A vicious upward debt spiral is gaining momentum. The budgets of most advanced economies, excluding interest payments, need 20 consecutive years of surpluses exceeding 2% of gross domestic product ? starting now ? just to bring the debt-to-GDP ratio back to its pre-crisis level.

2. Another Crisis Is Coming & It May Be Imminent ? Here's Why

Is there going to be another crisis? Of course there is. The liberalized global financial system remains intact and unregulated, if a little battered?The question therefore becomes one of timing: when will the next crash happen? To that I offer the tentative answer: it may be imminent. This article puts forth my explanation as to why that will likely be the case.

3. Lessons of 2008 Forgotten ? Debt Threatens to Undo the World Again

Little has been done in the past six years to restructure economies and cut debt i.e. learn the lessons of 2008. Because we've partially recovered from that traumatic period, that's led to complacency. All the while, the debt that caused the bust in the first place has compounded and threatens to undo the world again. Let's hope it doesn't come to that.

4. U.S. in Terminal Phase of Unprecedented Debt Spiral

Anyone that thinks that the U.S. economy can keep going along like this is absolutely crazy. We are in the terminal phase of an unprecedented debt spiral which has allowed us to live far, far beyond our means for the last several decades. Unfortunately, all debt spirals eventually end, and they usually do so in a very disorderly manner.

5. Economics Can't Trump Mathematics & the Math Says US In a Debt Death Spiral

The madmen who are responsible for the coming economic disaster continue to behave as if they can manage to avoid it. Violating Einstein's definition of insanity, they continue to apply the same poison that caused the problem. These fools believe they can manage complexities they do not understand. We are bigger fools for providing them the authority to indulge their hubris and wreak such damage.

6. When the Debt Bubble Bursts We're Going to See Economic Chaos So Get Ready ? NOW!

Never before has the world faced such a serious debt crisis. Yes, in the past there have certainly been nations that have gotten into trouble with debt, but we have never had a situation where virtually all of the major powers around the globe were all drowning in debt at the same time. Right now, confidence is being shaken as debt levels skyrocket to extremely dangerous levels. Many are openly wondering how much longer this can possibly go on. Here's my take on the situation.

7. What You Need to Know About the U.S. Budget Deficit & National Debt

Q: Don't laugh at me, but what is a deficit? A: It's actually not a dumb question. Here's why.

8. ?This Time is Different: Eight Centuries of Financial Folly? ? A Book by Reinhart and Rogoff

Highly leveraged economies, particularly those in which continual rollover of short-term debt is sustained only by confidence in relatively ill-liquid underlying assets, seldom survive forever, particularly if leverage continues to grow unchecked.

9. Gov't Debt Will Keep Increasing Until the System Implodes! Are You Ready?

Why are so many politicians around the world declaring that the debt crisis is ?over? when debt-to-GDP ratios all over the planet continue to skyrocket? The global economy has never seen anything like the sovereign debt bubble that we are experiencing today. This insanity will continue until a day of reckoning arrives and the system implodes. Nobody knows exactly when that moment will be reached, but without a doubt it is coming. Are you ready?

10. ?Ponzi Finance?: What Must Happen To Bring It To An End?

The Boston Consulting Group has issued a paper that recommends 10 steps that developed countries must take to end what they refer to as ?Ponzi finance' and to return to a sustainable growth path but I believe their recommendations to be but theoretical and impractical constructs. While I believe we face ? and will experience ? interesting, speculative, fragile, and very challenging and very likely life-changing times going forward, I believe that the only thing that will force developed country politicians to work for common purposes is a further global financial crisis. This article provides an overview and assessment of said paper and the rationale for my position.