May 29, 2018

The tightening screw – Part II.

Usually most of the focus in on the national debt, which is now 21 trillion dollars and rising, but when you total all forms of debt in our society together it comes to a grand total just short of 70 trillion dollars. Many people seem to believe that the debt imbalances that existed prior to the great financial crisis of 2008 have been solved, but that is not the case at all. We are living in the terminal phase of the greatest debt bubble in history, and with each passing day that mountain of debt just keeps on getting bigger and bigger.

"Why America Is Heading Straight Toward The Worst Debt Crisis In History." By Michael Snyder, ZeroHedge, 5/27/18 (formatting removed).


paul scott said...

I would be interested to read of the likely actual events within the collapse. I read somewhere that most of this public debt is internal, things like the health programs, welfare and Pensions.
So Colonel is the likely social chaos some kind of revolution of starving and angry people.
Will there be all round collapse of all monetary values of buildings, infrastructure, and a complete end to the stock market.
I imagine pensions and medical programs will just end, unable to fund themselves.
Will the peasants and barbarians more accustomed to fundamental lives be the victors?

Col. B. Bunny said...

The most likely scenario in my mind is a gradual to sudden inability to (fully) pay EBT funds due. The black underclass is a cocked hammer imo with funding of EBT cards the one remaining safety feature. I think LBJ long ago decided there was no fixing black hostility, rejectionism, crime, and inability to get a grip in the modern world so he went for the long-term bribe that was the coup de grace to any hope of black advancement.

Middle class people shafted by pension short falls or collapse will suck it up so the tidal wave will not be issuing forth from the 'burbs.

Your mileage may vary and they're all sold out of crystal balls at WalMart.

Suffice it to say, whatever the worst set of festering, suppurating social, economic, and political problems is that afflict the nation, you may be sure that with very few exceptions we're in denial about it.

Such is my optomism and sunny dispo. :-)