more light reading -- Warning of ‘Financial Meltdown’ - US Senator Gregg on exit

The US is heading for a debt-driven “financial meltdown” within five to seven years, according to Judd Gregg. . .

In a robust and at times testy video interview for the Financial Times’s View from DC series, Mr Gregg also complimented China for showing rising alarm about the US’s mounting levels of public debt.

“We have had China say that they are looking for other places to put their reserves and that is probably a smart decision on their part,” said Mr Gregg, who will not seek re-election in November.“So the warning signs are pretty clear and the path is unsustainable and, at this point, unless we take different actions, unavoidable.”. . .continues