The U.S. Financial System Is Effectively Insolvent

There is a grave risk of a global L-shaped depression.

By Nouriel Roubini

Even with the $2 trillion of government support, most of these financial institutions are insolvent, as delinquency and charge-off rates are now rising at a rate--given the macro outlook--that means expected credit losses for U.S. financial firms will peak at $3.6 trillion. So, in simple words, the U.S. financial system is effectively insolvent.

http://informationclearinghouse.info/article22168.htm



This Is What A Financial Collapse Looks Like

Argentina's Economic Collapse

Video

Documentary on the events that led to the economic collapse of Argentina in 2001 which wiped out the middle class and raised the level of poverty to 57.5%. Central to the collapse was the implementation of neo-liberal policies which enabled the swindle of billions of dollars by foreign banks and corporations.

http://informationclearinghouse.info/article22169.htm



Regression Is Not Progress

By Frank Scott

We have depended on foreigners buying our public debt in order to finance a murderous foreign policy, while denying housing, health care and education to millions of our people.

http://informationclearinghouse.info/article22173.htm



http://freepage.twoday.net/search?q=financial+system
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http://freepage.twoday.net/search?q=economic+collapse
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http://freepage.twoday.net/search?q=foreign+policy
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