GIM Founding Member & Mod.
- Oct 15, 2012
Published on Jan 29, 2019
Shocking video of the imminent economic collapse and the $66 trillion dollar debt crisis.
The borrower is the servant of the lender, and one of the primary ways that the elite keep the rest of us subjugated is through the $66 trillion dollar mountain of government debt that has been accumulated. Government debt hit $66 trillion dollar through the end of 2018, or about 80 percent of global GDP, according to Fitch Ratings. This $66 trillion is now almost twice as high as at the end of 2007. Every single day, the benefits of our labor are going to enrich somebody else. A portion of the taxes that are deducted from your paycheck is used to pay interest on government debt. A portion of the profits that your company makes probably goes to servicing some form of business debt. And most Americans are continuously making payments on their mortgages, their auto loans, their credit card balances and their student loan debts.
The world has never seen anything like this mountain of debt ever before, and one of the central themes of Epic Economist youtube channel is that all of this debt will ultimately destroy our society with a horrible stock market crash and financial collapse. All over the world experts sounding the alarm that the extreme high debt could cause a major debt crisis and global economic collapse.
The United States is, of course, the real king of debt in absolute dollar terms. Its consolidated general government obligations were listed as being close to $21 trillion dollar at the end of 2018. With the U.S. debt load so large, it would be easy to assume where the blame will goes after a major economic collapse. For a reference on the government debt load of the entire planet, the World Economic Forum put the global GDP tally for 2017 at about $80 trillion dollar. And the top 10 nations accounted for about two-thirds of that GDP figure. We might be writing about the world’s government debt nearing $100 trillion dollar much sooner than any of us might think. The U.S. economy is heading for the next economic collapse. When the next recession comes, you will know who to blame. Every time the Federal Reserve has engaged in a rate hiking program since World War II, it has always ended in either a recession or a stock market crash. The Fed is the reason why the U.S. economy has been on a roller coaster ride for decades, and now we are steamrolling directly toward the “bust” portion of this cycle.
The game is literally rigged against us, and we need to realize what we are up against.
Tinkering around with the current system is not going to fix anything. We need to ditch this current system and start again from scratch, but it will probably take a horrific economic collapse and stock market crash before most people start to understand this.