The leaders of the Group of Seven Industrialized Nations or G7 are holding an emergency meeting in Germany in a futile attempt to avoid their inevitable bankruptcy. The leaders talk about Greece, the Ukraine, China, the Middle East and other matters as if somehow they are still in control. The leaders need to understand that there is a thing out there called reality and, no matter how long you try to avoid it, it has a way of catching up to you. The fact is that, with the exceptions of Canada, Japan and Germany, the G7 nations and their allied Western states have been running a deficit with the rest of the world for the past 40 years. The elephant in the room that nobody talks about is the fact the biggest debtor of all is the Corporate United States.
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