(That’s the way we’re heading. Hyperinflation. Probably inevitable.)
Posted on 06/11/2024 5:59:32 AM PDT by Kaiser8408a
Too much debt should be the theme song for the US! Both for consumers and the Feral government (not a typo!)
Consumer credit increased by +$6.403 billion in April, much softer than consensus estimate of +$10 billion … more notable, however, was March data, given initial read of +$6.274 billion was revised down to -$1.099 billion.
Not to mention $13 trillion in mortgage debt (1-4 unit housing), but at least that is backed by property. Unlike The Feral government who borrows/prints with only a promise.
Consumer Debt Hits $17.69 TRILLION.
US national debt stands at $34.8+ trillion.
And growing awfully fast. Note that since the “pandamic”, debt as % of GDP has exceeded 100% and is projected to hit 166% by 2054. But look at the UNFUNDED LIABILITIES the need to be paid ($216+ TRILLION ($641.5k per citizen!). Pretty soon, we (the 99%) will be back on the chain gang paying for endless wars and government corruption. I wish Biden, Schumer, McConnell and other swamp creatures would consider all the spending the government is on the hook for rather than focus on spending that will help them get elected perpetually. There is no middle of the road anymore. The US is broke and has too much debt.
Of course, President Biden wants endless spending on wars (Ukraine, Israel, etc) and now wants an unlimited check to pay for the next pandemics. The Pretenders’ song “My City Was Gone” seems to be appropriate for the US as “My County Is Gone.”
Of course, some “economists” claim that the US can borrow/print unlimited amounts of money … until they can’t.
(Excerpt) Read more at confoundedinterest.net ...
It’s a hyperbolic curve. Give it time (and not much). Just as billion became the new million, and trillion became the new billion, quadrillion will become the new trillion. And I’m talking a few years, not decades.
We are living in interesting times. Get some chickens...yer gonna need ‘em.
(That’s the way we’re heading. Hyperinflation. Probably inevitable.)
I remember the ‘scare books’ in the 1980’s that said we were going to collapse from too much debt, but it hasn’t happened yet. Just sayin’.
Oh, it's likely going to happen. It's just taking longer than they thought.
And your guns, bullets, gold, can goods, garden, paper goods, solar panels, meds, etc.
Unfunded liabilities are debts to me. They need to be paid. With what?
This is not the first time in history that a country has piled up unsustainable debt and the results are always the same...hyper-inflation followed by collapse.
When the rest of the world refuses your paper or digital "money" because it has no value, game over and it's back to survival of the fittest individuals.
Imagine no power, water or utilities and how long the average person in the US could survive...days or weeks in the city, maybe a little longer for the prepared in the country, but if you are prepared, will you kill you neighbor to protect your sustenance?
The law of the jungle will be in effect and there won't be any cell phones to give answers or directions, if you don't know North from North-East, it will be too late to learn.
I could last about a month, after that, I'd have to take a lesson from those cannibals that ate joe's uncle and I'm not sure that it would be worth the trouble.
Here's a novel idea: No new taxes, but every agency has 10% fewer funds with the same or improved service. Do we really need 16,000+ people working at the EPA? Every noticed how you don't see gov't productivity statistics? Cut every budget, except National Defense (i.e., military) and Social Security and for the gov't to be more efficient and replace the agency heads if they can't become more efficient.
The gov't doesn't need more more to cut the debt if they reduce spending.
Also scarcely reported, we are off the “PetroDollar” as of Sunday June 9th (after 50 years). World Reserve Currency position weaker & weaker.
But still cozying up to the Saudis:
Well, this new.
Wait, it isn’t new, it’s just the same old thing with more exclamation points and capital letters.
cbs.com-—— Jill Biden’s multiple flights to and from Paris to attend the federal trial of Hunter Biden, will ultimately cost taxpayers.
A DNC spokeswoman confirmed to CBS News that the national party plans to pay “for the first class travel of the first lady.” The move is similar to how the DNC and the Biden reelection campaign split the costs of flights for President Biden, Vice President Kamala Harris and their spouses when they fly on government aircraft to a mix of official and political events.
The White House Military Office determines the reimbursement rates using Pentagon-issued cost estimates. First ladies typically fly on smaller Boeing jets than the traditional 747 model used for presidential travel. The reimbursement rate for the flights the first lady took could run at least $15,000, based on the Pentagon tabulations.
And while the DNC plans to reimburse the federal government for the first lady’s seats on the flights, most of the costs related to the Air Force flight crew and to ferry Secret Service agents and any support staff are ultimately paid for by taxpayers. Those costs are likely to run into the six figures depending on the aircraft used and the number of personnel onboard —details the Pentagon doesn’t normally disclose.
The Daily Mail first reported the reimbursement plans earlier Monday, and quoted the first lady’s office as saying, “In accordance with relevant regulations utilized across administrations, the government is reimbursed the value of a first-class fare for these flights to Wilmington and back to Paris.”
Multiple attempts to obtain the same statement from the first lady’s office went unanswered Monday and the Biden reelection campaign referred CBS News to the DNC for comment.
It is standard practice for the DNC and Republican National Committee to reimburse for government-paid flights to political events —but last week’s itinerary for the first lady was especially notable given the international destination.
She attended the first day of jury selection last week and then spent roughly 24 hours over three days flying to France, attending D-Day commemoration ceremonies in Normandy, then back to her family’s hometown to sit in the Wilmington federal courthouse Friday to watch granddaughter Naomi Biden testify. The first lady was back in Paris by 6 a.m. local time Saturday to attend a full day of events, including a welcome ceremony at the Arc de Triomphe, a tour of Louis Vuitton Foundation museum’s art collection and a state dinner at the Élysée Palace.
First ladies do not have the option of flying commercial given security concerns and always travel with a full Secret Service detail.
The US Supreme Courts recent decisions to allow States to start their own gold and silver backed currencies ( per our US Constitution) has not been mentioned by our corrupted MSM…..coupled with our DTCC recent ruling that gives all crypto a 100 percent haircut, 20 percent haircut on all US government bonds, 40 percent on all equities is ominous.
Simply stated, we are preparing for a default on our debt…..they are stuck in a corner, and running low on “ tools”. 2027 is the most probable date we go into default…..why else has the world’s Central Banks been purchasing record high, HISTORIC amounts of Gold? …..the sad part- since BIS and Basel agreements have now made Gold and cash a “ Tier One” holding, the US is the ONLY nation NOT buying gold…..
…..they are instead printing more paper and have little hope in finding buyers for the $7, 000,000,000,000 (Trillion) in bond debt that matures this year.Note: China just dumped $ 560,000 billion, Japan and even Belgium have been selling off.
Prepare accordingly, many will suffer, a few in the know will prosper.
For the doubting Thomas’s:
“… States banks can issue their own gold backed currency bypassing the Federal Reserve
Ruling just released last Thursday, May 30, 2024 (Mark this on your calendar as #EndtheFed day)
State sponsored banks do not have to adhere to the Federal Reserve charter
And states can then acquire gold reserves for their state banks
and disband from the Federal Reserve system.
We have confirmation that the USA effectively has a dual banking system.
Each state in the USA operates its own banking system, parallel to the Federal Reserve. While the Federal Reserve has inflicted severe pain locally and globally, the Supreme Court has upheld the state’s right to maintain its own charter, independent of the corporate Fed system.
The Federal Reserve doesn’t respect state rights for banks to adhere to their own charter outside the control of Washington, D.C., (but these are the same animals when asked by Ron Paul that don’t believe Gold and Silver are money, thus proving they don’t want competition - LOL)
But states are taking their power back…”
https://www.supremecourt.gov/opinions/23pdf/22-529_1b7d.pdf
This is MAJOR news, and our corrupted MSM remains silent.
….and how about this great deception? ( May 16, 2024).
“In a surprising turn of events, the U.S. Supreme Court recently delivered a 7-2 decision that marks a significant victory for the administrative state. This ruling allows a federal agency to continue receiving its funding directly from the Federal Reserve Bank, bypassing the U.S. Treasury. The implications of this decision are profound, raising questions about government accountability and the separation of powers…”
Ominous rulings and changes to our financial system are happening very quickly, some behind closed doors, going unnoticed….make no mistake “it’s” coming.
Good bye USD
Debt is a self inflicted wound.
We have oil all over Alaska. Trump had us back on track to produce plenty of our own. He had the pipes all set up also. Why are we buying from Muslims? Makes no sense to me.
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