Right here in the U.S., despite the Fed's eight consecutive interest rate cuts ...
Consumer confidence has plunged to a 28-year low ...
Inflation expectations have soared to the highest level since 1982, and ...
Housing starts have cratered to the lowest level in 17 years.
Nor is the U.S. economy an easy fix. We have the massive burden of $49 trillion in credit market debt, according to the Federal Reserve Board. We have $50 trillion in contingency debts of the U.S. Federal Government, according to the Government Accountability Office. And we also have $164 trillion in derivatives, according to the Comptroller of the Currency.
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