Posted on 11/26/2019 10:35:26 PM PST by Crucial
Yesterday, in my post about the latest jobs report, I said that “our massive looming government debt bubble” will “precipitate the biggest economic disaster of them all.” A commenter here at RedState asked what I meant by a “government debt bubble.” I have talked about this before, but it is an important enough topic that it is worth revisiting.
In short, we’re in a bus speeding towards a cliff. We’re probably already past the point of no return. The bus is going over the side. It’s not a matter of if, but a matter of when. About the only thing we can do is bail out of the bus before it goes over.
(Excerpt) Read more at redstate.com ...
Despite the debt levels, the US government can still borrow for 10 years at a rate less than 1.8%
There won’t be a crash.
Precisely because everybody on the planet would be utterly effed in such a crash. Hence they fear it so much that they’ll do absolutely anything to keep it from happening.
Basically that includes letting us crank the printing presses up to 11 and continuing to pretend that the money has value. All of the alternatives are unthinkable.
Sort of like how Mutual Assured Destruction kept the nukes from actually being launched. This bubble bursting would be an economic nuclear holocaust.
I’m sure the Democrats have the magic bullet. There’s $19 TRILLION in retirement funds out there. Just confiscate them. That would take it down to 4 trillion left to go.
“Ah, well that is much better that what I had heard.”
What was widely reported was his ‘give me some of that’ but it was in reference to him referencing a personal loan, not what he wanted governments to do.
It was his humor moment.
They aren’t worried - they know they can always seize your retirement accounts to pay for it and give you an IOU for later. As long as you keep getting a monthly statement showing a growing balance, you rubes will never know the difference... :)
I am sure that is part of the plan (though personally I think it has more to do with covering massive shortfalls in government union pension funding. Roll it all into one gigantic ball and the problem goes away).
Just in time for “MARK” Zuckerberg to launch his Libra for a new global currency, backed by a Gov’t Credit Score for each obedient slave.
Good for you. I just got a second job.
Something is going to make the world “come together” - Some have speculated a pre-trip harpazo event. Near-simultaneous global economic crash could have the world yearning for a political “savior” to “fix the economy”.
I’m always shocked by the fools that still, to this very day, think that “Obama fixed the economy”.
You truly cannot fix stupid. The blind following the blind.
[pre-trip]
LOL
pre-trib
Too busy trying to cook Thanksgiving dinner early - oops
It will be tough, but being debt free will be worth it.
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