For OpEdNews: Stephen Lendman - Writer

America Facing Depression and Bankruptcy - by Stephen Lendman

Long-time economic, political and market analyst Bob Chapman publishes the International Forecaster, offering incisive analysis absent through mainstream sources, especially important now given America's deepening economic crisis getting harder to conceal as evidence mounts.

His August 25 issue says the following:

"Twenty countries (including America) are headed into bankruptcy and more will follow. That brings up the subject of state debt in the US. America has been in an inflationary depression for 18 months. States have been cutting back for two years," but still face huge budget gaps required to be closed....2011 will be a terrible year (with) 80% of states expect(ing) deficits of more than $200 billion. 2012 looks even worse." Most worrisome, "there is no recovery and there never has been....the US economy and financial system is comatose." The worst is yet to come and will hit hard on arrival. Read More

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