American Consequences - August 2020

By Kim Iskyan

The coming worldwide debt crisis will render to rubble the very foundations of the global economy. It’s not a question of if... It’s a question of when.

The Debt Jubilee Is Going Global

Whether it’s consumer debt, student debt, mortgage debt, municipality and state debt... a “debt jubilee” is a redistribution of money from those who have invested and saved – to those who can’t pay what they owe. But this is only one piece of the “debt mosaic” that stretches far beyond the U.S. borders. The rest of the world has also been drinking from the “debt punchbowl,” too... And next, American taxpayers might be footing the bill for debt jubilees in other countries... for places and people you may never have even heard of... for debt that’s

In the U.S., we can see exactly what’s happening by looking at the balance sheet of the Federal Reserve. The U.S. central bank has pumped upward of $3 trillion into the economy over the past few months alone. Its total assets now exceed $7 trillion. And it’s our children (and grandchildren) who will be paying it all off. That is, if it’s ever paid off. Today, policies, politicians, and political expediency are aligning for debt forgiveness and moratorium on an unprecedented scale.

 CLICK HERE TO READ THE WEB VERSION

American Consequences

65

Made with FlippingBook Ebook Creator