There is no mistaking it as the world’s largest economy is still bleeding out from the 2007 financial crisis. In spite of the governments questionable attempts to intervene and add buoyancy to the sinking ship “America” foreclosures are still at all time highs, unemployment is way too high and the national debt is over $15 trillion dollars.

Furthermore countries across the planet want out of financing our debt. Their now dumping dollars as fast as possible and either buying gold or other national debt. The overinflating of the US money supply thru QE-1 and QE-2 have caused great concern to countries like China who are now pleading to the US Government to stop inflating the currency as there still holding about 1.3 trillion dollars in their Central Bank...

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The United States has exceeded the federal debt limit. The Government now has to shuffle money around. Important investments have been halted until mutual agreement over the debt limit can be resolved. The US. has until August 2nd to come up with a mutual plan to raise the debt limit.

Everyone is in agreement that the debt limit must be raised. Only problem is so far the President, Republicans and Democrats can’t see eye to eye on the solution. Let’s hope they find one fast. The head of the Federal Reserve Bank, Ben Bernanke, and the US Secretary of the Treasury, Timothy Geithner, have warned that without a debt limit extension an extremely serious large financial crisis will be expected soon. There are only a couple months to go at that time the US would be forced into defaulting on their immense national and foreign debts. The outcome would severely cripple the US dollar and the US economy while many other foreign economies also will feel the pain...

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