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Friday, December 27, 2013
When Interest Rates Tick Up, The U.S. Will Be In A Mess
One day when interest rates go up for whatever reason, maybe next year,
or in 3 years time, interest payments on the government debt will
balloon, an in say, 7 years time, the interest payments on the US
government debt will be between 35 and 50 percent of tax revenues. Then
you are in a huge mess.
I believe to get out of that mess they will monetize, they will have all
kinds of stimulus packages that will lead to high inflation and the
standards of living of the typical household, the average household,
will go down. It will enrich a few people, the elite, essentially on
But then to distract the attention, the US will escalate its war efforts
and then we will go into war in the world and then the whole thing will
collapse. - in ET Now
Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.