A Russian economist predicts that the United States ultimately will be split into five different countries, and controlled by foreign powers that own all of its debt.
That news from CNBC on the surface is very laughable. But once you consider how much debt this nation is going to have to create to pay for an economic stimulus plan for you and me, besides bail out states and municipalities, then the prediction may not be that far fetched.
How large of deficits can this nation run up until someone calls our bills due? China already owns more than $1 trillion in U.S. debt. China may buy up a mega billions of dollars of MUNI bonds that some cities default upon in the new year.
Tennessee will be in a Northeast country of what used to be the United States, according to the economist. That should be interesting collection considering that Tennessee voted overwhelmingly for McCain, while the rest of the state voted for Obama. There may be a civil war within a civil war.
Old times may not be so forgotten after all.
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