Is Uncle Sam About To Default?

Posted by majestic on November 26, 2008

PhD economist Marc Faber thinks the U.S. will go bankrupt. He’s not alone.

Credit default swaps betting that America will default on its obligations keeps going up and up and up:

(click for full image; and see this).

The failure of Citigroup has put the viability of the entire banking system in question.

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