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It is very clear that we are approaching a national debt crisis. This chart from the St. Louis Fed illustrates America's tale of woe. Once interest rates start to rise--and inevitably they must and will--then the whole charade will abruptly end. We will suffer a debt crisis far more horrendous than what we witnessed in 2008. No nation can survive a sustained debt level greater than 100% of GDP for and extended time without a crisis.

Some interesting reading over at The Daily Bell: Chris Becker's Austrian Perspective on South Africa, Gold and the Ludwig von Mises Institute

Jim Rogers: The Gold Correction Is Not Over

U.S. Civil Charges Against Corzine Are Seen as Near

Items from The Economatrix:

The Trigger Has Been Pulled And The Slaughter Of The Bonds Has Begun

Not Prepared:  17 Signs That Most Americans Will Be Wiped Out By The Coming Economic Collapse

Report:  Hidden Tariff On American Citizens In Immigration Bill: Millions More Stand To Lose Their Jobs

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This page contains a single entry by Jim Rawles published on July 1, 2013 9:55 PM.

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