{"id":5825,"date":"2012-03-25T22:08:07","date_gmt":"2012-03-26T02:08:07","guid":{"rendered":"http:\/\/www.pgm-blog.com\/?p=5825"},"modified":"2012-03-25T22:08:07","modified_gmt":"2012-03-26T02:08:07","slug":"is-the-west-spiraling-down-to-bankruptcy","status":"publish","type":"post","link":"https:\/\/www.pgmcapital.com\/nl\/is-the-west-spiraling-down-to-bankruptcy\/","title":{"rendered":"Is the West Spiraling Down to Bankruptcy?"},"content":{"rendered":"

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Dear\u00a0PGM-Capital<\/strong>\u00a0Blog readers,
\nDuring this weekend \u00a0we took some time to read the book “Der Staatsbankrott kommt<\/a><\/strong>” (The state bankruptcy is coming!<\/em>) by Michael Grandt, with the fitting sub-title
\n“Retten Sie Ihr Verm\u00f6gen, solange Sie es noch k\u00f6nnen!<\/strong>”
\n(Save your wealth as long this is still possible)<\/em>.<\/p>\n

Using lots of examples taken from Greece, Michael Grant shows that what’s happening there is only a foretaste of what will follow. \u00a0The book explains that the fear of a national bankruptcy is quite real. Government expenses that again and again turn out to be much bigger than desirable, the same as the almost unlimited printing of money as a consequence thereof, as well as the practically unlimited printing to ‘help out’ the ‘victims’, will have disastrous consequences for the inflation.<\/p>\n

The book has been written from a German perspective as a warning for the German consumer. The reality is, in our opnion, that in the Western World (USA, EU & Japan)<\/em>, it is precisely Germany, with a trade surplus, AAA credit rating and a high savings quota, \u00a0they will have to worry about the least.<\/p>\n

The USA with a trade deficit of US$124.1 billion<\/strong><\/span>, a current account deficit of
\nUS$473.4 billion<\/strong><\/span> and a Debt to GDP of over 100%<\/span><\/strong>\u00a0is spiralling down to disaster, which\u00a0will not be restricted to its own territory. Every country is in danger, and no one knows when it will happen.<\/p>\n

Grandt ask some fundamental questions with these grim perspectives in mind:<\/p>\n