In order to solve or stem the economic slowdown, Hennecke suggested the US would have to radically reduce spending across all sectors and recall all its troops from around the world.
Happy Remembrance / Veterans Day. Thanks to twist [and especially Doomer L — see below] for finding this one. Despite the strong flack he was getting from another guest, Tyche’s Martin Hennecke was quite explicit on his dire predictions about what the US will have to do to save the AAA rating on it’s sovereign debt. And default is not out of the question.
I’m a retired civilian IT worker at Canada’s DND. While I was there I was adamant that the West could not afford its present wars and oversees deployment. Now, several years later, this assessment is starting to be heard on CNBC. Doomers will recall me using language similar to the above letters-of-fire several times recently, and some of my former colleagues may recall discussions over coffee a bit like the CNBC video going back as early as 2003. Some of those with a login might get some harmless fun out of reviewing this.