I see an economic diasater coming...

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The rest of it is about 4 years old and its pretty much just science types bashing each other.Over hydrogen production.But those two posts pretty much said the rich will get theirs too.triffid

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This article says US debt really 50 trillion,not the mere 15.7 trillion we are told.  http://global.christianpost.com/news/study-says-national-debt-is-bigger-than-you-think-50000000000000-76548/  triffid

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Another disturbing trend in the USA.  http://finance.yahoo.com/news/retirees-hit-hard-foreclosures-040549307.html Over 75 years old is the hardest hit group.triffid

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Mortgage debt also increased among other 50+ Americans: 54% of families headed by a 55- to 64-year-old had mortgage debt in 2010, up from 37% in 1989. And 41% of families headed by a 65- to 74-year-old owed money on a mortgage, up from 22% two decades earlier.
“This increase partly reflects increased borrowing that was spurred by historically low interest rates and high home values prior to the housing market collapse,” the report said. “It may indicate that the oldest borrowers have tapped their home equity to finance their needs in retirement.”
Combine that outstanding debt with lower incomes, rising property-tax bills and health-care costs â€" and you get homeowners facing a severe financial crunch.
“The Great Recession has been brutal for many older Americans,” said Debra Whitman, executive vice president for policy at AARP.[/size]
“America’s oldest homeowners have been struggling to maintain their financial security as their incomes are falling, and as mortgage payments, property taxes and health-care costs are increasing.”
The ATM is empty
And tapping home equity is no longer a cash-flow solution for the some 3.5 million older Americans, who are now “underwater” on their homes (they owe more than the house is worth).
About 23% of loans nationwide â€" borrowers of all ages â€" were underwater in December. That figure rises to 28% among younger homeowners, those under age 50, versus 16% for borrowers over age 50, the report said.

[camelherder49]

Check out "Whats really wrong with America " by Stansberry & Associates.

A very lengthy video that explains what is actually happening and root cause.

I tried linking this video but did not work.

CH