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Old 11-22-2022, 02:53 PM
 
Location: Flyover part of Virginia
4,231 posts, read 2,418,893 times
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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.
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Old 11-22-2022, 05:55 PM
 
Location: Round Rock, Texas
12,862 posts, read 13,161,297 times
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Yep.
But Paul Krugman sees nothing.
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Old 11-22-2022, 06:00 PM
 
Location: Flyover part of Virginia
4,231 posts, read 2,418,893 times
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Quote:
Originally Posted by ScoPro View Post
Yep.
But Paul Krugman sees nothing.
Give him another Nobel Prize dammit!
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Old 11-22-2022, 06:09 PM
 
Location: Knoxville, TN
10,648 posts, read 5,484,786 times
Reputation: 20954
Quote:
Originally Posted by Taggerung View Post
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.
We had a chance to avoid this by letting the "too big to fails" fail in 2009.

Too late now. It is baked into the cake. I wish I had gold.
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Old 11-22-2022, 06:18 PM
 
Location: Flyover part of Virginia
4,231 posts, read 2,418,893 times
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Quote:
Originally Posted by Igor Blevin View Post
We had a chance to avoid this by letting the "too big to fails" fail in 2009.

Too late now. It is baked into the cake. I wish I had gold.
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.
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Old 11-22-2022, 06:43 PM
 
10,864 posts, read 6,315,533 times
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Silver is byproduct of other minerals,so it is abundant .
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Old 11-22-2022, 06:47 PM
 
Location: Flyover part of Virginia
4,231 posts, read 2,418,893 times
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Quote:
Originally Posted by mojo101 View Post
Silver is byproduct of other minerals,so it is abundant .
Silver is anything but "abundant." It is only artificially abundant, because they're are more than 400 paper ounces of silver for every one ounce of real silver.
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Old 11-23-2022, 07:52 AM
 
51,577 posts, read 25,487,313 times
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I've been hearing about the collapse of the economy for decades now.

Just sayin'.
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Old 11-23-2022, 07:57 AM
 
Location: Flyover part of Virginia
4,231 posts, read 2,418,893 times
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Quote:
Originally Posted by GotHereQuickAsICould View Post
I've been hearing about the collapse of the economy for decades now.

Just sayin'.
Collapse happens in two stages- gradually, and then suddenly. We are nearing the end of the 'gradually' stage.
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Old 11-23-2022, 08:07 AM
 
1,964 posts, read 1,260,900 times
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Quote:
Originally Posted by Taggerung View Post
There will be no "slow, gradual" unraveling of the system either- because what rises exponentially, must decline exponentially.
"must decline exponentially"? That's not true at all.
An ordinary savings account with compounded interest has exponential growth.
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