I suppose that congratulations are in order. It is no small feat to pile up a debt of $315,000,000,000,000, and we will never see a mountain of debt of this magnitude ever again after it comes crashing down. Even though delinquency rates are rising all over the world, as long as conditions remain at least somewhat relatively stable the game will be able to continue. … [Read more...] about The World Has Accumulated A $315 Trillion Mountain Of Debt, And Global Events Will Soon Bring It Crashing Down
Debt
Fiscal collapse accelerates with record levels of debt accumulating fast
In case you thought anybody in Washington was driving this thing, they are not. It’s official: the Department of Treasury is now issuing debt at pandemic levels. It’s worth noting the pandemic record was double the previous record, which had stood for 231 years. In raw numbers, the latest numbers for Q4 2023 show Treasury issued $7 trillion in new debt. For the … [Read more...] about Fiscal collapse accelerates with record levels of debt accumulating fast
Puerto Rico faces another disastrous bankruptcy deal
A New York federal judge is set to rule on a plan to restructure almost half of Puerto’s Rico’s debt in the coming weeks. The Financial Oversight and Management Board, an undemocratically elected fiscal control board commonly called “la junta”, came to an agreement on the plan with the holders of the island nation’s $73 billion debt. The plan includes a list of cuts to … [Read more...] about Puerto Rico faces another disastrous bankruptcy deal
Another Housing Crisis in America Is Coming
There is now an unprecedented spike in housing costs while COVID-19 has driven down the wealth of the average American. Let’s begin our discussion of the next Housing Crisis with a relevant personal anecdote, that is a microcosm of what is happening all over the United States right now. Some of my relatives made the wise decision to live within their means and build a … [Read more...] about Another Housing Crisis in America Is Coming
The Average U.S. Farm Is $1,300,000 In Debt, And Now The Worst Farming Crisis In Modern History Is Upon Us
We haven’t seen anything like this since the Great Depression of the 1930s. Leading up to this year, farm incomes had been trending lower for most of the past decade, and meanwhile farm debt levels have been absolutely exploding. So U.S. farmers were desperate for a really good year, but instead 2019 has been a total disaster. As I have been carefully documenting, due to … [Read more...] about The Average U.S. Farm Is $1,300,000 In Debt, And Now The Worst Farming Crisis In Modern History Is Upon Us
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