How is this Debt going to be Paid?
The global debt crisis is something that is not going to just disappear, and I find it very strange that no one seems to be too worried about this. The current global debt is at around $220 trillion, the unfunded liabilities of the United States alone is around $150 trillion, that's 10 times the GDP, it's an unimaginable number and there is no way this can continue. If you're one of those people with the cute meme about who does the world owes money to, this isn't for you, go back the facebook and share a selfie, basic math is beyond you.
"The debt question is a great way of figuring out who is actually worth talking to, and who is just making virtue signalling noises with their yappy holes"
Since the creation of the US Federal reserve national debt has increased 5000 times, the problem is not only the the US but also in Europe. If you're wondering how the American economy will affect you? Keep in mind that the US dollar is the world reserve currency, every country in the world has to hold dollars to be able to buy oil, you've heard of the petrodollar.
There are only 2 solutions to this utter cluster fuck that is heading our way like an earth killing asteroid. The first would be to default and let the cards fall where they may causing a complete crash of the banking system. This is unfortunately an inevitable consequence of the debt problem we already have, but thankfully we have a decentralized crypto currency which could potentially take it's place.
The other option is to continue with exactly what they are currently doing, just print more and more money and artificially keep the interest rate low. This will have pretty much the same outcome at the first only so much worse, think Venezuela on steroids. Make sure you get out of debt right now, live within your needs.
Cheers guys, thanks for reading, drop some comments and tell me what you think about all this.
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It is interesting to follow the developments. I think that within 2 years a shift will take place and a heavy correction on all financial markets will trigger fireworks.
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Yeah the next 2 years should be very interesting, I have a feeling it might just happen a little sooner...
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This post received a 2.1% upvote from @randowhale thanks to @morkrock! For more information, click here!
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Good article. I liked the Stefan Molyneux vlog and some of the other graphics on this story. I think they'll keep trying to kick the can down the road. Unfortunately for them, they're now kicking the can up against the wall because this debt is now being dumped by our bigger creditors. Only the ESF and Federal Reserve are buying our debt. It's game over!
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Yes you're totally correct, I honestly think we are close to a global correction, and it's not going to be pretty.
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Good article my friend.
My debt is almost at this though lol
Upvoted
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Hahaha, thanks bro.
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This is so true and most people think its all hunky dorrie out there with no clew whats heading our way . I think that is even more scary all the unprepared people and if you try and educate them they look at you if your are a loonie .
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Something is coming our (humanity) way... I feel it in every cell of my body. Financial crises may be the cause or result or both. Just waiting...
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"A storm is coming."
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I am of the idea that they will continue to create money from the air as long as possible. Just some great event will make everything crumble like a house of cards. They will seize the event as it will give them the perfect excuse. And the cryptos will take their place.
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This post has received a 4.72 % upvote from @booster thanks to: @morkrock.
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Congratulations! This post has been upvoted from the communal account, @minnowsupport, by morkrock from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews/crimsonclad, and netuoso. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
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