The amount of debt that continues to rise throughout the Western nations is truly disturbing because the public generally continues to remain completely unaware as to the implications. The Western media machine is strangely failing to report the REALITY of the situation in a way that the average person can comprehend and is instead reporting that we are somehow on the mend. Furthermore, whilst Mr Cameron has admitted that austerity is a long term likelihood, we are told that we could in the future return to 'Normal’.
The truth is that whilst Central Banks continue to follow the current policy of printing currency in the trillions - 'Normal' is not an option.
Until recently, Governments and their advisers (being those who failed to see the catastrophic events that took place in 2008 in the first place and who are still in place as advisers) have shown no signs of accepting a change of direction in their policies. Nor have we seen any sense of reality in the way this appalling debt situation has been admitted or presented to the public by respective Governments during the past 5 years.
Now, for the first time during this crisis, it seems that there is a chance that Reality may come into the public eye because an event has just taken place in the USA where over 1,000 top economists ( ncluding 15 Nobel Laureate prize winning economists) and other senior politicians and officials from all over the world have just signed a demand for a new bill called 'The Inform Act'. The proposed Act is designed to demand that the government acknowledges the dangers in continuing to ignore the debt building up and the serious impact on the people. They have affectively stated that unless this is acknowledged and affected the implications to the monetary system will be catastrophic.
Dr Lawrence Kotlikoff, the man who has proposed this bill and who is the Economics Professor from Boston University said "never in the history of this country (the USA) have this many top economists from all political persuasions endorsed a piece of legislation like this'' Dr Kotlikoff and his fellow economists all contend 'The country needs to do some honest accounting' and charges the government with 'disguising the true problem' . If the people do not wake up to the seriousness of this situation and ' somebody begins to dump bonds and interest rates go up and inflation takes off, the system is going to crash'
Listen to his interview with Greg Hunter at USA