The world is sitting on a $91 trillion problem. ‘Hard choices’ are coming

CNN ^ | Hanna Ziady

[Republicans 2016 2020]

Governments owe an unprecedented $91 trillion, an amount almost equal to the size of the global economy and one that will ultimately exact a heavy toll on their populations.

Debt burdens have grown so large — in part because of the cost of the pandemic — that they now pose a growing threat to living standards even in rich economies, including the United States.

Yet, in a year of elections around the world, politicians are largely ignoring the problem, unwilling to level with voters about the tax increases and spending cuts needed to tackle the deluge of borrowing. In some cases, they’re even making profligate promises that could at the very least jack up inflation again and could even trigger a new financial crisis.

[blackdog]

They will merely use data mining programs and drain everything out of people’s bank and investment accounts. With help of CIA programs there are shady NGO’s doing it already. You know....those dark web hackers.

[Dr. Sivana]

I suspect the US, at the time, was in a similar situation.

Already in 2005, the U.S. debt was greater than countries like Canada relative to GDP. Mark Steyn writes about this at length. While Republicans and Democrats alike tend to increase the debt, because the dollar's standing as the world's currency allows for more borrowing, even liberals like Chretien reined in spending because they did not have that luxury.

[Rockingham]

Everyone wants to enjoy the party but no one wants to pay the bill and stay to clean up the mess.

[Jonty30]

The US and Canada have always been relative close together in their spending, albeit different priorities.

In 2005, the US was $8 billion in debt, rounded. At 2.1% bondable interest, which is what I think the US was paying, your debt was costing you about $163 billion each year.

I think, if Congress had passed a law, adding one line that starts paying back the debt, your debt would have been paid.

[Mark17]

So the only question is how they will handle the inevitable unrest. Will it be with more bread and circuses? Or will it be with a bloody crackdown - protest in the streets, catch a whiff of the grapeshot.

I think there will be blood in the streets. Remember, hungry people, are angry people. They will take it out on someone. I don’t think the elites can hide from the people. French Revolutions, all over the world.

[Jonty30]

$8 trillion in debt, not $8billion.

[Jonty30]

Immigrants will be quite displeased when they receive porridge for their free meal and not what was promised

[Mark17]

Immigrants will be quite displeased when they receive porridge for their free meal and not what was promised

People will be lucky if they can get any porridge at all. Starvation will really torque their jaws. They will react, and it might not be pretty.

[Leaning Right]

> I think there will be blood in the streets. Remember, hungry people, are angry people. <

Yeah, you’re probably right. There is a Section 8 project not far from me. It’s filled with entitled people - people who get their food, water, and housing for next to nothing.

They won’t be happy when the spigot is turned off.

But I’m not really worried. Because between them and me there is this crazy militia guy. I wouldn’t say he’s a friend of mine. But I know him well. To get to me, they first must go through him. And I don’t think they can get through him.

[qaz123]

I think it was 2004 or 2005, when Bush needed money for war in two countries that they didn’t need old budgets, negotiations and compromise.

If Bush wanted money for his wars It became CRs, Omnibus’ and the Pelosi proverb, “we have to pass the bill to see what’s in it”. I

It’s been that way ever since. Obama didn’t care because he’s never cared about anything.

While to get the country on track, Pres Trump asked for a budget and wanted negotiations. He had his goals. In Oct ‘17, with Republican control of Congress, no open budget negotiations, just more deceit, CRs and Omnibus’

He was backed into a corner and can’t fight Congress on that.

Just imagine what would happen if we drastically cut all foreign aid, eliminated all payments and bennies to illegals, refugees and reeled in all the ridiculous SSI, Medicaid spending.

And DOD could use a cleansing too, since they can’t pass an audit

And there’s always this….

https://msutoday.msu.edu/news/2017/msu-scholars-find-21-trillion-in-unauthorized-government-spending-defense-department-to-conduct

[citizen]

...but I do wonder about the ramifications of that [global default]

---

Would usher in the Great Reset asap.

[Jonty30]

That’s exactly what the national debts are all about. In exchange for alleviation, they own us. Otherwise, they will demand virtually your entire income from yourself and your children and your grandchildren until the debt is paid.

[vpintheak]

Commies running out of other peoples money, huh?

[SaveFerris]

[Wired to blow. On purpose.]

You may not be incorrect. Economic Upheaval leads to dictators and especially stupid choices by populations.

Weimar Germany, 2008 America......

I have always thought there would be great Economic Upheaval giving rise to Satan's Antichrist.

I can't prove that Biblically - but when the economic chips are down, the masses are looking for "a savior"

Barack came in with all of his lies - and yet there are still people to this day who believe that "Obama saved the American economy" - and cannot be swayed from that notion, either.

When the big one (next economic crisis, black swan event) comes, IMHO it will "necessitate" in the middle of the 7 years of 'Peace and Security' - a MARK 666 to be able to transact (BUY and SELL) in "the Global Economy" - Maybe the World Economic Forum symbol will be everywhere. /shiny side out

[SaveFerris]

[Starvation will really torque their jaws. They will react, and it might not be pretty.]

Hunger is an incredible motivator. Most will submit; just like with COVID-19(84). That's my prediction, anyways. Some. WILL NOT. SUBMIT.

Buying groceries will be impossible for Tribulation Saints who refuse the Mark of the Beast. Look at how quickly a substantial portion of the world was locked down for COVID-19(84).



Revelation 20:4 King James Version

4 And I saw thrones, and they sat upon them, and judgment was given unto them: and I saw the souls of them that were beheaded for the witness of Jesus, and for the word of God, and which had not worshipped the beast, neither his image, neither had received his mark upon their foreheads, or in their hands; and they lived and reigned with Christ a thousand years.

https://www.biblegateway.com/passage/?search=Revelation%2020%3A4&version=KJV

[SaveFerris]

[The world is sitting on a $91 trillion problem. ‘Hard choices’ are coming]



War usually distracts the masses...

"Hard Choices" eh? Sorta like an old Star Trek episode? "The Conscience of the King"?

Here comes The Great Reset and Population Reduction.

[SaveFerris]

This is what world governments fear - people in the streets - fed up with being ripped off - Sri Lanka in 2022 for example. Worldwide economic crisis could easily give rise to Satan's Antichrist. He'll "solve the financial crisis" I think (possibly). The people will submit. Most of them.

[SaveFerris]

[I think it was 2004 or 2005, when Bush needed money for war in two countries that they didn’t need old budgets, negotiations and compromise.]

Back then, I read several articles about how we were borrowing from China to finance the nation-building. I kept thinking, this is .... cough ... “unsustainable”

[SaveFerris]

[Would usher in the Great Reset asap.]

(for the thread - another thread...)

EXCLUSIVE: What Is the Great Reset? Erick Stakelbeck, Jack Hibbs, Victor Davis Hanson | TBN Special (VIDEO)

https://freerepublic.com/focus/f-chat/4243785/posts

[CurlyDave]

For millennia governments have solved the problem of debt by inflation. Borrow in strong currency, repay in weak.

What makes anyone think this time will be different?

Get your personal finances together with the expectation of inflation and you will be fine.