Charles Goyette, author of Red and Blue and Broke All Over, discusses the perfect storm of economic hardships due to hit early next year; the meaning of “fiscal cliff;” why China’s US treasury bond holdings are more legitimate than the Fed’s; the multi-trillions spent on national security since 9/11; the bipartisan refusal to cut spending on empire; the effect of rising interest rates on government debt servicing; and the ridiculous headline-driven equity markets.

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