America's Greatest Crisis Upon Us...Debt-to-GDP Makes It Clear

Zero Hedge -

Zero Hedge—Authored by Chris Hamilton via Econimica blog, America in the midst of the greatest crisis in its 242 years of existence.  I say this based upon the US federal debt to GDP (gross domestic product) ratio.  In the history of the US, at the onset of every war or crisis, a period of federal deficit spending ensued (red bars in graph below) to overcome the challenge but at the "challenges" end, a period of federal austerity ensued.  Until now.  No doubt the current financial crisis ended by 2013...

Why an Irish Whiskey Shortage — Years in the Making — May Soon Be Upon Us. It's sort of an age-old problem.