It looks like you're using an Ad Blocker.

Please white-list or disable in your ad-blocking tool.

Thank you.


Some features of ATS will be disabled while you continue to use an ad-blocker.


US lurching towards 'debt explosion' with long-term interest rates on course to double

page: 1

log in


posted on Jul, 6 2009 @ 02:44 PM

The US economy is lurching towards crisis with long-term interest rates on course to double, crippling the country’s ability to pay its debts and potentially plunging it into another recession, according to a study by the US’s own central bank

The study is damning because Mr Laubach was the Fed’s economist at the time, going on to become its senior economist between 2005 and 2008, when he stepped down. As a result, the doubling in rates is the US central bank’s own prediction. Mr Congdon said the study illustrated the “horrifying” consequences for leading western economies of bailing out their banks and attempting to stimulate markets by cutting taxes and boosting public spending. He said the markets had failed to digest fully the scale of fiscal largesse and said “current gilt yields [public debt] are extraordinary low given the size of deficits”. Should the cost of raising or refinancing public debt in the markets double, “the debt could just explode”, he said, adding that it would come to a head in “five to 10 years”.


More good news....we should spend more!!! Hell...why did they stop...if they want to tank the economy permanently....then DO IT. Quit prancing around like a bunch of morons...everyone knows what you are doing....and everyone who is paying attention knows what is going to happen as the result of it.

It's quite sad to see Americans trying to save money....yet their own government does the exact opposite and explodes the debt to insane proportions.

Obama is Bush x10.

Mod Edit to fix broken link.

[edit on 6-7-2009 by mrwupy]

posted on Jul, 6 2009 @ 03:01 PM
Does no one remember the Prime Rate at 20% in 1981????

Scroll down and look at the graph, if you don't like the charts.

Seems the Nation weathered that storm.

Now, I'm off to make a Chicken Little hat......

(I think a lot of fortunes were made, back then...just gotta know where to look).

posted on Jul, 6 2009 @ 03:18 PM
This is the much predicted tragedy that is about to unfold.

The inexperienced believe that the bad times will end, not that the bottoming out of the economy was just a trap before it fell down a never ending ravine.

Young people have been buying houses in the UK again and ignored a little warning given at the beginning of the year that inerest rates in the UK could sky rocket towards the autumn.

If the US increases its interest rates, so will we.

Repossessions next years will be tragic.

And all to make us weaker, more vulnerable, poorer and sicker!

There are some demented psychopaths running this world.

Perhaps it is time to Name and Shame them and leave them to their fate!

posted on Jul, 6 2009 @ 03:23 PM
reply to post by weedwhacker

Seems the Nation weathered that storm.

How did we whether the storm? From Ronald Reagan starting the strong deficit spending? We see where that has lead us...and that's the one thing missing from that chart.

We didn't have a 12 trillion dollar national debt then, nor were we in an 8 year war. Our huge American Empire hadn't reached it's full potentinal back then either.

People say war brought us out of recession during WW2. Doesn't seem to be working now eh? The economy has been getting worse since we went to war. They've done whatever they can to keep it propped up...just as Bush yelled...Spend Spend Spend after 9/ keep the economy from taking the real hit it should have....and now look where we are.

The circumstances are completely different than then.

posted on Jul, 6 2009 @ 04:51 PM

Originally posted by weedwhacker
Does no one remember the Prime Rate at 20% in 1981????

Seems the Nation weathered that storm.

Obama = Carter II?

More evidence that this in fact may be happening.

And yes the nation did weather that storm - thanks to the economic policies put in place by Reagan after Carter was booted out of office after just one term.

So, wo will be the next Reagan? Hopefully, one will appear soon.

new topics

top topics

log in