IOUSA

"Everything is out of whack. We can’t be the policeman to the world and provide a safety net for all citizens if we don’t have the tax rates or the income to the government that supports all that. It seems like common sense, and it should be common sense. But something happens when you take it from a discussion that you and I might have to the political level, which is often just driven by emotion and public speech. Somehow the desire, the continued promising that the government can solve all problems, meets with jubilation and boasts. And people want to just keep going, and they never want to actually accept that at some point the unsustainable has to end. I mean, that’s the nature of the world.

It gets frustrating to think that we’re at a point where politicians are really going to have to work together to come up with solutions that are going to be unpopular to anyone - and I struggle to think that we’re even capable of putting together a set of solutions that will work. It might be too late."

So states Addison Wiggin, executive publisher of Agora Financial and executive producer of I.O.U.S.A. Strong words from a man who has been writing for over ten years about how our debt-inebriated economy will eventually collapse upon itself - but is still shocked and saddened to see his predictions play out in reality. He sees the global economy to be at a point of massive destructive transformation - but full of opportunity for informed investors, and, ulitmately, for the system that succeeds it.

Click the play button below to listen to Chris' interview with Addison Wiggin (runtime 41m:50s):

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In this podcast, Addison expounds on:  read more »

• World Economy Falling Faster Than in 1929-1930 (I wouldn't miss these charts)
• NYSE Defaults On Small Gold Bars! (H/T DamTheMatrix)
• Report: Stress Test Results Delayed
• Top CEO Poll: Fire People As Fast As Possible
• Wasting a Good Crisis: Result - $200 Oil
• Max Kaiser's Latest - keeping his eye on the ball...(Videos)
• Good Bank(er) vs. Bad Bank(ers)
• Report: IMF to Warn of $4 Trillion in Losses
• I.O.U.S.A. DVD
• More Reasons to Worry About Inflation
• Cyber"Security" Legislation (H/T PineCarr)
• Decoupling Set to Increase (H/T PineCarr)
• Happiness Index: Nebraska Nabs Top Spot (H/T Christopher Peters)   read more »

• CBO projects $1.2 trillion deficit for 2009 
• Congressional Budget Office The Budget and Economic Outlook
• Obama: Financial Markets Face 'Substantial Overhaul'
• Paulson Says GSEs Should Become Public Utility-Like Firms 
• Fed faces tough task ending emergency support
• The Fate of Paper Money 
• U.S. debt is losing its appeal in China  
• Government Panic Could Herald Dollar Panic 
• Detroit School Lacks Toilet Paper, Light Bulbs 
• FACTBOX-U.S. economic report shows poor hit hard 
• Budget gloom will toughen resistance to stimulus 
• CNN to Air Timely Documentary and Discussion About U.S. Economic Challenges 
• Real-Estate Executive Found Dead in Apparent Suicide 
• U.S. companies face $409 billion pension deficit: study 
• Italian Pensions Sapped by Private Funds Bush Backed
• Gold Demand (Chart)