Posted on 12/14/2016 5:25:14 PM PST by Rockitz
Being on the hook is not going to be pretty when interest rates are raised back up, and debts come due. At a personal level, it will mean more stress and juggling to make ends meet. For the larger economy, it will mean cities and states unable to meet obligations or balance their budgets – ending in bankruptcy, and bailouts. Meanwhile, millions of people are relying on that money to keep coming in order to survive. Something is going to go very wrong.
Relying upon government to function and send you money is not a secure plan.
The mathematics are terrifying and dismal, and so is being caught up in these collapsing states.
In the next phase of the financial crisis, the debt supercycle will become the most defining feature of the big hurt that will fall on nearly everyone.
That’s the dire warning that Goldman Sachs issued about what they termed the Third Wave of the global collapse. But it hasn’t come, at least not yet:
This wave is characterised by rock-bottom commodities prices, stalling growth in China and other emerging-markets economies, and low global inflation, Goldman Sachs analysts led by Peter Oppenheimer said in a big-picture note.
This triple whammy has its roots in the response to the first two waves of crisis — the banking collapse and European sovereign-debt crisis — and it is all part of the so-called debt supercycle of the past few decades.
Unfunded liabilities for pensions and other state benefits are threatening the security and future of an entire generation of retiring, hardworking Americans.
The debt will be shifted for as long as possible… but eventually, someone will have to come to terms with it.
(Excerpt) Read more at zerohedge.com ...
I can guess without reading the article it would include
California
New Jersey
New York
Massachusetts
and two other liberal sh$#$ holes
my guesses of the six - california, nevada, illinois, massachusettes, new york, new jersey.
No way in HELL should our taxes subsidize them. They made their bed.
• New Mexico – 148 dependents per 100 private sector workers
• West Virginia – 116 dependents per 100 private sector workers
• California – 114 dependents per 100 private sector workers
• Mississippi – 111 dependents per 100 private sector workers
• New York – 108 dependents per 100 private sector workers
• Arkansas – 103 dependents per 100 private sector workers
For some reason I can’t get to the link. What are the 6 states, someone? As I live in IL, I’m sure I’m one of them.
Where is the pic of the guy with the “Not this crap again.” ?
I’m surprised Illinois is not on that list for sure.
I’m in Illinois.....That’s got to be one of them.
Kick them out of the Union. No deadbeats.
Take illegals out of the equation, and these figures will change.
I live in CA. and you can bet I am one of them!!! I will bet NJ, MA, CA, IL, MN, SIXTH ONE NOT SURE OF!!!!
This is the first sky-is-falling article from Zero Hedge I’ve seen in a while. I trust their predictions are as wrong as ever.
My guess is IL is at the top.
seriosly illinois didnt make the list? chicago is gonna take the entire state down.
The exodus will become an EXODUS.
California is already at the chopping block.
I already know how California went in 2016. I haven’t looked at the 2016 map in awhile for those 6. What were the voting results? Anyone?
Some maps add other states: IL, OH, ME, KY, AL, SC, HI.
But there's some disagreement about which states are really in trouble.
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