Dear Concerned Investor,
TV talking heads and government economists have been falling over themselves to announce that the recession is over. Unfortunately, the real numbers don’t support that contention. In the contrary, as Casey Chief Economist Bud Conrad proves, the worst is still very much ahead of us... as the following chart shows.
Total U.S. government liabilities are now a staggering and completely unsupportable 500% of GDP. And in its rush to more “quantative easing,” the Fed will likely add another trillion dollars to its already sagging balance sheet in 2011.
So what does it all mean? Simply, it’s a global race of countries scrambling to inflate and debase their own currencies, to stay competitive in today’s dog-eat-dog world. The inevitable result: a currency crisis of never-before-seen proportions.
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