Thursday, February 04, 2010

Doug Casey: The great parallels between the U.S. and ancient Rome

While this was printed in December, it's fairly timeless, and often the theme of Doug's talks at conferences. For those of you who aren't able to attend these, I thought you'd enjoy this. And I couldn't agree with it more. The empire is indeed crumbling into an abyss of debt and corruption.

Eight per cent of American adults collect food stamps. While official unemployment is 10% - the true number is closer to 17%. And there is no end in sight to the housing crisis - the epicentre of the current crisis.

And we Canadians are falling into the same debt trap as our southern neighboors. It's as if collectively, we are totally blind of what they are now suffering from and we are determined to learn this lesson the hard way the way they are doing (see the MacLean's article, above).

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U.S. National Debt Clock