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‘We’re going to have to have a severe recession if we’re ever going to build a viable economy’: Here’s why one market expert says the US is doomed to default on its debt no matter what

Trader scared

  • Peter Schiff, the outspoken CEO and president of Euro Pacific Capital, thinks the gargantuan amount of debt the US is carrying is primed to default.
  • He calls repayment “impossible” and sees this mess ending in either an “honest” or “dishonest” default.
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For one reason or another, the towering amount of debt the US has racked up over the years seems to be of little concern to market participants and politicians alike.

Currently, that figure tops $22 trillion — and is growing fast. What’s more, as modern monetary theory continues to gradually inch its way read more >>>

Source:: BusinessInsider.Com