Wednesday, February 12, 2014

#tcot #tgdn Professor Laurence Kotlikoff- Fed Printing 29 Cents of Every Dollar Uncle Sam Spends

Hat Tip usawatchdog

Dr. Laurence Kotlikoff says, "The government is printing mountains of money to pay its bills. The Fed is printing 29 cents of every dollar that Uncle Sam is spending." What happens if this continues? Dr. Kotlikoff, a Professor of Economics at Boston University, says, "Eventually somebody recognizes this and starts dumping the bonds, and interest rates go up, and inflation takes off, and were off to the races." In closing, Dr. Kotlikoff warns, "This is going to crash, but there are different ways for cancer to kill you. It can be very gradual . . . or it can attack some organ and you can die overnight. Either of those outcomes can happen."

The Intergenerational Financial Obligations Reform Act