China Repeats Our Warnings About Treasuries Something is about to break. And even if you think you’re ready for it, you’re not. Before the end of this decade, the U.S. federal government and the entire banking system will face its biggest crisis since 1933. The size and scope of Americans’ dependency on the government – which has grown consistently, year after year, since President Lyndon Johnson’s “Great Society” programs – has overwhelmed the government’s ability to fund th

One of the most potent and underappreciated forces responsible for the downfall of the most powerful empires throughout history has been debt. While military defeats, political upheavals, and external invasions often dominate historical accounts of the fall of great powers, excessive debt—the "Empire Killer"—has quietly but relentlessly eroded the foundations of empires across the centuries. From Rome to the Soviet Union, the over-extension of resources, poor financial manage