{"id":41541,"date":"2018-12-12T09:49:35","date_gmt":"2018-12-12T14:49:35","guid":{"rendered":"https:\/\/olduvai.ca\/?p=41541"},"modified":"2018-12-12T09:49:35","modified_gmt":"2018-12-12T14:49:35","slug":"u-s-debt-poised-to-hit-the-22-trillion-mark-as-storm-clouds-indicate-we-could-have-another-financial-crisis","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=41541","title":{"rendered":"U.S. Debt Poised To Hit The $22 Trillion Mark As \u201cStorm Clouds\u201d Indicate \u201cWe Could Have Another Financial Crisis\u201d"},"content":{"rendered":"
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U.S. Debt Poised To Hit The $22 Trillion Mark As \u201cStorm Clouds\u201d Indicate \u201cWe Could Have Another Financial Crisis\u201d<\/a><\/h3>\n<\/header>\n
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\"\"<\/a>The rapidly exploding U.S. national debt is about to cross another critical threshold.\u00a0 According to the U.S. Treasury, the debt of the federal government is currently sitting at $21,854,296,172,540.94<\/a>, and at our current pace we will likely hit the $22 trillion mark next month.\u00a0 This is a horrifying national crisis, and yet nothing is being done about it.\u00a0 When Barack Obama entered the White House in January 2008, the U.S. was $10.6 trillion in debt, and so that means that we have added 11.2 trillion dollars of new debt to that total in less than 11 years.\u00a0 Needless to say, it doesn\u2019t take a math genius to figure out that we have been adding an average of more than a trillion dollars a year to the national debt for more than a decade.\u00a0 But instead of getting our insatiable appetite for debt under control, Congress is actually accelerating our spending.\u00a0 At this point, there is no possible scenario in which this story ends well.<\/p>\n

Meanwhile, the global financial elite are really starting to talk up the possibility of a new financial crisis.<\/p>\n

For example, the deputy head of the IMF just said that he sees \u201cstorm clouds building\u201d<\/a>\u2026<\/p>\n

The storm clouds of the next global financial crisis are gathering despite the world financial system being unprepared for another downturn, the deputy head of the International Monetary Fund has warned.<\/p>\n

David Lipton, the first deputy managing director of the IMF, said that \u201ccrisis prevention is incomplete\u201d more than a decade on from the last meltdown in the global banking system.<\/p>\n

\u201cAs we have put it, \u2018fix the roof while the sun shines\u2019. But, like many of you, I see storm clouds building and fear the work on crisis prevention is incomplete.\u201d<\/p><\/blockquote>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

U.S. Debt Poised To Hit The $22 Trillion Mark As \u201cStorm Clouds\u201d Indicate \u201cWe Could Have Another Financial Crisis\u201d The rapidly exploding U.S. national debt is about to cross another critical threshold.\u00a0 According to the U.S. Treasury, the debt of the federal government is currently sitting at $21,854,296,172,540.94, and at our current pace we will […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[23445,23446,195,4106,14928,6061,7196,21316,4754,21317,15959,14393,21781,21318,6065,480,488,506,4901,536,549,6066,20901,1615,7452,21319],"class_list":["post-41541","post","type-post","status-publish","format-standard","hentry","category-economics","tag-22-trillion-debt","tag-22-trillion-dollar-debt","tag-debt","tag-debt-crisis","tag-drowning-in-debt","tag-financial","tag-global-debt-crisis","tag-global-financial-marketplace","tag-global-financial-markets","tag-global-panic","tag-going-into-debt","tag-in-debt","tag-into-debt","tag-investor-panic","tag-investors","tag-lending","tag-loans","tag-markets","tag-michael-snyder","tag-money","tag-national-debt","tag-panic","tag-perfect-storm","tag-spending","tag-the-economic-collapse-blog","tag-what-is-coming"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/41541","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=41541"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/41541\/revisions"}],"predecessor-version":[{"id":41542,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/41541\/revisions\/41542"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}