According to all accounts, the United States faces its worst economic crisis since the Great Depression, with $2 trillion in near-term financing needs for bailouts and economic stimulus. This is an enormous sum for any country, especially one that is so heavily indebted that it is close to bankruptcy. If the money can’t be borrowed abroad, it will have to be printed—a policy that carries the implication of hyper-inflation.
In normal life, a borrower who must appeal to creditors makes every effort to bring order to his financial affairs. But not the Bush regime.
The out-of-pocket costs of Bush’s Iraq war are about $600 billion at the present moment, a figure that increases by millions of dollars every hour.
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Paul Craig Roberts :: Nov.28.2008 ::
Paul Craig Roberts ::
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