Big banks corrupting, robbing people, nations into dark medieval ages

There is no question that big banks working closely with and paying off our elected representatives to remove regulations on the books caused the current crisis and much of the current government operating deficit.

there are things we can do --- like cutting the defense budget (over a trillion dollars annually once you add in the costs of our intelligence services and the Department of Homeland Security) back to its level of just fifteen years ago which will save close to $700 billion a year.

But first we must limit the lobbying power of the defense industry.

The amount of sovereign debt in the world, approximately $35 trillion and on its way very quickly to becoming $50 trillion will make the $3 trillion subprime mortgage crisis seem like a minor tremor compared to the major devastating economic earthquake to come.

A rough cut rule of thumb is that countries typically get into trouble when their total debt exceeds their entire GDP. The US, France, Germany and the UK, as well as most of the other European countries will very quickly exceed this dangerous threshold in the very near future. Japan is already there.

John R. Talbott: The Next Crisis Will Be Ten Times Bigger