“Much of the Western world will require defaults, a savings tax and higher inflation to clear the way for recovery as debt levels reach a 200-year high, according to a new report by the International Monetary Fund. The IMF working paper said debt burdens in developed nations have become extreme by any historical measure and will require a wave of haircuts, either negotiated 1930s-style write-offs or the standard mix of measures used by the IMF in its ‘toolkit’ for emerging market blow-ups. Financial repression can take many forms, including capital controls, interest rate caps or the force-feeding of government debt to captive pension funds and insurance companies.”
Debt hits 200-year high; IMF warns of ‘savings tax’ and mass write-offs
- Post author:The Freedom Watch Staff
- Post published:January 3, 2014
- Post category:Economy / END the FED / Network Archives / News / The Freedom Watch
Tags: Bandit Gang Writ Large, Bankocracy, CLibertyC, constitutional liberty coalition, economic Trends, for life and liberty, History Repeating, Investment/Trends, Mainstream News, Middle Class Dismissed, new world order, Resistance, sound money, statism, The Freedom Watch, Welfare-Warfare State, What Could Possibly Go Wrong
The Freedom Watch Staff
News before it is news for the resistance from a trusted correspondent.
The Freedom Watch Network