As national debt increases and economy produces less, we came closer to an economic collapse.
The US dollar is not going to be the world reserve currency any longer. Foreign countries and lenders want US funds in other currencies now. They don't want any more US dollars. That should give everyone something to think about. Fiat currency in the US is crashing.
$13 trillion national debt probably equates to more like $30 trillion in bad debts. Debt-to-equity is much greater than the simple national debt number. More recently, our debt was increased as government spending ramped up to give a false feeling of security.
Banks are crashing around the country, but all of the big banks are going to crash hard soon enough. Looking back, stories like these were spot-on and give us a good perspective looking forward. Bank of America is on the verge, looking to kill 40,000 jobs. This is too regular of an occurrence, but is definitely a sign of the times.
The world is going to break down as nations decouple from each other to buffer the collapses of other nations.
No comments:
Post a Comment