Posted on 01/14/2021 4:55:12 AM PST by fruser1
I just thought I'd point out, amidst all the other things going on, that the US Debt to GDP ratio is now greater than it was for Greece back when they had their major financial crisis around 2008.
This is what the Biden admin will be starting with and, as all commies do, they will likely massively increase this burden.
And since it's a new administration, there's going to be, as usual, the "payback" for any supporters. This occurs with the massive "infrastructure bill" that ALWAYS occurs in the first 100 days of a new crew, and is simply a flat out rape of the US taxpayer.
Links:
The Greek Financial Crisis 2009-2016
Let it burn.
Iceland has the right idea.
When you owe money to the mob and they threaten you—but you have a bigger force — TRUMP knows.
Great news! The sooner the new fascism collapses the sooner we can get our country back.
Greece owed money to real banks. 90% of our debt is accounting entries on the books of the Federal Reserve.
Get all you can get from the government in handouts to pay off debts (home, cars etc). The government is going broke, and there will be no social security money for people depending on it.
Prepare for the Great Depression, the government is running out of options to delay it.
Get out of the dollar, aka the Treasury Note.
Buy Gold, Silver and other stores of value, as well as taking the usual FReeper precautions.
Disclaimer: I own Silver.
$27.8 Trillion in Debt.
$83,978 per citizen, $222,191 per taxpayer.
Up $1000 in less than a month, Up $14,000 in the last year.
Debt / GDP ratio of 130%
Post WWII high of 106% in 1946.
Post WWII low of 34% in 1974, the year after Biden entered the Senate.
1989, the year Reagan left office, 50% Debt to GDP ratio.
2012, Debt / GDP surpasses 100% under Obama.
2025, the Debt / GDP ratio is forecast to reach 200%.
2025, the Debt is forecast to be $49 Trillion
2025, the Debt per citizen is forecast to be $142,632 per person / $362,415 per taxpayer.
+1!
Unlike Iceland, our debts aren’t foreign deposits in our banks.
Can you show your math?
“Greece owed money to real banks. 90% of our debt is accounting entries on the books of the Federal Reserve.”
Yes.
Yes! Thank You for the great advice FRiend!
Just a scratch. It will buff out.
Actually, I think this is a starting point for modern monetary theory implementation to work its magic.
Would like to think things return to “normal”, but usually nothing good comes out of a full on currency collapse.
Weimar Republic is a good example. USSR came out of theirs ok, but it was a painful decade where average life expectancy fell. I think they were better prepared as many people were accustomed to growing small gardens to supplement what they could buy.
Here the free shit army roams Walmart once a month with ebt cards. Think they stand in line when supply chains break?
China will collapse the dollar in the future...stock up on toilet paper...
Democrats will turn the country into Venezuela...With there green new deal....
States should revolt and not obey all these rules from the Feds..
unless they want on
Irrelevant.
Greece converted to the euro in 2002.
After that they could not create/inflate their own currency anymore.
Nor did the EU consolidate the debts of euro countries as the US did when it formed (I have a memory of reading that).
At 146.19%, the U.S. debt to GDP ratio is HIGHER than was that ratio for Greece in 2008. Their debt did continue to rise AFTER 2008, at some point reaching the 170 some percent of GDP.
That is not to say that the U.S. current debt to GDP ratio is not a scandal; as surely it is.
Indeed. Reckoning is coming, and soon, given BidenIdiot and company want to spend trillions more. When cash goes to sh*t, it is going to go to sh*t whether its stuck in a bank account or in a mattress.
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