One Of The Harvard Professors Looked Me In The Eye And Declared: “You’re Screwed.”

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Mr Donnelly went to Washington.

And all he brought back was this:

These experts [IMF, World Bank, Harvard, etc] knew that no country had ever repaid that much debt without being able to print its own money. They knew that without a significant reduction in the national debt, a lot of people were not going to get paid back the money they had lent us.

They knew that economic growth and large-scale job creation would be next to impossible with the current levels of household debt. They knew that a country whose GNP was still falling by 2.5 per cent in the fourth year of a crisis was most definitely not on the road to recovery. .

 

We’re Mad As Hell And Need To Show It (Stephen Donnelly TD, Sunday Independent)

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