US ECONOMY AND WHAT'S NEXT

in #money7 years ago

The consumer debt in America is at an all time high of 12.73 trillion and likely higher on the day of this post.
Majority of Americans don't even have 500 dollars in savings.
The unemployment rate is being measured in a way as to assume that unemployed Americans don't exist.
There is no way to pay off the debt. Consumers are tapped out. Things are at a point where payroll numbers are a joke. So what if we add 20k more part time jobs than expected. Things are at a point where the only thing left to do is more monetary easing or a complete reset. There has to be a credit freeze. The monetary system cannot sustain a credit freeze without a big hit. Will a big hit be allowed?
Well you either do further easing and keep the illusion strong or fold. Either way the hit is coming. In a situation like this will cryptos be left alone? No way in hell. But there is not enough money in cryptos yet for the government to benefit from a take down. Cryptocurrency won't get a legal status but will still be pumped up to the point where govt can benefit from it. Then the game will begin. So a lot more room to grow for the cryptos. The government rather deal with a digital world than physical assets. It is just easier. The crypto guys should play the game carefully. For some the faith is too strong and I would suggest never having faith in any Fiat system.
Are the Jobs coming back? No. In the current environment of obstruction, things can only get worse. It is time to get on the sidelines and watch it unfold. It is now too risky in the markets. The major holdings are now from the major central banks, like Apple stock and Swiss national bank. It is these holdings that have kept the market propped up. It is hard to see it crash with such interventions. So I have a hard time seeing markets crashing without central banks agreeing to do so. But even these holdings won't matter for the dollar crash as things unfold. I can't predict how this will go down but it gives me chills to imagine how bad it will crash. Gold is down and so is silver but it still brings me peace more than stocks or any crypto.
Sleep tight.

Sort:  

nice post @niariyanti

Thankyou for the kind words. What do you is coming for us ?

Checked your page. What language is that ?

The house that I sleep in is the only thing that brings me some comfort. Even that though the government can come and seize for any reason they want.

This post was resteemed by @resteembot!
Good Luck!

Learn more about the @resteembot project in the introduction post.

You were lucky! Your post was selected for an upvote!
Read about that initiative
logo

oh wao just amazing

Congratulations! This post has been upvoted from the communal account, @minnowsupport, by nedspeaks from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews/crimsonclad, and netuoso. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.

This post has received a 0.78 % upvote from @drotto thanks to: @banjo.

Coin Marketplace

STEEM 0.17
TRX 0.13
JST 0.027
BTC 61078.25
ETH 2671.36
USDT 1.00
SBD 2.51