Western nations are bankrupt. This is “old news” to regular readers, as is the (obvious) conclusion that these corrupt/insolvent regimes will once again have to resort to History’s economic get-out-of-jail-free card: Debt Jubilee.
What has been far less-obvious is what form such a “jubilee” would take. We live in a Crime Syndicate system. Literally every facet of our economies has now been warped into a paradigm of giving-to-the-Rich (generally the very, very rich), and stealing from everyone else. In such an environment, would we really expect a blanket Jubilee, meaning that everyone’s debts would be wiped clean?
That would be the fair thing to do. That would be the economically rational thing to do. And it is precisely for those reasons that readers have been previously warned not to expect such a Jubilee in the West. It would be recklessness of the highest order for us to begin to (deliberately) amass debts of our own, in the naïve expectation that our treatment would be the same as that of the Fat Cats above us – in our two-tier, double-standard societies.
This brings us to China. China’s own debt-levels, both inside and outside of government, have also been soaring. Indeed, debt-levels have been spiraling in China (in recent years) at an almost Western rate.
This is peculiar. While China’s government has only partial and indirect control over the levels of private and corporate debt which are accumulated in China, it has much greater control over the rate at which its sovereign debt is rising.
This Could Be A Problem: China’s Debt-To-GDP Rises To a Gargantuan 346%
Note the hyperbolic analysis which accompanies the hyperbolic headline:
When debt-to-GDP rises as rapidly as it has, and to as high (and rising!) a level as it has in China, a weaker currency invariably follows.
The analysis above assumes that we live a world of markets (and thus market fundamentals). As regular readers know all-too-well, we no longer have “markets” – at all, anywhere. What we have, instead, are systemic price-rigging operations, in all of our (former) markets, all of the time.
This systemic price-rigging is done via the computerized trading algorithms of the banking Crime Syndicate, more specifically, the single Master Algorithm, by which the bankers play the role of Pied Piper in these former markets – and then lead all the “rats” around by the nose. Observe the chart which accompanies the hyperbole above:
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