"Crickets"
Isn’t that their plan? Throw a little nuclear exchange in there and “Bob’s you Uncle”!
We are destroying the global financial system.
By design?
This guy has no idea what he's talking about. Not only is it acceptable for governments to borrow money ... but in some cases borrowing money is the best approach to funding public expenditures.
Public infrastructure is a perfect example. Paying for roads and bridges out of current revenues is a poor approach to infrastructure management and finance. Matching the payment period for an asset to the useful life of the asset is exactly the right thing to do.
The problem we face is when governments borrow boatloads of money to fund operating expenses that have a limited "useful life." Borrowing money to keep Social Security and Medicare solvent, for example, is a disaster.
“We can’t stop, we have to slow down first.”
Then slow down increasing spending.
“We can’t slow spending or we are immoral and uncaring about the poor, women and minorities.”
Then be called uncaring.
“You’re a Nazi!”
The problem is borrowing of all types. I believe consumer debt is at $14 trillion at the moment. If there is a financial collapse, I certainly hope there isn’t a bailout. I’m debt free and have cash on hand. My thinking is simple. I play the long game. When people have to sell to cover their obligations I will be there to help them. Of course depreciation is a real bitch and requires a significant discount of any sales price. 😂 Suckers.
“Historians are going to look back at this era, and they are just going to wonder why we allowed it to happen and what were we thinking.”
Well, that’s easy. Half of the electorate is economically illiterate, and a good portion of the other half is benefiting from the generational theft.
By the end of this decade the yearly interest payments on the debt will exceed the defense budget. The total debt is presently larger than our GDP and the gap will continue to grow.
Wait until the hyperinflation kicks in and we’re servicing a $40-50 Trillion debt at 20% or more. Can you imagine $10 Trillion each year in interest alone? A vicious cycle of major tax increases and even more borrowing will set in and thoroughly destroy us.
Stop the madness now!
“Historians are going to look back at this era,”
When we are all under the communism of the new global order then there will not be any looking back. Inconvenient history will be erased.