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When adding in all of the money owed to cover future liabilities in entitlement programs the US is actually in worse financial shape than Greece and other debt-laden European countries... Much of the public focus is on the nation's public debt, which is $14.3 trillion. But that doesn't include money guaranteed for Medicare, Medicaid and Social Security... The government also is on the hook for other debts such as the programs related to the bailout of the financial system following the crisis of 2008 and 2009, government figures show. Taken together, Gross puts the total at "nearly $100 trillion

When it comes to the U.S. Dollar Jim Rogers is "incredibly pessimistic about the long term, or even the intermediate term future." He's also long the dollar and feels there are "plenty of reasons that the U.S. dollar could rally." How can he reconcile the two? Easy: he's a trader. The legendary investor and author of multiple books on trading, global economics and even advice for his children isn't one to mince words nor hedge an opinion. He's both blunt and clear about his feeling that printing endless money will end in tears for the greenback. He just doesn't seem...

NYU Professor Nouriel Roubini has seized the headlines again this morning, warning that a "perfect storm" of economic disasters may smash the global economy in 2013. Roubini's perfect storm consists of four factors: -The U.S.'s basket-case of an economy and budget deficit, -A potential slowdown in China, -European debt restructuring and -Stagnation in Japan. Roubini says there's a one-in-three chance that these factors will clobber growth in 2013.

Chance of Another Round of Easing by Year-End: Roubini Published: Saturday, 11 Jun 2011 | 6:09 AM ET By: Li Anne Wong CNBC.com There is a chance the U.S. Federal Reserve could unleash another round of quantitative easing by the end of the year, according to renowned economist Nouriel Roubini. In an interview with CNBC on Saturday, the head of Roubini Global Economics said the probability of QE3 will become “significantly higher” if U.S. economic weakness persists and the stock markets correct 10 percent or more. “Especially because we cannot do another round of fiscal stimulus, the pressure is going...

As lawmakers scramble to cut a budget deal and avoid defaulting on U.S. debt, the head of a top Chinese rating agency claims it's too late. Guan Jianzhong, president of Dagong Global Credit Rating Co. Ltd., reportedly told state media that the United States has already defaulted by letting the U.S. dollar weaken. "In our opinion, the United States has already been defaulting," Guan was quoted as saying, according to AFP. China, likewise, has long come under criticism for allowing its currency to weaken. But while Dagong Global is known for being tough on the U.S., Guan's words carry extra...