If future historians look back on the ruins of the American economy after a U.S. bond crisis struck in the second decade of the 21st century, many causes will be noted. Obviously, it will be seen that for decades before the catastrophe, the U.S. was spending vastly more than it could afford on government health and retirement programs. And, just as after the Great Depression, Pearl Harbor and Sept. 11, 2011, blue-ribbon commissions will be incredulous that all the telltale signs of the coming disaster were in plain view, yet were ignored. Receive news alertsBut the central indictment for the...
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