It’s Beginning to Break
In the first three months of 2023, 183 major companies announced bankruptcies, S&P Global said, which is the greatest total for the period in the past dozen years.
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German bankrupcties:
Bankruptcies in Germany increased to 1478 Companies in May from 1428 Companies in April of 2023.
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Adding the first quarter months for 2023 of Germany’s bankruptcies gives us 4117 or 22.5 times more bankruptcies than in the US. If we compare the two countries’ GDP, the US GDP is 6.25 times Germany’s GDP. If we weight the percentage of bankruptcies based on GDP, this would be 22.5 times 6.25 or 140 times more German bankruptcies than the US.
Now consider:
Germany Reverses Course On Pledge To Meet NATO Military Spending Target
“From now on, we will invest more than 2 percent of the GDP into our defense year after year,” Chancellor Olaf Scholz declared in February 2022 when he announced the Zeitenwende, a sea change in German foreign policy.
This came after the Kremlin launched its war with Kiev, a de facto NATO member on Russia’s doorstep. In order to “weaken” Russia, the conflict quickly morphed into a proxy war against Moscow led by the Washington-led alliance.
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Germany is bankrupt but so is the US: both are dead countries walking. In Germany’s case, it is dead country running as its strings are pulled by the US Deep State.
Consider:
Israel’s Arrow 3 missile-defense sale to Germany gets US nod
The Israeli government has announced that it will sell the Arrow 3 missile-defense system to Germany, a $3.5 billion deal, marking it as Israel’s largest defense export ever.
The sale was made possible after U.S. Department of State officials notified senior defense leaders here of the approval. The step is necessary because the system is a co-development between Washington’s Missile Defense Agency and the Israel Missile Defense Organization, led by local contractor Israel Aerospace Industries.
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Why is the US co-developing missile systems with Israel? I wonder if the big guy gets 10% for “approving” this sale.
Now consider:
Nord Stream gas pipeline destruction an ‘act of war on Germany’
Mr Creighton said there was no gas running through the pipelines at the time of the explosion but the act itself was an “act of war” on Germany.
“It’s severely curtailed Germany’s ability – if it wanted to – to get certain energy supplies,” he said.
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Since the US was responsible for this act of terrorism, I think Germany is reconsidering its options:
The US is collapsing; people just do not know it. The government and media do a great cover-up and people want to believe that nothing is wrong. It does not hurt that the US dollar is the world’s reserve currency but that may change on Tuesday at the BRICS+ conference.
Our national debt is current $32,711 trillion. Our credit card debt just broke $1 trillion:
How much credit card debt do Americans have?
This is the first time credit card debt has topped $1 trillion in this country. The $45 billion second-quarter increase comes on the heels of a first quarter in which the credit card debt level remained unchanged. That lack of movement was noteworthy since it bucked decades-long historical trends, marking the first time since 2001 in which credit card debt didn’t fall in the first quarter. In fact, the only times card debt didn’t fall in the first quarter of the year since the New York Fed report began were 2000 and 2001. Every year since, card debt fell at least a little bit — until this year. That lack of a decrease may not bode well for Americans’ credit card debt numbers for the rest of the year.
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But that was last week, according to USdebtclock.org, US credit card debt one week later is $1.335 trillion. That would be an increase of credit card debt of 33% in one week. Someone’s information is off: do you trust the government figures or US debt clock? If the average credit card holder is carrying$7,822 at 22.6% interest, that is $1,768 per year just for interest. We can see the writing on the wall:
via WRSA
Remember the number of US bankruptcies earlier (183 for the first quarter). Let’s consider the first half of 2023 :
US bankruptcy filings surge in first half of 2023
“The first six months of 2023 saw a nearly 70 percent increase of total commercial Chapter 11 bankruptcies,” said Gregg Morin, Vice President of Business Development and Revenue at Epiq Bankruptcy. “This trend points to the economic trials businesses are facing right now, which are impacted by rising interest rates, inflation, and increased borrowing costs, to name a few.”
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If you want to see Germany’s future, look to Venezuela. If you want to see our future, look to Germany. The time frame for this collapse is yesterday as China has already realized. War solves all economic issues but this only applies to those countries who can fight and win a war. What do you think our odds are of winning a war when the whole world is against us?
David DeGerolamo
Source: https://ncrenegade.com/its-beginning-to-break/
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