[New post] Working Class Being Destroyed, Poverty and Debt Explode, World Wide Borrowing Binge
User ID posted: " https://www.youtube.com/watch?v=aiVeHi-1kBE WORKING CLASS BEING DESTROYED, POVERTY AND DEBT EXPLODE, WORLD WIDE BORROWING BING by Jayson Jaws Global debt nears $300 trillion, working class decimated causing more shortages of goods and services and hi"
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Hey everybody Boom Bust all right Bulls and Bears it is Friday late Friday night most of you are probably watching this on Saturday October 2nd either way thank you for being here it's been a big week is this the end of the dollar tree we see inflation just eating up the middle class credit card debt skyrocketing all sort of house all sorts of household debt skyrocketing we've got the money printers now buying multi-trillion dollar stimulus packages I mean the run-up in debt is absolutely out of control and most people are just oblivious people I think we're in this amazing economic recovery of course they're using the shutdowns and all of the new restrictions to justify the sad economic activity that we are noticing so remember there always has to be a scapegoat but let's take a look at the most important news here that I found today for you this one's out of Bloomberg global debt hits record 296 trillion dollars but here's the important part that you need to look at so first of all global debt grew by nearly five trillion dollars just in the second quarter so in the three month period five trillion dollars think about that also the jump was led by borrowing by households so households are borrowing like we've never seen before and of course banks can keep loaning money it doesn't matter how high household debt gets there's always going to be another person to come out and take out a loan to buy the ever bigger home to buy the ever more expensive car it's absolutely endless and it's madness but where does it end you tell me but yeah approaching 300 trillion dollars global debt this debt can never be paid off the whole world is in debt countries are in debt states are in debt cities are in debt citizens are in debt all to the hands of the money printers all right so think about this if all the money that countries have borrowed and pumped out there into the markets keeping the banking system operational if the first 100 trillion 200 trillion and now 300 trillion didn't work does anyone think that more stimulus packages and more debt is actually going to fix anything or are things going to continue to get worse we're going to continue to see rising prices demand outweighing production therefore prices rise even faster an absolute obliteration of the working force the working class the working people are being just pummeled with harassment and and rules and just all kinds of problems happening folks that's just too much to even you know comprehend but this is world wide now we're going to talk about what's happening in some other countries and remember the us is not immune to whatever we're seeing in other countries it's funny how people think that the united states is so great that what we see happening in some of these other countries will never happen here well look what's happening now and compare that to just a few years ago would you ever thought what we're seeing today would have ever happened in the good old USA well it's happening look what's happening in Brazil this is absolutely outrageous Brazil families face record indebtedness as interest rates rise so they kept interest rates low consumers buried themselves in debt just like we're seeing here in the us and now they decide to raise interest rates with record indebtedness so all the people with the unbelievable amounts of debt that they'll never pay off now they have to raise or they are raising interest rates so these borrowers or these debtors are going to be even in bigger trouble because now the cost of carrying that debt is going to be even higher for example all of the balance transfer offers from the credit card company all the debt consolidation loans all the personal loans payday loans god forbid people are getting payday loans but all these types of loans are going to get even more costly with higher interest rates you see higher interest rates was needed much sooner that would have prevented the debt because when interest rates are high then prices are lower think what would happen if they raised mortgage rates to 20 percent right home prices would crash because no one could afford that monthly payment right so instead of doing the higher interest rates earlier to prevent the debt to keep prices low they pumped up the bubble they encouraged debt and borrowing and now that people are in this record level of debt now they decide to raise interest rates so pretty crazy what if the fed decides to do that I don't think they will because there will be too many people basically calling them out but it's pretty interesting the timing on this what's happening in Brazil Venezuela introduces rather a new currency with six fewer zeros so what they're doing in Venezuela they are just cutting zeros off of their currency because the inflation is so out of control a new currency with six fewer zeros debuted Friday in Venezuela whose currency has been made nearly worthless by years of the world's worst inflation before the adjustment the highest denomination was a million dollar boulevard bill it was worth a little less than one quarter us dollars the new currency tops out at 100 boulevards a little less than 25 dollars until inflation starts to eat away at that as well right so they're simply changing the ink on the printer to fix the problem of rising prices instead of focusing on the cause of the rising prices which was too much money printing to begin with a lack of production in society not enough people making things or manufacturing things or growing things but a lot of people eating and consuming seems pretty familiar with America also doesn't it are pretty similar to America rather CNBC article key inflation gauge watched by the fed hits another 30 year high and these are the same people that said this was temporary that this was transitory inflation but people still listen to the fed like they're the experts they'll put Jerome Powell in a suit and have him go out there and read off of a script like he's some expert when at the same time it's absolute destruction of the economy all right let's talk about the stock market today on Friday the Dow Jones up 480 all major indexes in the green and all this in the face of all the bad news and inflation indicators with the destruction of the working class destruction of the labor force which is going to cause more supply chain issues and guess what even higher prices right so things are not looking good the markets do not care there's too many fat cats making too much money in these markets and the markets will continue to fly until somebody pulls the plug the plans are one of the plans or one of the options that you might see the money printers full is they're gonna wait until there's total chaos until there's people on the streets we see the eviction moratoriums actually ending here in California finally unless they jump in at the last minute here to extend it but the California eviction moratorium ends leaving tenants facing a tsunami of evictions so will it be mad max with millions of people on the street with a crime just more rampant even than it is now millions of people starving and probably losing their lives will that be the crisis that would trigger the money printers to go ahead and pull the plug and that way they can have something to blame well we don't know but either way yeah keep preparing because things are not looking very well here it looks like we've got a nightmare headed this way folks and I don't know how else to say it but keep stacking keep preparing country blessings and you know try to make plans for how to keep a roof over your head you may have family that needs you might need your family but try to stick together with your like-minded friends family of course and keep planning strategizing and stacking because this thing is going to get even uglier as we proceed thanks everybody for watching we'll talk to you very, very, soon please let me know what you think down in the comments talk to you very soon bye now peace
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