Could Washington really go broke? By Mike Burnick, Director of Research, Weiss Research
At least six major nations are now in danger of following Greece into default and bankruptcy — and the United States of America is one of them.
So says Larry Edelson, Senior Analyst at Weiss Research, an independent financial research firm.
Edelson is best known among wealthy investors for the accuracy of his forecasts. He has correctly called most major moves in the U.S. stock market for more than three decades, including the crash of 1987 ... the tech wreck of 2000 ... the crash of 2008-2009 ... and the recoveries that followed each one of these major collapses.
More recently, in August of 2015, with stocks flying high, Mr. Edelson warned hundreds of thousands of investors that a major correction was about to begin.
The correction began right on schedule; on August 19 and drove the Dow 12.5% lower over the next few days.
Almost nobody believed Edelson when he warned of those events in advance. And many will turn a blind ear to his newest set of forecasts, which are even more concerning.
According to Edelson, the years 2015 to 2020 will bring with them the greatest government debt defaults in history.
RECOMMENDED: How to survive the coming debt collapse
Edelson points out that, when Greece defaulted on its debts on June 30, 2015, its total debt was 1.5 times larger than the total value of all goods and services produced by its economy. Or, as an economist would put it, "Greece's 'debt to GDP ratio' stood at 177%."
But today, Portugal's debt-to-GDP ratio is 130.2% ... Italy's is 132.1% ... Spain's is 97.7% ... and France's is 95% — and those debts are growing at an alarming rate.
Tokyo's is 233% — 42 times higher than the debt that caused Greece to go broke — and it, too, is still growing by leaps and bounds.
Most alarming: America's official national debt plus Washington's off-budget obligations now stand at $117 trillion. That gives the U.S.A. a total debt to GDP ratio of 101%: 330 times greater than the debt that broke the back of the Greek economy.
"These debts are patently unpayable," says Edelson. "That means they cannot, will not ever be repaid. That means default is inevitable."
RELATED: Edelson shares his full research here. Read it now.
There's another reason why Edelson's admittedly extreme forecast is causing a stir among investors: He has been right too many times to ignore — and not just about stocks.
Mr. Edelson first urged investors to buy gold on June 1999 when it was just $255. Then, within days of the exact top in 2011 — with gold at $1,925 — Mr. Edelson announced that the bull market was over and urged his readers to take their profits.
Edelson is equally well known for accurately predicting the collapse of the U.S. dollar that began in 2000 — and the huge rally we've seen over the past year. And he also predicted the historic plunge in oil and grain prices last year, giving investors ample opportunity to profit.
Now, in "CONVERGENCE" — an historic special report that Edelson has agreed to make available to you free on this special website — Edelson reveals his startling forecasts for 2016-2020 ... what you must do immediately to protect your wealth and how go for substantial profits as the largest government debts in history implode.
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Poster Comment:
WASHINGTON IS BROKE, AND THE DEBT GETS LARGER EVERY DAY.