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Originally Posted by Rainger99
Interesting article on global debt.
The world is sitting on a $91 trillion problem. ‘Hard choices’ are coming | CNN Business
The most disturbing language is that “Tackling America’s debt problem will require either tax hikes or cuts to benefits, such as social security and health insurance programs.”
The good news is that we may have another 25-30 years before the world economy collapses.
I am glad that I am not graduating high school this year.
Any comments or suggestions from any economists or financial experts? Is it as dire as predicted? Or does it exaggerate the problem?What are the solutions? |
Yeah, I read that article. What is coming is bigger and badder than most will acknowledge or entertain. We are already in a fiscal death spiral. $1Trillion will be spent next year just to pay the interest on the national debt. And, because we refuse to spend less than what we take in, the debt will continue to grow. People need to understand the word "unsustainable". This is unsustainable. That means it can not continue. So, therefore, inflation is unstoppable and hyper-inflation is just around the corner as our corrupt government tries to hide the inevitable.
Eventually (3-4 years at most), the USD will be close to worthless. That's right. Think hard and contemplate a world where your money doesn't work. How will you obtain what you need? Can you imagine the chaos, the gangs, the violence that will erupt when money doesn't work. Got some gold? Perhaps that will help a little but you can't eat gold. What will you do? Will you or your family even survive? It's going to get real ugly. Are you PREPared?
Weimar Germany and Zimbabwe are coming to a country near you thanks to deficit spending, unopposed immigration, political violence, etc. This can not be fixed. Mathematically, we are past the point of no return. Doesn't matter who you vote for. Doesn't matter what program might be cut to try to stem the bleeding. Our corrupt leaders and their supporters (WEF, Bill Gates, Soros, corrupt media, the UN, etc) will destroy this country.
This history book is also a prediction pertaining to the USA.
When Money Dies: The Nightmare of Deficit Spending, Devaluation, and Hyperinflation in Weimar Germany