8-14-2012 Austin-Powers-For-PM: Hey, all of us have to wonder if this will really ever happen. However, we also have to look at what happens if it doesn't. What happens to Iraq if they continue to struggle at their artificial rate that grossly undervalues their country's wealth?
What happens to the Euro if there is not a massive amount of liquidity injected into the system? And most of all, what happens to the U.S. when we approach Greek-like debt loads in 4-5 years that we can never pay back except with a massive printing press that will virtually devalue most every investment vehicle in the world?
It's not a pretty picture and the IMF has known about this for years and years. The individuals who have been tasked with getting our global finances back on an even keel (or something close) know that only a radical solution exists to prevent another Great Depression that could have military consequences that would make WWII look like patty cake. Keep looking at the big picture and keep asking yourself "What happens if NOTHING happens?"