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Global Debt Surpasses 244 Trillion Dollars As “Nearly Half The World Lives On Less Than $5.50 A Day”

Global Debt Surpasses 244 Trillion Dollars As “Nearly Half The World Lives On Less Than $5.50 A Day”

The borrower is the servant of the lender, and one of the primary ways that the elite keep the rest of us subjugated is through the $244,000,000,000,000 mountain of global debt that has been accumulated.  Every single day, the benefits of our labor are going to enrich somebody else.  A portion of the taxes that are deducted from your paycheck is used to pay interest on government debt.  A portion of the profits that your company makes probably goes to servicing some form of business debt.  And most Americans are continuously making payments on their mortgages, their auto loans, their credit card balances and their student loan debts.  But most people never stop to think about who is becoming exceedingly wealthy on the other end of these transactions.  Needless to say, it isn’t the 46 percent of the global population that is living on less than $5.50 a day.

The world has never seen anything like this mountain of debt ever before, and one of the central themes of The Economic Collapse Blog is that all of this debt will ultimately destroy our society.  According to the Institute of International Finance, the total amount of global debt is now  “more than three times the size of the global economy”

The world’s debt pile is hovering near a record at $244 trillion, which is more than three times the size of the global economy, according to an analysis by the Institute of International Finance.

The global debt-to-GDP ratio exceeded 318 percent in the third quarter of last year, despite a stronger pace of economic growth, according to a report by the Washington-based IIF released on Tuesday.

…click on the above link to read the rest of the article…

Global Debt Surpasses 244 Trillion Dollars As “Nearly Half The World Lives On Less Than $5.50 A Day”

Global Debt Surpasses 244 Trillion Dollars As “Nearly Half The World Lives On Less Than $5.50 A Day”

The borrower is the servant of the lender, and one of the primary ways that the elite keep the rest of us subjugated is through the $244,000,000,000,000 mountain of global debt that has been accumulated.  Every single day, the benefits of our labor are going to enrich somebody else.  A portion of the taxes that are deducted from your paycheck is used to pay interest on government debt.  A portion of the profits that your company makes probably goes to servicing some form of business debt.  And most Americans are continuously making payments on their mortgages, their auto loans, their credit card balances and their student loan debts.  But most people never stop to think about who is becoming exceedingly wealthy on the other end of these transactions.  Needless to say, it isn’t the 46 percent of the global population that is living on less than $5.50 a day.

The world has never seen anything like this mountain of debt ever before, and one of the central themes of The Economic Collapse Blog is that all of this debt will ultimately destroy our society.  According to the Institute of International Finance, the total amount of global debt is now  “more than three times the size of the global economy”

The world’s debt pile is hovering near a record at $244 trillion, which is more than three times the size of the global economy, according to an analysis by the Institute of International Finance.

The global debt-to-GDP ratio exceeded 318 percent in the third quarter of last year, despite a stronger pace of economic growth, according to a report by the Washington-based IIF released on Tuesday.

…click on the above link to read the rest of the article…

The Mainstream Media Warns America Will Be Facing An “Economic Hellscape” If The Government Shutdown Continues

The Mainstream Media Warns America Will Be Facing An “Economic Hellscape” If The Government Shutdown Continues

Is the mainstream media overhyping the economic impact of the government shutdown for political purposes?  Of course they are.  Once upon a time the mainstream media in the United States at least attempted to maintain a facade of objectivity, but those days are long gone.  In this case, they want to stir up as much public resentment against President Trump as possible in order to try to force him to end the government shutdown.  And when NBC News breathlessly declared that the U.S. “would face an economic hellscape” if this shutdown stretches on for an extended period of time, their article quickly went viral all over the Internet.

But will it really be “an economic hellscape”?

Here are some of the things that they say we will be facing in their “doomsday scenario”

  • 38 million low-income Americans lose food stamps
  • 6 million face an uncertain timetable for collecting tax refunds
  • 2 million without rental assistance and facing possible eviction
  • 800,000 paycheck-less federal employees plunged into dire financial straits
  • Shuttered parks and museums while overstressed airports cause tourism to tank
  • Federal court system slows to a crawl
  • Disaster relief money doesn’t get to storm-ravaged areas

Yes, things would certainly be unpleasant for a lot of people, and there would be a whole lot of anger around the country.

But such a scenario does not qualify as “an economic hellscape”.  I would encourage the folks over at NBC News to pick up a copy of The Beginning Of The End if they really want to know what the initial phases of a major economic crisis scenario could look like in this nation.

…click on the above link to read the rest of the article…

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