Zero Hedge:
Debt Crisis Disguised as a Health Black Swan
Long before COVID reared its highly controversial head (from viral source debates, baby-with-bathwater policy reactions, censored science as to vaccine efficacy and safety, distorted math on infection rates vs death rates, and centralized government control by officials acting “for your own safety” vs. Constitutional and legal issues of individual choice), the global financial system was already in an undeniable as well as unsustainable debt crisis.
As anyone who can fog a mirror and read history in the same breath also knows, whenever a debt crisis is obvious, what follows is equally obvious: an economic crisis, then a political crisis, and from there a social crisis.
In short, and from ancient Rome to 1917 Russia, or 1789 France to 1933 Germany, debt matters. Read More …
Opinion: Not one president in my lifetime, and that includes Ronald Reagan, left office without racking up a ton of debt. And please spare me the Bill Clinton story that he left office with no debt. It was $4 trillion.
But in 2009 the numbers got worse. That was the year the US started printing money to bail out the banks of the world who bought US Government Mortgage bonds that failed.
It began under Jimmy Carter (the Community Re-Investment Act) and continued under Bill Clinton and George W. Bush. The plan was to make mortgages available to everyone whether they could make monthly mortgage payments or not. Bad mortgages were then packaged up with good mortgages and sold to the world.
My theory is that the global economy died in 2009. Here’s why:
From 2009 to 2013, the US government printed $4 trillion dollars with stated intention to pay the debt back. They didn’t. Since then, at least 10 trillion more was created to bail out the covid-19 crisis, and yesterday the Democrats added this:
$3.5 Trillion Budget Resolution Proves Link Between Two Infrastructure Bills
The $3.5 trillion budget resolution Democrats released Monday proves the link between the so-called bipartisan and the Democrat infrastructure bill.
Many Senate Republicans have attacked the Democrats’ multi-trillion-dollar infrastructure bill even though they support the $1.2 trillion so-called bipartisan infrastructure. read more
The measure would allow Democrats to pass up to $3.5 trillion in spending on climate policy, paid leave, child care, education and healthcare without a Republican vote.
My math comes to $4.7 trillion. Typical history of government spending calls for that number to triple by the time it is all said and done.
Debt matters. And the road to a global collapse (Rev. 6:5-6) is becoming crystal clear.
See “The 1% and Revelation: Do Not Harm the Oil and Wine HERE
