The U.S. is now a failed state and what to do about it
July 27, 2Q2Q Note to readers, this is the last of the pre-written summer reports. Regular reporting will resume with the August 3rd edition. The undeclared bankruptcy of the United States of America Corporation on February 16th and the subsequent chaos is a sign to the world that the U.S. under its current management is a failed state. This week we will look at how this came about and what to do about the situation. First of all, according to various estimates, including the Atlanta Federal Reserve Board, U.S. GDP has fallen by 50% this year. The U.S. also, (again according to places like the FRB) has unfunded liabilities of over 200 trillion dollars. This includes external debt, government debt, unfunded pension liabilities, etc. If GDP has really fallen by half to about $10 trillion it means the debt is over 20 times U.S. annual income. It means if all Americans spent half their money paying off the debt, it would take 400 years to do this. There are other signs of deep dysfun...