One of the big problems in America's economic polarization and shrinkage is that pensions can't be paid. So there are going to be defaults on pensions here, just like Europeans are insisting in rolling back pensions. You can look at Greece and Argentina as the future of America.

So, what people are actually left with to spend is maybe 25 to 30% of their income on goods and services, after paying taxes and after paying the FIRE sector (Finance, Insurance, Real Estate). Whether it's housing insurance or mortgage insurance. So there's an idea of distracting people. Don't think of your condition. Think of how the overall economy is doing. But don't think of the economy as an overall unit. Think of the stock market as the economy. Think of the rich people as the economy. Look at the yachts that are made. Somebody's living a lot better. Couldn't it be you?

Most of the European leaders look at themselves as having to follow the United States, because if the US opposes them, there will be a regime change.

Europe is creating the flight of refugees that's tearing it apart politically, and leading rightwing nationalist parties to gain power to withdraw from the Eurozone.

You'll have to have the governments sell off all of their public domains; sell off their railroads, sell off their public land. You'll essentially have to introduce neo-feudalism. You'll have to roll the clock of history back a thousand years, and reduce the European population to debt slavery. It's as simple a solution as the Eurozone has imposed on Greece. And it's a solution that the leaders and the banks are urging for responsible economists to promote for the population at large.

The United States Government has fought against creation of an international court to adjudicate the ability of national economies to pay debts.

To the deficit commission, a depression is the solution to the problem, not a problem.