by theluckycountry » Fri 17 Jun 2022, 01:13:28
$this->bbcode_second_pass_quote('', ' ')Even the Fed injecting new money into the economy has to be paid back eventually.
Forget the FED, that's just a sideshow, the main event is the Federal, state, municipal debt along with all the private household and corporate debt. 93 Trillion to date
https://usdebtclock.org/The interest payments on that is 3 Trillion a year lol lol
How can this all be paid back? Every year more debt is added, it's been that way for umpteen decades. Even beginning to pay it off would cripple the economy and you'd have a USSR style collapse. That's why they always raise the debt ceiling, why they create new CC loans and house loans and create money and give it shale oil companies and Tesla. It's so the system can keep afloat as good chunk of that newly created money is used to pay the interest on the old debt. Money=Debt 3 Trillion a year remember.
The simple fact is, the system we live under is designed to grow and then implode and the debt is then written off in bankruptcy. Like the matrix, this will be the 5th or 6th time the western world has ended in economic collapse and depression since modern capitalist banking began back in Spain in the 1600's.
Each time the system collapses it is redesigned to look a little different, it's made more efficient, at least for those at the top who create the credit.
The last time the system collapsed was the Great depression and it swept the western world. Before that was the "Long Depression" or the Great Depression of 1873–1896. Before that was "The Panic of 1837",
a financial crisis in the United States that touched off a major depression, which lasted until the mid-1840s. Profits, prices, and wages went down, westward expansion was stalled, unemployment went up, and pessimism abounded. I believe it all began in the 16th century,
Marrano Jews introduced the techniques of European capitalism, banking and even the mercantilist concept of state economy to the Ottoman Empire.The sheep, the average Joe's are basically ignorant of this history. That's why they are happy (albeit nervously) to have their life savings in shitcoins and the US stock market, invested in a bunch of corporations that are in reality worth only a fraction of their book value. If it wasn't for the constant weekly and monthly inflow of wages into private pension funds US stocks could never have risen to these absurd levels. It's all a shell game, a Ponzi scheme, and like in all those previous depressions millions will suddenly lose their life savings and their homes and be left jobless and destitute.
We're 17 years past the peak now and the 3rd World is going hungry and dark. We'll be next, we're well on the way in fact.