The Looming Global Debt Crisis – By Dr. Jerry O’Driscoll

Please join us for this timely presentation on

A LOOMING GLOBAL DEBT CRISIS

with

Dr. Jerry O’Driscoll

The Ramada, June 6, 2017, 9:00 a.m.

Government debts at all levels in many countries have risen to alarming levels, leading some monetary experts to predict a global debt crisis. Dr. Jerry O’Driscoll will survey the growing debt that many industrialized countries, as well as Emerging Markets, have accumulated, particularly dollar-denominated debt incurred by foreigners. The risk is growing that these countries will be unable to repay the debt.

A country’s debt burden includes not only government obligations, but private debt (business and personal) as well. In the United States, not only is there a huge pile of government debt, but household debt just hit a record high. And, increasingly government entities at all levels are going deeper into debt, primarily driven by the perceived need to continuously increase entitlements, and compensation and retirement for government employees. The latter problem is particularly serious at the city/county level, as well as in states that now risk defaulting on debt (Illinois, for example).

As the burden of debt grows at all levels, more resources must be devoted to just servicing the debt. That leaves fewer resources for new investments that enhance productivity and stimulate economic growth.  Is there a way out of this conundrum, or must the world face the looming prospect of a global financial meltdown?

Dr. Jerry O’Driscoll is a senior fellow at the Cato Institute in Washington, D.C. He was formerly a VP and director of policy analysis at Citibank, and, before that, VP at the Federal Reserve Bank of Dallas. He is a widely read expert on international economic and financial issues, writing for the WSJ and other business publications, and appears regularly on national TV.

Please join us for what will be a very interesting discussion. A full breakfast will be served ($15 Members, $25 Non-Members, and $10 for students with ID and military personnel in uniform; free for WWII Veterans). We recommend that you arrive by 8:30 to enjoy some breakfast, coffee and conversation.

You are encouraged to RSVP by clicking HERE. For your convenience, we accept cash, check and credit card payments for both the breakfast and membership fees.