confessions of an economic hit man, page-3

at the 9:26 mark 'give these countries huge loans, lets say a billion dollars to Ecuador to build these big infrastructure projects'.....'which gets refinaced and grows until today Ecuador pays 50% of it's National Budget just to pay its debt service'.....

that is
1 billion - 1 000 000 000 (huge)

how does the US propose to service debts of
10 trillion - 10 000 000 000 000

answer it can't

They / we need a way forward, the latest Kunstler blog suggests the following as a vital step in the right direction back to reality.....

"It's also vitally important to commence public hearings and official investigations of those who committed real crimes and malfeasances. Bernie Madoff has been salted away for two and a half lifetimes, but Henry Paulson is still at large after overseeing the creation of the biggest heap of fraudulent securities the world has ever known -- and then betting against them in the swaps market, in effect shorting his own swindle -- not to mention his misdeeds at the US Deparftment of the Treasury."