U.S. Worse Than Europe: Jack Mintz
Jack Mintz / Financial Post
EU is dealing with its fiscal crisis, but U.S. seems paralyzed
At a European conference on the sovereign-debt crises that I attended this week, my overwhelming conclusion, after listening to many experts, is that the U.S. is in far more trouble than Europe.
This was brought home by calculations presented by Larry Kotlikoff of Boston University at a lecture held at the International Institute of Public Finance, the biggest gathering of public-finance experts in the world. Greece may be bankrupt, but the U.S. looks like a giant Ponzi scheme.
Kotlikoff’s calculations show that U.S. unfunded liabilities total US$222-trillion, the highest of all major OECD countries (12% of the time value of U.S. GDP) once accounting for monetary public debt, Social Security deficits and public-health-care unfunded liabilities. One can quibble with some of the calculations, but no one can doubt that the U.S. is in serious fiscal trouble, more so than any other developed economy.
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http://opinion.financialpost.com/2012/08/21/u-s-worse-than-europe/
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Whistler Blowers, Insiders
The U.S. is not paralyzed. 50% of America lacks sufficient education to understand, the elected 1% leadership is selling us back to England, and 49% will eventually band together to remove the fangs and bash them out of our attacker’s head. Since the motivation to destroy the U.S. is based on the vanities of a family of British troglodytes, the concept is easily understood as to who is responsible.