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Greg Hunter, “USA Actually Bankrupt Now”

Wednesday, October 26, 2016 1:05
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(Before It's News)

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“USA Actually Bankrupt Now”
By Greg Hunter’s USAWatchdog.com
 
“Renowned Boston University Economics Professor Laurence Kotlikoff is running for President with a write-in campaign. He says we need an economic expert, not a politician, to fix our severe financial problems. 
 
Dr. Kotlikoff explains, “Our democracy is in trouble. We have 14% of the electorate who have chosen Hillary Clinton for us to vote for, and a different 14% have chosen Trump to vote for. The vast majority of the population realizes neither Clinton nor Trump are qualified. Just on the economic front, these folks have no idea how fiscally sick our country is. 
 
The fact that we have off-the-book liabilities that make our true debt roughly 15 times larger than the amount the government is actually reporting, so, our true debt is about $206 trillion. The debt the Congressional Budget Office is telling us about is about $13.5 trillion.
 
We’re short $206 trillion. The country is 53% underfinanced. So, the country is actually bankrupt right this minute. It’s not $206 trillion in the future that we owe, it’s $206 trillion today. It’s our credit card bill, and we’re broke.”
 
Kotlikoff goes on to say, “So, if you put everything on the books, we’re broke, and we’ve been printing money out the wazoo since 2007 to pay Congress’s bills.That’s the truth about quantitative easing. We need to have somebody who knows what’s going on in the big picture here and has a game plan to get rid of this fiscal gap, and do it without total chaos. If we leave things the way they are, people will view the country as leaderless fundamentally and printing money to pay its bills. 
 
Then, the expectation will occur, and that’s going to raise rates, and that’s going to drop bond prices, and that will sink the banks, and, yes, you can have another great recession like Bill Gross is referencing (bond super nova). I’ve been saying this for decades. The time for the last straw to drop on the camel’s back, and when it’s going to drop that camel is hard to say. 
 
If you look at the fundamentals, and the fundamentals look like that of an emerging country, we are the most indebted developed country relative to GDP of any country around. We are in worse shape, I believe, than Russia or Greece, and far worse shape than Italy.” (There is much more in the video interview.)
 
Join Greg Hunter as he goes One-on-One with Professor Laurence Kotlikoff,
 who is running for President in 2016 with a write-in campaign.
 
 

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  • A leading US senator: US Supporting War in Syria

    A leading US senator said the war in Syria would have been over by now if the US had put an end to its intervention when Russia entered the war-ravaged country.

    “If the United States had just stayed out of it at that point, the war would be over by now; people would be rebuilding, refugees would be returning back to Syria, but the United States rushed anti-Tank missiles, and we used these so-called moderate rebels as a conduit to supply al-Nusra Front (also known as Fatah al-Sham Front), which is al-Qaeda in Syria,” republican member of the Virginia State in US Senate, Richard Hayden Black said in an exclusive interview with Press TV.

    “If we were not supporting the war in Syria, I believe that the Syrians, combined with their allied forces from Iran, Lebanon and Russia… would move very steadily and restore the borders of Syria.”

    The senate member, who visited Syria in April, refused to distinguish between militants and terrorists fighting the government of President Bashar al-Assad, saying, the two are “thoroughly integrated.”

    “They really are one and the same, they’re part of the same army,” he said, citing a US defense intelligence agency’s investigation in 2013, which showed Washington’s ties with the terror group.

    The outspoken state senator referred to plans by the CIA to transfer arms from Libya to Turkey and from there to Syria to supply the militants, noting that the move “evolved into an indiscriminate program of supplying all militant groups, including specifically ISIL and al-Qaeda.”

    “We do it indirectly because it’s unlawful to do it directly,” he said, adding that the US keeps “extremely violent organizations… off the terrorist watch list because these are the agents that take our weapons and then distribute them to ISIL and al-Qaeda.”

    In response to a question on why Iran and Russia are portrayed as the “bad guys,” while they are the ones really fighting terrorism there, as put recently by GOP presidential candidate Donald Trump, Black said the Republican candidate has a “clear understanding of what’s happening over there.”

    “Sometimes, his rhetoric has to match the political mood of the moment… but I know a number of his advisers and they believe that our determination to topple the government in Syria is suicidal, that it threatens not only the entire Middle East but literally the entire world.”

    He further warned that the US itself could be “threatened,” arguing that, “if Syria falls, it will be dominated by some al-Qaeda-related organization; Lebanon will fall; Jordan will fall and the entire area will be destabilized.”

    The Vietnam war veteran also elaborated on his personal definition of the Middle East “axis of evil,” naming Qatar, Saudi Arabia, and “particularly” Turkey over their support for terrorism.

    “Probably, three quarters of the rebels are not Syrian at all, they are mercenaries recruited by Turkey, Qatar and Saudi Arabia,” he asserted, describing the three countries as “the primary force behind the terrorist movement.”

    “Turkey has invaded Iraq and Syria with heavy military forces. Turkey has really become a rogue nation,” he added, referring to a 1923 treaty that set the border between Turkey and Greece, saying that was even being questioned by President Rececp Tayyip Erdogan.

    “And now you see this emerging threat against Western Europe by Turkey,” he noted, further adding that Erdogan “has made it clear that he looks to resurrection of the Ottoman Empire.”

    “He has become more and more aggressive; he’s crushed the military, the free press; every powerful institution of the Turkish government has come under his iron fist and he’s now a total dictator. He’s a man who has said that he wants the constitution amended so that he will have power similar to those of Adolf Hilter… This is our great ally; we’re allied with a man who would be Hitler.”

    He also blasted Washington’s alliance with Saudi Arabia, “where women are not allowed to walk out in the front yard to pick up the newspaper without a man’s permission; they can’t drive a car!”

    “Somehow, this is part of the liberalization that we seek to impose on the Middle East,” he said ironically, calling it “bizarre.”

    He also praised the resistance against the Saudi aggression by the people of Yemen, saying, “God bless them! The Yemenis are giving the Saudis a bloody nose,” despite being a “tiny little, poor nation.”

    “I think the world recognizes that Saudi Arabia has just embarked in massive war crimes in Yemen,” he said, voicing regret over the US support for the monarchy.

    “We don’t pay too much attention to them while engaged in war crimes because they’re our good allies,” he said, concluding that Washington is on a “suicidal course of action.”

    “Saudi money pays the very top politicians in many Western nations. And they really have co-opted the American military into acting as mercenaries for Wahhabism.”Black referred to the Western media’s portrayal of Iran as a supporter of terrorism, saying, “The fact of the matter is that if you really look at global terrorism, it all emanates from Saudi Arabia.”

    He exemplified various terrorists attack, including the 9/11, the Boston bombing, and the Brussels attacks, noting that they are all a “reflection of the Wahhabi philosophy.”

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