The Point of No Return

President Reagan appointed a guy who helped to advise him on the budget back in 1981. Today he is speaking out....and basically he says we are financially doomed. We have reached the point of no return and it will spiral out of control until a massive global bond crisis overtakes the globes finances.

"The Cold War is long over," he continued. "The wars of occupation are almost over and were complete failures -- Afghanistan and Iraq. The American empire is done. There are no real seriously armed enemies left in the world that can possibly justify an $800 billion national defense and security establishment, including Homeland Security."

Short of that, he suggested, the United States has "reached the point of no return" with its artificial creation of wealth, and will eventually face a sharp economic decline.

But with the US national debt ballooning past $14 trillion in recent days, even a debasement of the military-industrial complex might be too little, too late.

Some analysts have warned the next debt crisis could be municipal bonds, where a $2 trillion market bubble currently exists. One, who correctly predicted the Citigroup credit crunch, even suggested that over 100 US cities may default in the process.

See it here; http://www.rawstory.com/rs/2011/01/america-has-reached-the-point-of-no-return-reagan-budget-director-warns/

Hang on folks! If we are still here because the rapture hasn't happened yet....it's going to be a bumpy ride...because what this guy says is VERY likely to come true.