China Military Urge Dumping U.S. Bonds To Punish ‘Arrogance’

Senior Chinese military officers have proposed that their country boost defense spending, and possibly sell U.S. bonds to punish Washington for its latest round of arms sales to Taiwan.

Banks To Bombard Customers With New Fees In 2010

New Charges Seek to Get Ahead of New Federal Rules Limiting Increases in Interest Rates

Unemployment Funds Running On Empty Across The Country

States are faced with the choice of raising payroll taxes, or cutting benefits or the funds could soon become completely insolvent

Moody’s Warns of ‘Social Unrest’ As Sovereign Debt Spirals in 2010

Britain and other countries with fast-rising government debts must steel themselves for a year in which “social and political cohesiveness” is tested

There Is No Way Out Of This Box

by Karl Denninger

Go ahead folks – tell me how we can simply ignore this. How we can pretend that the outstanding debt does not have to come back down to reasonable levels. That these levels are “reasonable” – and that these rates of growth are “reasonable.”

This is the “magic of compounding” writ large – and in a fashion that is going to inflict severe pain on our population – and the longer we wait to deal with it, the worse it will be.

CHINA: “The world does not have money to buy more US Treasuries”

Deputy governor of the People’s Bank of China referred to the overall situation globally. Be prepared for a currency crisis.

Dems Want to Raise Debt Ceiling $1.8 Trillion by Years End

“We don’t really have a choice. The bill’s already been run up; the credit card has already been used. When you get the bill in the mail you need to pay it.”

Schiff Report: Obama’s Economy, US Soverign Debt, and Senate Race

by Peter Schiff

When Obama took office we were not on the verge of a great depression, we were on the verge of a great recession. Because of the policies that he has been pursuing we are now on the verge of a real great depression.

All that his policies have done is buy incumbent politicians more time in office.