Day 232: 5 Minute Freewrite: Friday - Prompt: depression
Are We Entering Into The Greatest Depression?
Almost forty-two million Americans receive assistance from Government programs* to provide for their essential nutritional needs in the United States, and many more visit local churches and food pantries to receive emergency rations and supplies. Is this an indication of how close we are to another 1929 style depression?
Since the 2008 Recession, the Federal Government has more than doubled our National Debt which now stands at well over twenty-one trillion dollars**. Can we even visualize how much a trillion dollars is?
This is what one billion dollars looks like, now imagine one thousand of these to get a trillion dollars. It would cost every man, woman, and child in America over 64,000 each to pay off this debt. But that is just the National Debt, that does not include the State Debts, the municipal debts for all of the cities, the corporate debts, or any of the entitlements like Social Security and Retirement Funds that we paid into expecting a return after we could no longer work.
The current monetary system is debt based and it depends on ever increasing levels of debt in order to grow and sustain itself. But what happens when the interest being paid on all of that debt rises above the total income of all of the debt holders? It looks like we will soon find out.
**Disclaimer: I often use the freewrite prompt to tell a story instead of doing a pure freewrite, so they sometimes take longer than 5 minutes and usually have some editing. But I try to do my story straight through at one sitting without any unnecessary breaks.
Storefront Photo by Clementine Gallot
One Billion Dollar Photo by methodshop
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