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Monday, 13 December 2010 19:37

Ivan Canas: As predicted the US is bankrupt. What to do now? Please important to read the 'more info' section where the problem is explained. George W.Bush will be remembered as the one who Destroyed the US leadership.

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The US is bankrupt. What to do now? Economists of every political stripe are predicting a slump, the Democratic presidential candidates have all made proposals for an economic stimulus package — and even the Bush administration, long in a convenient denial about the housing crisis and its impact, is trying to put together a plan to jump-start the economy. Here is where the situation gets tough. The USA must stop pretending to be a super power any more. Will they take the path of war? Yet the stimulus proposals from both parties amount to just a fraction of the amount spent on the US wars in Iraq and Afghanistan. This war was and still a disaster for the US economy. Bush thought that Iraq by now should have been already functioning as a country and the US economy getting the benefits of their Oil to recover the war expenses plus making profits. Well, that never happened. George Bush, will be remembered in history as the man who destroyed the USA, we are living the fall of an empire. With more bad news emerging on practically every economic front — falling house prices, a credit squeeze, declining consumer spending, stagnant wages and higher inflation — the picture is likely to get worse. Wall Street has already signaled Corporate Americas plan: grab all the cash you can, and make workers pay. This was the reason why Oils prices were very high because everyone (hedge funds)was and still now desperately trying to get liquid; and Oil, Gold and Drugs have become the ...

Debt expert James Falla answers the question 'Can I keep a mortgage if I go bankrupt in the UK?' for

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