More On U.S. Bankruptcy
Apparently, the St. Louis Federal Reserve is responsible for the timing of the release. The document was finished early this year, but they may have waited until just the right time (i.e., when the media was distracted) to release the document. What better time than when Israel invades Lebanon? What really surprises me is the fact that a lot of investment newsletters have not mentioned the study.
If you'd like to read it for yourself, go to research.stlouisfed.org/publications/review/06/07/Kotlikoff.pdf
Comments
There is another great book I've read from Kotlikoff on this issue titled "The Coming Generational Storm", a must read for anyone who cares about America's financial future.
Posted by: Gary Gray | August 3, 2006 07:40 PM
This is a very thought-provoking article. The US Federal Govt has many systemic issues and an incentive system that practically guarantees that it will keep on building up debt to the point of collapse. The problem is that these are *human* issues and I see them manifested in all governments. As scary as the US numbers are, Europe and Japan are in a worse shape! I do not see any 'safe' currency out there that is free from political machinations. What is your view on this matter?
Thanks,
Manoj (a big fan of your books)
Posted by: Manoj Padki | August 4, 2006 03:37 AM