black-hole
After a large increase during the recent financial crisis and recession, public debt ratios are set to continue to rise over the next few years. The modern money mechanics made by the global banking system and founded by FED present a fascitic dept spiral, which end in a depression of the independend countries. A debt system made for the complete control of sovereign states. The report finally shows looming long-term fiscal imbalances pose significant risk to the prospects for future monetary stability.

“Our examination of the future of public debt leads us to several important conclusions. First, fiscal problems confronting industrial economies are bigger than suggested by official debt figures that show the implications of the financial crisis and recession for fiscal balances. As frightening as it is to consider public debt increasing to more than 100% of GDP, an even greater danger arises from a rapidly ageing population. The related unfunded liabilities are large and growing, and should be a central part of today’s long-term fiscal planning.”

The future of public debt: prospects and implications
by Stephen G Cecchetti, M S Mohanty and Fabrizio Zampolli
Monetary and Economic Department
March 2010

Bill Clinton admit that it was his fault to follow the derivative activity of Robert Rubin and Larry Summers. The Glass-Steagall Act agreed by Greenspans and Clinton 1999 reversed the devide of investment banks and commercial banks. This law was adopted after the world economic crisis in 1932.
(ignore the advertisement at the beginning)

Links
The future of debt markets
Slideshow of public debt
The end of money and the future of civilisation ebook
Interview Dr. Steven Keen – Future of debt deflation
The Public Debt – a Burden on Future Generations
Europe’s Web of Debt