Just how bad is it? Is the U.S. becomming a third-world nation? Well, Bennet Sedacca, president of money manager Atlantic Advisors LLC in Winter Park, Florida wrote the following in a report (source) issued yesterday:
"Whether it is anecdotal or statistical evidence, I see inflation everywhere, and this is where the financial tsunami cometh. `A battered, over-indebted consumer, if forced to retrench, could create even more problems for the banking system as loan delinquencies would begin to rise even further. All sorts of delinquencies are rising. This is now a systemic issue.''