MidnightWatcher – Prophecy in Motion

By Margo D. Beller – “The U.S. is approaching a financial crisis worse than 2008, Jim Rogers, chief executive, Rogers Holdings, warned CNBC Wednesday.

‘The debts that are in this country are skyrocketing,’ he said. ‘In the last three years the government has spent staggering amounts of money and the Federal Reserve is taking on staggering amounts of debt.

‘When the problems arise next time … what are they going to do? They can’t quadruple the debt again. They cannot print that much more money. It’s gonna be worse the next time around.'” Read more.

Worries grow that U.S. could default on debt – “The possibility that the United States could default on its debt — if only for a few days — is starting to alarm the global community even as the idea gains favour among Republicans as a way to force Washington to cut runaway spending. Fitch Ratings agency warned Wednesday that U.S. treasury bonds, seen worldwide as a risk-free investment, could be labelled ‘junk’ if the government misses debt payments by Aug. 15.” Read more.