Is the U.S. Headed for Another Great Depression?

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Ing-Direct - ShareBuilder promotion promo codes Stock Trading Online------ U.S., Europe Headed Towards Another Depression? For some, warnings of a U.S. economic slowdown go beyond a recession. From the CNBC website this morning: The end result of the global economic slowdown may be the U.S. announcing national bankruptcy as the government cannot afford the bailouts that it promised and the market will not bail out the government, Martin Hennecke, senior manager of private clients at Hong Kong-based Tyche, told CNBC on Thursday. We expect a depression in the United States. We expect a depression, very possibly, also in Europe, Hennecke said on Worldwide Exchange. Hennecke, who previously worked as an investment adviser at Hong Kongs Bridgewater Ltd. and is a frequent guest on CNBC and Bloomberg Television, explained: The estimated $300 billion cost of the Fannie/Freddie bailout will probably be considered as a loss that the government will have to take, therefore passing it on to taxpayers, he explained. We already have $3 trillion of debt, as far as the U.S. government is concerned. These debt figures across the U.S. economy are rising very sharply. When the government can no longer pass the United States immense debt on to taxpayers, it will turn to the holders of U.S. dollars, leading to the eventual downfall of the currency, Hennecke said. Definitely, it (the dollar) is not a safe place to be invested in, as real inflation is closer to 10 or 11 percent than the actual inflation numbers given by the U.S. government, Hennecke said on Worldwide Exchange.
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