WELCOME MURRAY T. HOLLAND
Murray T. Holland
Murray T. Holland is a resident of Dallas, Texas. He graduated in 1975 from Washington and Lee University with a B.S. in Chemistry and Biology. He earned an M.B.A. from the University of Virginia in 1978 and a law degree from Washington and Lee University in 1980. During the 1980s, he practiced corporate and securities law with Akin, Gump, Strauss, Hauer and Feld in Dallas, Texas. In 1987, he became an investment banker in New York with First Boston and later moved to Kidder, Peabody & Co. where he was a Managing Director. In the early 1990s, he started the private equity firm of Convergent Associates, based in Dallas, Texas.
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Guest post
Will The U.S. Go Bust?
Will the government go bust? This is the question that everyone would like answered. America is in very bad financial shape, maybe the worst it has ever experienced. Even after World War II, when the U.S. debt-to-GDP ratio was about 120 percent, the government was able to reduce its deficit to essentially zero without a massive depression, but it took 35 years to get that ratio down to a respectable 35 percent.
The United States is already caught in the first jaw of the Debt Trap because the economy is dependent on the deficit spending of the federal government. If the federal government instantly balanced the budget by either spending reductions or higher taxes, it would instantly reduce GDP by 4 percent, and this would put the United States in a severe recession.
When interest rates start to escalate, which they will as the debt continues to accumulate, the interest expense on the national debt will take up more and more of the budget, leaving less and less for other operating items such as military, medical care, and social security. Interest expense will become the largest budget item in the federal budget.
Debt Problem Not Created Overnight
The federal government debt problem did not happen overnight. It was not caused by some catastrophic event like a banking system meltdown, and no one stole all the money and ran off with it. The problem has been one of slow accumulation of more government regulation, spending, and commitment to do more things for people. The administrations and agencies referred to previously were not created in a single day. They were created one at a time over the last 80 years. The funding programs were also not created in a day. To normal citizens, the slow creep of more and more spending and regulation by the government has gone unnoticed. We each go about our everyday business and do not pay attention to the daily activities of Congress. This is simply human nature. Congressional actions are also human nature. U.S. citizens elected representatives to go to Washington and spend money…and that the congressmen and senators have done. Most people in government want to do something “for the country” and “for the people,” which inevitably leads to spending Other People’s Money.
ABOUT THE BOOK
Our government debt is rising every day. Our population is shifting as more people retire and fewer people are able to find work. Our social programs, including the Affordable Care Act, are only adding to our financial burden, and rising taxes are hindering economic growth. We are a nation in the red. “A Nation In The Red” by Murray T. Holland is a powerful wake-up call to leaders, investors, and citizens. Holland’s research reveals the surprising truth about our national debt – and what we can do about it.
“A Nation In The Red” presents a reasoned, straightforward approach to one of the most controversial issues of our time. You’ll also discover the fascinating psychological reasons that have led to the creation of our debt trap, you’ll learn about the 2,200 federal programs that we’re all paying for, and you’ll find five ways to reduce our nation’s debt, some of which stand as a viable solution to our country’s problems. In the book, Holland reveals:
· How large our debt really is – and is heading to be: It is far worse than previous calculations or projections – it is actually $19 trillion and may well be over $33 trillion in just ten years.
· How Congress and people on the street think “it can’t happen here,” but it can and will happen here.
· What the debt truly means to individuals, businesses, and the nation — and takes us through the doomsday devastation a debt out of control can unleash on us.
· How individuals and businesses can actually contribute to the solution – and how to best insulate themselves from a looming depression if Congress fails to act.
· Why just a small increase in the interest rate — which is bound to happen given the 50-year average is an annual rate of 6% — will more than double the amount of interest paid, and why that amount will swallow 25% of our tax revenue in the near future.
· Why the U.S. has, out of 183 largest economies, the 9th worst debt-to-GDP ratio – and why only two nations that have ever had a ratio worse than our 121% — averted a depression (but most experience a depression like Greece, Portugal, and Spain or long-term recessions like Japan, France and Italy).
· There are only five options for countries with our level of debt– and then recommends his strongest, viable solution – and even that will take 30 years to unfold in order to get us back to where we were five years ago.
· What the Federal Reserve must do – including its new chief – to steer the country properly.
· Why moms and dads, particularly with children in their teens, twenties and thirties, are the key to solving this mess.
Holland wrote the book as a call to action for the nation to take responsibility of this impending danger. He started to conduct research in wanting to know the impact of the national debt on his investments. He wrote it like he would an investment banking study. He ended up spending over three years researching the history of government defaults, what governments in the past and present do when they find themselves in this precarious position, how they got into the mess, what affect government debt has on the country’s economy and currency and how only two countries have ever gotten out of debt this high.
He He believes his book will:
· Educate the public and inform them of the debt trap the United States is in.
· Mobilize businesses, citizens and Congress to take action.
· Provide a complete analysis of the federal debt bomb and the implications for every American.
· Show why we are on the same path as Spain, Italy, Portugal and Ireland – all economic busts.
· Reveal why bailouts, printing money, borrowing more, reworking loan terms, or defaulting are not realistic options to avoid the debt meltdown.
· Explain how to grow the economy but not overheat it – and why coupling this with expense-cutting, avoiding tax increases, and slicing government regulations can put us back on a tract to growth.
BOOK DETAILS:
Genre: Finance, Free Enterprise, Economics-General
Publisher: McGraw-Hill; 1 edition
Publication Date: October 23, 2013
Number of Pages: 272 pages
ISBN-10: 0071829792
ISBN-13: 978-0071829793PURCHASE LINKS:
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James LePore is the author of five other novels, A World I Never Made, Blood of My Brother, Sons and Princes, Gods and Fathers, and The Fifth Man, as well as a collection of three short stories, Anyone Can Die. In addition to writing thrilling works of fiction, he is an attorney who has practiced law for more than two decades and an accomplished photographer. He lives in South Salem, NY with his wife, artist Karen Chandler. For more information, visit his website:
Carlos Davis writes and produces films, among them the Emmy nominatedRascals and Robbers with David Taylor and the cult favorite Drop Dead Fred with Tony Fingleton. He lives in New York City.
