• Rising commodity prices.
• Record imported oil/gas prices.
• An unpopular, expensive war.
• A weak, ineffective president.
• Massive deficits.
• Conflict with
In the 1980’s, with the total destruction of the U.S. Savings and Loan industry, it took $135 billion dollars of
In one short week in August 2007, the same system needed $400 billion dollars, created in one week, just to keep the system afloat a little while longer.
The continuous printing of new dollars to cover our exponentially increasing pile of I.O.U's is one indicator of an alarming truth—the strength of the U.S. dollar is based solely on people's faith in it. The problem is that the
At some point, we may see a repeat of
[Excerpt of an article by Michael Byrd, Austin Report]