think again. Our entire consumer economy, lifestyle, livelihood — and nearly all or [...]

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