Written by SPECTRUM
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Topics: Economy

Thursday, 23 July 2009

image for America Bankrupt Worldwide Economic Collapse
You may soon have to carry two large bags of this to get a newspaper

Americas national debt has been underestimated and kept from the the ordinary people for some time says economics expert Stanley Gold.

At a press conference yesterday in New York Mr Gold said "In my estimation the USA has debts of over 100 trillion dollars and not enough assets to back up this debt we could be heading for worldwide economic collapse, printing more money is not the answer.

"You could print as much as you like money is only a promisorry note but with no assets to back up the extra money being printed the bubble is eventually going to burst"

If Mr Gold is correct we could see America going bankrupt.

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