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“The Latest Economic Numbers Scream Civil War and World War III”

Friday, June 30, 2017 15:49

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“The Latest Economic Numbers Scream Civil War and World War III”

by Common Sense

“The news headline should be, today, that Senator Dick Durbin and Bernie Sanders had direct contact with Hodgkinson prior to his assassination attempt upon the Republican congressman at the Congressional baseball team practice according to the AP. Durbin is refusing to make his email contacts with Hodgkinson public. However, as dramatic as is this information is, the real news is the economy.

Global debt levels have surged to an insurmountable level. For the only time in human history, the planet has recorded a whopping $217 trillion in the first quarter of the year. Since these are raw numbers, most will not appreciate the gravity of the world’s economic situation. The adding of $217 trillion dollars of debt in the first 90 days of 2017, represents 327% of the world’s annual economic output, otherwise known as the GDP. These figures represent the economic research of the Institute of International Finance (IIF).

The Path to Civil War: If one is a DUD (i.e. Dumb Until Death as Steve Quayle puts it), please allow me to present this very bleak picture in another light. If you make $100,000 per year, but you are acquiring debt that equals $327,000 in the same year, what will happen to your family economically? It is safe to say that your first casualty would be your house and the second would be your car. The new bankruptcy laws would prevent you from erasing your debt and you would be put on a permanent repayment plan. In other words, extreme austerity would be imposed upon you.

Let’s take that surging debt and apply it to your state, say the state of Illinois which is totally insolvent. I recently interviewed economist Robert Kudla about this dire situation, if the $327% debt to income ratio visits your state, which it is beginning to. The state would default on its obligations and stop paying. In the meantime, under the new bankruptcy laws, a judge could order the citizens of that state, say Illinois, to be put on a payment plan. This would represent permanent serfdom because there is absolutely no hope of repaying the debt. This scenario would represent permanent financial enslavement and could accurately be said to represent the biggest financial bailout of all the bailouts in history.

I asked Bob Kudla, with regard to his example, why would someone not just leave Illinois and go to a state that is not as debt ridden? He replied that by this time, Illinois would likely have reciprocity agreements with every other state. Let’s reduce this scenario to the lowest common denominator. When this 327% bto income ratio is fully realized, every welfare payment, pension, 401K, state-owed debt and virtually every source of income would be subject to partial or full confiscation. And the people would say “It’s time for a revolution!” Exactly, that is the point, and this would be the goal of a Deep State that has nowhere to run and nowhere to hide because of its exposed criminality.

Implications for the Emerging Economies Are Devastating: In a desperate attempt by emerging economies to keep up with the Jones’, these countries have increased their borrowing by $3 trillion to $56 trillion according to the IIF. This equals a staggering 218% of their combined economic output and this debt is being added to by 5% per year, meaning that in 10 years, the economic value of these countries would have declined by 50% due to this one condition and this does not account for the great wealth destroyer, the inflation rate.

China Pushed to Hyperinflation, Will War Follow? The biggest contributor to the world’ debt to income figure is undoubtedly China. According to the IIF, China has added $2 trillion in debt over the first quarter of 2017. The International Monetary Fund (IMF) told China to control its ballooning debt, describing it as unusually high for a developing economy. China’s debt now represents 260% of its GDP.

According to the IIF, European economies have cut debt levels by $2 trillion in the past 12 months and many economic leaders accepted this as good news and our economic problems are in the past. Not so, says the experts. And if you are an American, the news is not good for the you as the US is approaching $20 trillion, which represents 10% of all global debt.

At least the Chinese are trying to do something about their situation. They are getting their people to invest in commodities and not in currency based instruments. I joked with Kudla that the Chinese should just sell their people gold. He wasn’t laughing at that comment. The sad part of the comment is that there is not enough gold to cover this massive and continually growing debt. I have concluded that those who are in gold can somewhat sidestep the coming freight train. However, you will, at some point have to fight to keep your gold from your neighbors as well as your government.

The US Is No Longer Immune to Its Bad Decision Making: If you, as an American worker are solvent today and feel as if you are cheating the downward economic trend, your day of reckoning is soon approaching as the IIF came to the following conclusions:

“Rising debt may create headwinds for long-term growth and eventually pose risks for financial stability…”

“In some cases, this sharp debt build-up has already started to become a drag on sovereign credit profiles, including in countries such as China and Canada…”

By the way, 70% of the debt is in dollars. This may prove comforting in that when the US and its state government’s default on its debt obligations, the rest of the world has already crashed. In my humble opinion, the world will be embroiled in civil war or world war, or both.

The US and the EU could increase interest rates in the near future in a futile effort to cover the debt, in fact, the Federal Reserve is doing just that. However, borrowers will have a hard time repaying debt because it is a bottomless pit. What debt you ask? How about the student loan debt of $1 trillion dollars which is crippling the young generation. How about the car loan debt which extends loan payments out to seven years with almost no credit checks (do you remember the housing bubble of 2007?). And then of course, there is the monster we know as hyperinflation as the world’s fiat currencies begin to explode. thus making it more expensive for borrowers to repay.

Conclusion: As you read the following please keep in mind that the entire estimated GDP of the planet is less than $70 trillion.

The United States government takes in about $2 trillion dollars per year. However, we have a national deficit of $20 trillion per year and that is the good news. We have an unfunded liability of $240 trillion dollars (i.e. Medicare, Social Security, etc) and the 800 pound gorilla in the room is the credit swap derivatives debt of $1.5 quadrillion dollars with an annual interest rate of $505 trillion per year. You do not need a calculator to tell you what is coming.

How will you survive? There is no guarantee. However, one can increase their chances by acquiring food, water filtration, guns, ammunition, gold and medicine.”

- http://www.thecommonsenseshow.com/

Source: http://coyoteprime-runningcauseicantfly.blogspot.com/2017/06/the-latest-economic-numbers-scream.html

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