DEBT Is The New Normal! How We Are Inching Closer To The FIAT Cliff.
The world is becoming a more and more indebted place the latest report from the US should scare us all! 50% of people over 75 years have debt. It is up from 1992 is 25%. There is no doubt that people are getting older and older and have more and more debt. Thet number will increase until the fiat system collapses under the debt overload.
As you can see the debt load increases every year and it is not to slow down. Although the debt left is mostly mortgage debt the sign of the debt increase is just one of the times. As debt increases every year there is only one way out over time, and that is a default. https://smartasset.com/credit-cards/the-average-debt-by-age
If you look at this article describing the average debt of Americans based on debt shows how bad the debt problem has become. The worst about these stats is that the most significant source of debt and the most prominent asset both were their primary residence. It is not good as your private house is not an asset unless you sell it for a profit or live in it and rend a part of it out to pay off all of their expenses and be in plus.
The most prominent failure is the belief that your house is not an asset. The only way it is an asset is described above, and the problem is that you get the feeling your house is an asset and continue to use it as an ATM until it stops going up in value and then falls when the debt becomes unsustainable. The banksters have convinced the population that your house is an asset so much that their FED helped lowering interest rates to keep people feeling rich even though it will be short lived and people will, unfortunately, get a rude awakening yet again!
To end the article I have a new saying that will be known as reality.
TILL DEBT DO US PART!
Peace, Love and Voluntaryism,
John
I live in Canada. You should take a look at what ridiculous debt levels we have here, if you haven’t already.
https://steemit.com/money/@theeconomictruth/canada-s-books-seems-to-have-a-problem-balancing-themselves-where-did-trudeau-take-his-financial-advice
https://steemit.com/money/@theeconomictruth/the-canadian-debt-apocalypse-my-predictions-are-coming-true
https://steemit.com/money/@theeconomictruth/canada-is-a-ticking-time-bomb-how-debt-is-about-to-destroy-the-economy
https://steemit.com/money/@theeconomictruth/are-canadian-banks-insolvent-if-people-withdrew-their-money-is-it-game-over
https://steemit.com/money/@theeconomictruth/canada-s-credit-unions-are-bankrupt-what-you-need-to-know-about-your-credit-union
And I've done about 30 videos and I've also written a book a couple of years ago publishing it last year :)
https://www.amazon.ca/Canada-Greatest-Economy-World-yourself/dp/1988497051/ref=tmm_pap_swatch_0?_encoding=UTF8&qid=&sr=
Enjoy the reading :)
Ive read all about it in multiple places. It’s absurd. I just hope another recession doesn’t hit any time soon, for the sake of my fellow Canadians.
We are one of the worlds most indebted countries. So a recession can hit at any time. I think this time since our central banks have ran out of ammo there is a depression(Deflation) voming ending with a inflation panic (hyperinflation) from central banks trying to save the economy.
I don’t see what else they can do other than print, print, print more money and put interest rates to 0% if another recession/depression hits.
Agree, all debt is out of control, the punch bowl will end soon.
The looting stage is almost over. A massive culling of our species is next. My hope is that my friends, warriors fighting to further individual liberty, are well prepared for what is coming. It is going to be ugly.
Things need to change for sure
very good detail informations
Trying to explain to people that there house is not an asset
has been super hard.
Further, people who end up in bankruptcy , often, still do not realize it.
The house is an asset to the bank and the court trustee.
And we don't even own the house, even if it is paid off. It is rented from state.
But, this is what happens when money is transformed into debt.
Illinois is going to collapse under its own fat ass of debt .
Die in debt, die in profit is my motto ;-)
controlled opposition?
is cnn don lemon listening to hieroglyphics?