Economist Hummel Says Default of U.S. Treasuries is Likely!

The economic forecast for this country continues to look bad. Jeffrey Rogers Hummel says that a default on U.S. treasuries is likely. Between the FDIC's health, China dumping dollars and this information, will we ever see some positive economic news?

Many predict that, instead, the government will inflate its way out of this future bind, using Federal Reserve monetary expansion to fill the shortfall between outlays and receipts. But I believe, in contrast, that it is far more likely that the United States will be driven to an outright default on Treasury securities, openly reneging on the interest due on its formal debt and probably repudiating part of the principal.

Source: Library of Economics and Liberty