We are facing a very serious crisis in the year ahead. There is no changing the course of government. They will continue to borrow every year. This is far worse than printing money and it is why we will not see hyperinflation. This is actually the greatest transfer of wealth in the history of human existence. This is not Marxism, but Marxism squared. We are not taking from the rich and giving to the poor. There is no paying your “fair share” in any reasonable manner. We are taxing and spending our resources to keep the debt rolling. This is systemically destroying the productive forces within society and transferring that to the bondholders. This is why everything will collapse. It is not the leverage problem of 2007, it is the bloating of pretended pensions that all presume Sovereign Debt is less risky that corporate paper and stocks.We are in a serious state of affairs – see Manipulating the World Economy.