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IPFS News Link • Economy - Economics USA

Former Comptroller General: “Sudden And Very Painful” Economic Collapse Is Coming


Former head of the Government Accountability Office and Comptroller General of the United States, David Walker has issued a stark warning following the compromise deal to raise the debt ceiling.

“We are less than three years away from where Greece had its debt crisis as to where they were from debt to GDP,” Walker highlighted in an interview with CNBC earlier today.

Greece’s ratio of debt to GDP has surpassed 100% and is heading towards 150%, a factor that has meant without bailouts from the EU and the IMF, the country would have defaulted.

The US is now nearing the same 100% margin with GDP growth floundering below 1%.

“We should recognize that this could be a leading indicator for us,” Walker said, adding that something must be done now to significantly restructure government spending if a major collapse is to be avoided in the future.

2 Comments in Response to

Comment by Concerned American
Entered on:

And an ENGINEERED collapse it will that, the 'globalists' can introduce their global currency system with requisite 'global governance' - you see, if they can't bring it about militarily (such as in N. Korea, Iran, Venezuela, etc.), or via 'global warming', I mean 'AGW', no wait - 'climategate', I mean 'climate change', well, then, they'll have to do it FINANCIALLY - through PROBLEM-REACTION-SOLUTION.  They've created the problem:  global economic collapse, they're now awaiting the hue and cry of the general public who'll be screaming "Do SOMETHING!", then, at the appointed hour, they'll offer THEIR (pre-planned) solution:  A Global Currency, UNDER THEIR CONTROL.  


Comment by Every Man
Entered on:

Naming Names: Your Real Government (When dark deeds unfold, point the finger in this direction).
by Tony Cartalucci

The Real Revolution 

"Boycott the globalists, cut off their support, undermine their system, and they lose their ability to commit these atrocities. That will be a real revolution and it can start today. Not burning cities and masked rebels waving flags, but communities no longer dependent and fueling a corrupt system we all know must come to an end.