Friday, December 11, 2009

Sovereign Debt Defaults the Next Shoe to Drop?

by Mike Larson 12-11-09

Governments the world over have spent the past year bailing out, backstopping, insuring, and stimulating their financial sectors and economies. Trillions of dollars, euros, yen, and pounds have been thrown around like Halloween candy. Officials have assured us there’s little risk to that strategy.

But we have warned consistently that the opposite is true. Our stance: If you borrow and spend too much, all you’re going to do is transform a Wall Street debt crisis into a Washington debt crisis.

Lo and behold, the bill for all this global fiscal and monetary largesse is beginning to come due. Debt and deficit problems are going from bad to worse in many nations. That’s raising the very real risk of the unthinkable: Widespread SOVEREIGN debt defaults! FULL STORY

Audit the Fed? Ron Paul on 'Glenn Beck' 12-09-09 Seg6 of 8,2933,579941,00.html
This is a rush transcript from "Glenn Beck," December 9, 2009.

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