by Michael
You may name everybody for dinner, as a result of our goose is cooked. We’re so deep in debt that the one manner we will preserve your complete system from collapsing is to maintain borrowing much more cash. Maybe you’ve been by an analogous state of affairs with your individual private funds. While you merely don’t have sufficient cash to pay your payments, borrowing more cash can appear to be a very easy short-term answer. Sadly, the U.S. authorities has been doing this for many years, and now our nationwide debt spiral has reached a terminal stage. Even when we gathered up all the cash that exists in each checking account in America, we couldn’t repay the nationwide debt. The debt degree is exploding upwards at an exponential price, and the one manner that the federal authorities can proceed to pay the payments is to maintain borrowing and spending colossal mountains of cash that we should borrow from another person.
As I write this text, the U.S. nationwide debt is sitting at 31.4 trillion {dollars}.
However the whole worth of all items and providers produced in the USA final yr was solely about 25 trillion {dollars}.
Our leaders in Washington may attempt to reverse course by balancing the finances, however that may result in a short-term financial catastrophe.
Simply give it some thought.
What do you assume would occur if a pair trillion {dollars} of presidency spending was all of a sudden sucked out of the economic system?
We might instantly plunge right into a horrifying financial melancholy.
Sadly, the reality is that now we have been borrowing from the long run to make the current much more nice. We’re having fun with an artificially-inflated way of life that we don’t deserve, and now we have been utilizing debt to fund that artificially-inflated way of life.
However now a day of reckoning is right here.
After all it isn’t simply the federal authorities that has gone fully insane.
Our state and native governments are collectively greater than 3 trillion {dollars} in debt.
Company debt in the USA has now surpassed the 12 trillion greenback mark.
And whole U.S. family debt is now over 18 trillion {dollars}.
Because the U.S. economic system has slowed down in latest months, an growing variety of Individuals have turned to bank card debt.
So now bank card debt is rising at an exponential price whereas the financial savings price has dropped to a historic low.
And at this level the common price of curiosity on bank card balances is the very best ever.
I don’t even have the phrases to explain how self-destructive we’re being.
On each degree of society, debt ranges are completely skyrocketing.
We are actually committing nationwide monetary suicide, however many individuals don’t appear to care.
And many individuals don’t appear to care as a result of they don’t even perceive what is occurring.
At this level, our “system of schooling” has produced hordes of fully clueless people that may barely even perform in a contemporary society.
However as an alternative, our leaders have been free to systematically destroy our monetary future for a really very long time, and only a few of us have even cared sufficient to object.
Sadly, now we have reached some extent the place there isn’t any turning again.
We’ve already destroyed the reserve foreign money of the planet.
We’ve already created rampant inflation.
The Federal Reserve has been feverishly climbing rates of interest, however that’s dramatically elevating debt service prices at each degree of our society, and it is usually inflicting financial exercise to decelerate throughout us.
Firms throughout America are actually shedding employees, and that even contains Google…
On Friday, Alphabet-owned Google introduced it was slicing 12,000 workers, roughly 6% of the full-time workforce. Whereas workers had been bracing for a possible layoff, they’re questioning management concerning the standards for layoffs which stunned some workers, who woke as much as discover their entry to firm properties lower off. Among the laid-off workers had been long-tenured or not too long ago promoted, elevating questions concerning the standards used to determine whose jobs had been lower.
Shortly after CEO Sundar Pichai’s preliminary e-mail to workers Friday morning, Google’s search boss Prabhakar Raghavan despatched an e-mail to workers saying he “additionally feels the duty to achieve out” and asking for them to avoid wasting questions for subsequent week’s city corridor. There will likely be “bumps within the street” because the group strikes ahead with the layoffs, Raghavan famous.
Why is Google doing this?
No company in your complete nation is stronger than they’re.
If there’s one firm in America that shouldn’t be shedding employees, it’s Google.
After all nearly each giant tech firm is shedding employees today.
Microsoft is shedding employees.
Amazon is shedding employees.
Fb is shedding employees.
Twitter is shedding employees.
We haven’t seen something like this since 2008, and that’s as a result of we haven’t had an financial disaster like this since 2008.
So many individuals are going to lose their jobs within the months forward.
And the financial ache that we’ll expertise in 2023 will likely be just the start, as a result of your complete system is beginning to come down throughout us.
Did you really assume that we may go on the best debt binge in all of human historical past and that every thing would work out simply tremendous in some way?
That isn’t how the true world works.
We sat by and did nothing whereas our leaders made disastrous choices for many years, and now we will likely be compelled to observe in horror as the implications of these choices play out proper in entrance of our eyes.
