Debt -Crash Course Chapter 13 -There's Just Too Damn Much Of It - Video
Adam Taggart / Peak Prosperity
The fundamental failing of today’s global economy can be summarized simply: Too Much Debt
We have taken too much of it on, too fast, in too many markets around the world, to have any hope of making good on it. Not only does the math not work out, but also on a moral level, we are placing a tremendous obligation on future generations that will unfairly limit the prosperity they can enjoy tomorrow in order to finance our consumption today.
In the US alone, total credit market debt stands at over $57 trillion and is doing its damnedest to continue expanding exponentially. Since simple math shows us that this debt level cannot be supported, the key questions to ask at this stage are:
Will the unsupportable debt disappear via default, or inflation?
And very important:
When these debts do disappear, who will take the losses?
For the best viewing experience, watch the above video in hi-definition (HD) and in expanded screen mode
Coming next Friday: Chapter 14: Assets & Liabilities
For those who simply don’t want to wait until the end of the year to view the entire new series, you can indulge your binge-watching craving by enrolling to PeakProsperity.com. The entire full new series, all 27 chapters of it, is available — now– to our enrolled users.
The full suite of chapters in this new Crash Course series can be found at www.peakprosperity.com/crashcourse
And for those who have yet to view it, be sure to watch the ‘Accelerated’ Crash Course – the under-1-hour condensation of the new 4.5-hour series. It’s a great vehicle for introducing new eyes to this material.
With the background you’ve received to this point covering money creation, exponential growth, and the immensity of trillions, we are now ready to go into the first big “E”: the Economy, in greater depth
It’s the data in these next few chapters that leads me to conclude that the next twenty years are going to be completely unlike the last twenty years. So we begin our economic inquiry with “debt”.
Our debt-based money system has a fundamental shortcoming: it requires infinite growth to remain functional and infinite growth forever is simply not possible.
So studying debt … read more
http://www.peakprosperity.com/blog/87309/debt-crash-course-chapter-13
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