The Greatest depression is coming, are you ready?
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A bunch of countries sold US debt and supposedly UK and Ireland bought the equivalent amount. I have heard that this purchase was fake, that it was the Fed that bought it and used UK and Ireland as the "front men". In other words the US is already defaulting on debt and just printing money to pay debts.
Consider this, the US collects $5 trillion a year in tax revenue and has $7 trillion spending bills.
Some erroneously compare this to someone buying a house with a mortgage. What is the US buying with that extra $2 trillion? We aren't buying anything, we are paying interest on our $32 trillion debt.
Put this into perspective. Suppose you you make $100,000 a year, but you spend $140,000 a year because the interest on your credit cards is $40,000 a year and to pay that interest you are borrowing money. Is this sustainable?
Some erroneously compare this to someone buying a house with a mortgage. What is the US buying with that extra $2 trillion? We aren't buying anything, we are paying interest on our $32 trillion debt.
Put this into perspective. Suppose you you make $100,000 a year, but you spend $140,000 a year because the interest on your credit cards is $40,000 a year and to pay that interest you are borrowing money. Is this sustainable?
Worse Than Evergrande, China's No.1 Real Estate Company Goes Bust-Country Garden/Darkest Hour Comes
These are big, giant dominoes falling. Longfor Properties is also set up to collapse.
These big developers going bust will definitely cause the property to be sold off at a massive discount bringing down the value of all real estate assets. Hence the developers and banks will collapse.
This is full of very good data
Mortgage demand hits lowest level in nearly three decades
by Zachary Halaschak, Economics Reporter
August 23, 2023 01:41 PM
https://www.washingtonexaminer.com/policy/economy/mortgage-demand-lowest-level-three-decades
Mortgage demand hits lowest level in nearly three decades
by Zachary Halaschak, Economics Reporter
August 23, 2023 01:41 PM
https://www.washingtonexaminer.com/policy/economy/mortgage-demand-lowest-level-three-decades
"We are in the strongest job creating period in our history" -- Joe Biden, September 2023.
Mysterious Brown Things at the White House Mysteriously Disappear
"And at the same time inflation continues to fall" -- Joe Biden, September 2023
And then runs away without answering questions.
Mysterious Brown Things at the White House Mysteriously Disappear
"And at the same time inflation continues to fall" -- Joe Biden, September 2023
And then runs away without answering questions.
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Leaked Report! China’s Economic boom Was a Fraud & Now The World Knows It
Country Garden is going to go under and bring down the rest of the real estate market. Their bonds have dropped 70% in value. 85% of homes in China are sold before they are built and many people pay their mortgages before the homes are built.
China is uninvestable, exports have plunged, GDP has dropped significantly.
Real estate in China makes up 30% of the GDP, about twice what it is in the US.
Wow! Many countries economies and currencies are on the brink of collapse. When that happens they will be forced to sell their US debt. I'm thinking of Japan, China and Germany. But suppose that the US is the Great Babylon and they are destroyed in a single hour and all of a sudden that "golden parachute" of your US bonds is immediately worth 0! It will be a stunning collapse. The 911 attack costs about $35 billion and it almost brought down our insurance industry. This collapse will be much greater than $35 trillion. If 911 were a 7.0 Earthquake, this will be a 10.0 Earthquake. You can see how in one hour the entire economic outlook for the entire world changes dramatically, catastrophically. This is why in such a desperate situation they would all agree to the Mark of the beast and the beheading of anyone who refuses.