The United States of America is broke. You do understand that – don’t you?
We’re not talking about ” a little bit of a cash flow problem” or a short-term need for a “loan” no no no…..we’re talking about 100% flat-out broke, robbing Peter to pay Paul type broke, applying for a new credit card as fast as the applications can be filled out, scrounging around the living room, searching for loose change under the couch type broke.
Totally….and absolutely – flat busted.Zip.Nada.Zero type broke.
You do understand that right?
The idea of a “debt ceiling” is a complete and total “fabrication” serving no “real world” purpose, and as ridiculous as the idea of recovery in itself. The U.S debt ceiling will be raised, then raised again, then again and again…then again as there is no such thing! It’s debt to the moon as the entire economic model is built on debt!
I worry at times that people are still of the mindset that “oh well…..these things will work themselves out” or “it’s just a rough patch – everything is going to be just fine”.
You aren’t one of “those” are you?
Do you understand the net effect of these “zero percent interest rates” over time? You’ve got it right? You understand the objective here?
Seniors and anyone who may have worked their entire lives to save enough money to retire, now find their bank balances being drained like never before! 0% interest actually has a standard bank account “losing money” day-to-day as the cost of goods just keeps going higher, and there’s not a single point of interest given on savings. Factor in “fees” and you’ve got yourself and entire generation of Americans being stripped of their savings, and “forced” to seek yield in much riskier assets like……….The stock market of course! Yes yes! Take your hard-earned nest egg ( or perhaps even apply for a high interest loan) and put your money into the stock market!!
That’s what your banker or broker will tell you no?
The level of desperation appears so obvious and blatant to the outside observer, I’m seriously dumbfounded that Americans have yet to “rise up” and “speak out” of the “fleecing” currently under way. This “massive bag of debt” will in turn, be handed off to the next generation unable to survive without at least a couple of credit cards of their own….saddled with the burdens of their grandparents now sitting in cold dark rooms with little to eat – drowning in health care premiums.
I can’t even get started with Obama Care ( or is it just a further extension of the “police state”? ) and of course, now we’ve got renewed talks of “humanitarian interests in Syria” and of course “more trouble in Iran”.
It’s about Oil and the preservation of the Petro Dollar people! You know that right?
Gees…….bury head back in sand please.
More on this….ALOT MORE ON THIS to follow.