Former US Treasury Official - US Financial System To Collapse

“I can point out three giant bubbles that threaten the remains of the American economy ... When these bubbles pop, the consequence is obvious:  The wipeout of the remaining wealth from bond and stock collapses, and a very strong domestic inflation from the rise in the import prices.”

Dr. Paul Craig Roberts continues... “The United States is now an import dependent country.  It doesn’t produce its own manufactured products, clothes, shoes.  These import items dwarf the import of oil or energy.  So what is the potential for happening when these bubbles burst is widespread unemployment, and a rapid increase in inflation, before which the economic policy has no known solution. 

... It is frightening, and it shows the extent to which the economic policy of the United States is misused in support of four or five big banks that are ‘too big to fail’ ... We now have one bank, JP Morgan, which has derivative exposure equal to the (entire) world’s GDP.... 

Full story - KWN audio interview

Nothing and no one would be safe anywhere.
  This type of situation is extremely dangerous.  The world has never seen it before.  There are no economic policy solutions.  You can’t deal with it by cutting spending because you already have high unemployment.

How are you (the Fed) going to contain the inflation?  Are you going to jack interest rates up and wreck what little is left of the economy?  The whole thing is a disaster waiting to happen.   And they (mainstream media and government officials) avoid it.  There is no talk about it.  It’s so obvious.  How can you not see it?  And yet they never mention it.  So I just feel compelled.  It’s my responsibility to mention it.”