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Consider this: just prior to the 2008 crisis, the total global debt was right around $150T. In 2020, it had doubled to $300T. Think about how insane this is for a moment- it took 6000 years of civilizational development for the global debt to reach $150T. It took only 12 years thereafter to add another $150T. This is terminally unsustainable. There cannot be endlessly expanding debt in a finite realm. Eventually, something must give- and something will give. There will be no "slow, gradual" unraveling of the system either- because what rises exponentially, must decline exponentially.
When this debt bubble finally bursts, once and for all, it will happen so quickly and abruptly, no one will know what hit them. The governments and central banks will not even be able to react in time. Everything will just "freeze," and never be unfrozen. This is the crisis I believe we are heading towards. The "world as we know it" has been living on borrowed time since at least 2008. Well, now that borrowed time is coming to an end, and it must be paid back, in full, with interest, at loan shark rates.
The US economy probably has the highest volume of buy/sell transactions, private and public, settled in money.
Question is how efficient that system is.
Japan and Italy, for example, have been bobbling along for decades with oversized money supply/debt compared to annual production, though certainly with help from the global economy. But what about compared to national wealth, you know, an apples-to-apples comparison?
To be sure, many have pi$$ed in the well of the US economy over the past 30 years, but it is still drinkable and not too late to make it a little less contaminated to survive maybe until the end of this century, at least. Which is like forever in human terms.
The US economy probably has the highest volume of buy/sell transactions, private and public, settled in money.
Question is how efficient that system is.
Japan and Italy, for example, have been bobbling along for decades with oversized money supply/debt compared to annual production, though certainly with help from the global economy. But what about compared to national wealth, you know, an apples-to-apples comparison?
To be sure, many have pi$$ed in the well of the US economy over the past 30 years, but it is still drinkable and not too late to make it a little less contaminated to survive maybe until the end of this century, at least. Which is like forever in human terms.
Nope. There is no more pushing these problems off onto future generations. There is no more kicking the can down the road- the world is all out of road. This game of lend, extend and pretend will not go on past 2025. And also, the longer the unavoidable reckoning is delayed, the harsher it will be when it arrives. Thinking that the grand ponzi scheme can go on until the end of the century is laughable at best. If there are any people around in 2100, most of them will be or will have been cannibals.
Nope. There is no more pushing these problems off onto future generations.
Just re-value gold times 10, and viola!.
Many don't know we came off the gold standard because our government was actually insolvent 50 years ago. Actually, the U.S.(unless they are lying again)still holds the greatest reserve.
A few good sales going this weekend on precious metals; but those premiums on physical gold bullion still way too high. Silver is still around 20-25%, but so cheap who cares.
Just re-value gold times 10, and viola!.
Many don't know we came off the gold standard because our government was actually insolvent 50 years ago. Actually, the U.S.(unless they are lying again)still holds the greatest reserve.
A few good sales going this weekend on precious metals; but those premiums on physical gold bullion still way too high. Silver is still around 20-25%, but so cheap who cares.
The "premiums" are merely the market price of the real metals. The "spot" price is simply what you pay for a piece of paper that says 'gold ' or 'silver' on it. I want the "premiums' to keep getting higher, to expose the utter fraud of the paper markets.
Precious metals are the only place to be. All paper assets (stocks, bonds, currencies, and real estate) are going to get wiped out. Any form of wealth represented by a piece of paper or some numbers on a screen will go to zero or near zero.
BTW, look into silver instead of gold. Silver is everything gold is (and much more), not to mention it is far more affordable. Gold is an expensive luxury for just about everyone.
I've been living my financial life based upon your thoughts above ^^^ for years now...paper can become worthless overnight. So, we live debt-free, & asset heavy....a large $1M+ paid off home anchors the assets.
1 problem I have though is I have a lot of $ in retirement accounts, which is paper even if its invested only in GLD, because unless I take possession of the gold, its potentially worthless.
If I withdraw it all, I pay huge tax penalties, so it sits there, mostly uninvested for now. I'm unsure how to escape this trap other than paying the penalties, and drawing them down gradually ovr time to spread out the tax impacts.
I have a large safe deposit box stuffed full of American Eagle Silver coins in case the collapse happens in my lifetime. Its so heavy, they had to give me a box along the floor. I've had it for 20+ years. I like how they are worth an amount that is easily spent...say $35/each. Gold coins are too valuable to transact in a crisis.
If you look at the debt vs value of America in dollars which is around 225 trillion it really isn’t a lot ..in fact it would be a pretty healthy mortgage level
Nope. There is no more pushing these problems off onto future generations. There is no more kicking the can down the road- the world is all out of road. This game of lend, extend and pretend will not go on past 2025. And also, the longer the unavoidable reckoning is delayed, the harsher it will be when it arrives. Thinking that the grand ponzi scheme can go on until the end of the century is laughable at best. If there are any people around in 2100, most of them will be or will have been cannibals.
You use no economic terminology. You use popular hyperbolic expressions
What are you even talking about?
You sound like a commercial for a magic hair-loss product.
I feel like covid was implemented by the government in order to do a complete reset. But they didn't anticipate the riots and chaos that ensued. They thought everybody will lose their jobs and become dependent on government handouts for them to bankrupt many companies then the world government will be able to consolidate all of the sovereign debts globally. It was supposed to be the great reset. But technology prevailed and many companies did better than others so it created a even bigger debt bubble.
It just seems too convenient that a global disease came out when Trump was the President. When covid or SARS1 came out during the Obama tenure, the same Dr. Fauci went to Wuhan labs to validate the efficacy of the vaccine said that "masks, proper hygiene, and other protocols will work better than mass vaccinations." That's what Fauci said back in the early 2000s. He is now just an agent of the elites.
I feel like covid was implemented by the government in order to do a complete reset. But they didn't anticipate the riots and chaos that ensued. They thought everybody will lose their jobs and become dependent on government handouts for them to bankrupt many companies then the world government will be able to consolidate all of the sovereign debts globally. It was supposed to be the great reset. But technology prevailed and many companies did better than others so it created a even bigger debt bubble.
It just seems too convenient that a global disease came out when Trump was the President. When covid or SARS1 came out during the Obama tenure, the same Dr. Fauci went to Wuhan labs to validate the efficacy of the vaccine said that "masks, proper hygiene, and other protocols will work better than mass vaccinations." That's what Fauci said back in the early 2000s. He is now just an agent of the elites.
The COVID pandemic did give the Feds a convenient cover to bail out the banks/financial system that was starting to have major problems (repo market) at the time.
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