This December 2003 article is translated from the German by local translator, Marc Batko
A bankruptcy occurs when the debtor can no longer afford his debt service. In the US economy, spending increases strongly while revenues structurally fall. In the medium term, the US is unable to pay for its debt service! This will lead to worldwide shortfalls, especially for countries whose revenues come from the US [for example, oil] or where the US is the second currency. Seen historically, the US in the last 200+ years gained the reputation of an economic power and a secure haven. This was based on its export power and geographic position. A creeping erosion of its economic power and security has occurred unnoticed by the general public.
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