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It's Your Garden Variety Economic Collapse

By Misc follow Misc   2021 Feb 12, 1:02am 207 views   3 comments   watch   nsfw   quote   share    


Economic systems are faith based systems for the most part. Once people lose faith in the system, it collapses. Right now the Federal Government is forecasted to run a deficit of about $3.1 trillion, and that is before Biden's $1.9 trillion stimulus measures. The non-financial corporate sector of the economy is forecasted to go into an additional $1.2 trillion in debt. Our total economy is about $20 trillion per year. Add in some for the increase in household debt and state and municipal debt and a little more than a third of our economy is based simply on our ability to borrow additional money.

On top of this, as a country we've been running at an annual rate of over $1 trillion worth of capital gains income per year. That's money that asset holders get for selling an asset for a price higher than they paid without any work being done on their part, It is like welfare for the rich. It really doesn't matter the asset, just that it happens to a huge degree would befuddle people who work for their money.

Anyways, the peasants who work for their money aren't going to put up with a system where a huge number of people are supported by simply going into debt. It's hard to justify asset prices going up because of a massive increase in debt. It just doesn't make sense.

This bodes not well for the near term future.
1   HeadSet   ignore (3)   2021 Feb 12, 6:09am     ↓ dislike (0)   quote   flag      

Anyways, the peasants who work for their money aren't going to put up with a system where a huge number of people are supported by simply going into debt.

They will go along when they see how going into debt to buy a house worked out because the house price shot up. California is full of such people who see themselves as equity geniuses, and support the most leftist government in the country.
2   HunterTits   ignore (4)   2021 Feb 13, 6:34am     ↓ dislike (0)   quote   flag      

HeadSet says
California is full of such people who see themselves as equity geniuses


Same exact thing applies to all the Bitcoin fluffers, too.
3   porkchopexpress   ignore (0)   2021 Feb 13, 9:16am     ↓ dislike (0)   quote   flag      

Get out of USD and into stocks, real estate and/or crypto.

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