Article

2014-01-03 Economy

IMF paper warns of 'savings tax' and mass write-offs as West's debt hits 200-year high

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Posted by JohnQC 2014-01-03 11:20|| || Front Page|| [6 views ] Top

#1 Debt that cannot be paid back, will not be paid back.

The question is how.

Posted by Bright Pebbles 2014-01-03 11:45|| 2014-01-03 11:45|| Front Page Top

#2 $1 - 1.5 trillion deficit per year for the past 5 years against ~$15 trillion economy demonstrates an effective tax on savings of ~10% per year, hidden somewhere.

Posted by Glenmore 2014-01-03 11:50|| 2014-01-03 11:50|| Front Page Top

#3 Do not forget the qualitative easing of nearly a trillion a year and the result of the deficit spending and extra printing converted to bond buying? About $350 billion in yearly GNP growth, high unemployment, and even more debt.

Wait until the interest rates rise and even more tax dollars will need to go to interest payments on 19 trillion debt.

FORWARD to the Detroitification of America!

Posted by Airandee 2014-01-03 16:21|| 2014-01-03 16:21|| Front Page Top

#4 Don't forget that those negative real interest rates are pre-tax.

Posted by phil_b 2014-01-03 18:48|| 2014-01-03 18:48|| Front Page Top

#5 What does ZERO HEDGE say about a very possible/realistic Euro response to the problem, besides France's newly approved 75% "millionaire tax" which Paris ultimately hopes to pass on to the mainstream ...

To wit,

* ZERO HEDGE > MARTIN STRONG WARNS OF COMING EXPROPRIATION OF 10% OF EVERYONE'S ACCOUNT.

And since the Globies + aligned allegedly desire the post-9-11, OWG-NWO US to be like Democratic Socialist Europe, IT CANNOT BE SAID THAT WHAT HAPPENS IN EUROPE = EURO-UNION CAN'T OR WON'T HAPPEN IN AMERIKA + NAU, ETC.

Posted by JosephMendiola 2014-01-03 19:07|| 2014-01-03 19:07|| Front Page Top

#6 ...Of course, all that assumes that the banks aren't destroyed by runs caused by politicians actively discussing this...

Mike

Posted by Mike Kozlowski 2014-01-03 20:05|| 2014-01-03 20:05|| Front Page Top

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