Coming to America

The domino-like collapse of the economies of Iceland, Greece, Ireland, and, now, possibly Spain, is coming also to the United States.

One of the triggering mechanisms will be at the end of this month when two million idled workers, now collecting unemployment, will be dropped from the rolls. At the end of December, another two million workers will join the ranks of those who have exhausted their unemployment benefits and a total of 4 million Americans will be without unemployment checks and face destitution.

This will slowly put pressure on municipalities, which will then put pressure on individual states, with California and Illinois likely to be the first two states to default on their debts and declare bankruptcy. Read how this whole mess will play out here.The USD as a safe haven, you must be kidding.