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In 2020, the global debt was $220 trillion. It has now risen to $300 trillion – that’s three and a half times global GDP.
Governments everywhere are going to have push up interest rates to try to keep inflation down. And when they do that the cost of servicing all that debt is going to bankrupt millions, destroy thousands of companies and put nations in peril. No country on earth is immune. Both the UK and the USA could go into default. Services are going to have to be cut. Pensions and other payments will have to be halted.
Spending on health and education will be slashed as more and more money goes on buying bombs for the Ukraine war. The cost of rebuilding Ukraine will probably be close to a trillion dollars. Taxpayers are going to be expected to find the money – most of which will doubtless be stolen. And, as I predicted many weeks ago, western governments are preparing for war with Russia. NATO is preparing for war. And the head of the British armed forces says we must be ready for war. The only people who will gain will be the arms companies.
originally posted by: ancientlight
Oh good , I needed another dose of doom & gloom.
I know, you're right, I just can't deal with it .
Life is stressful/depressing enough, as is, and all this on top as well
What can any of us do really? Unless you're an avid hunter , black belt holder, already living 100% hidden off grid , I don't see how this can go well. I have my elderly mom, incapable brother, and minor child to worry about with no support/help from anyone.
originally posted by: v1rtu0s0
originally posted by: ancientlight
Oh good , I needed another dose of doom & gloom.
I know, you're right, I just can't deal with it .
Life is stressful/depressing enough, as is, and all this on top as well
I try to stay positive but we need to face reality. It's possible many won't survive but people who prepare will have a much better chance.
originally posted by: MiddleInsite
I'm getting a Y2K, 2012, the comet is coming soon, planet alignment, pole shifting, chicken little, the sky is falling kinda vibe.
Once you have lived a bunch of decades, you will realize that this tune has been sung many a time. I've heard it before. The collapse of society as we know it. Economic doom and gloom. The collapse of the dollar. It's always going to be some people's schtick. Done mostly for monetary gain, but sometimes, like in the case of the People's Temple, for power.
Yes, the end will come, and it might be six months from now. Might be tomorrow. But I know one thing for sure. It ain't right now.
Don't worry, be happy.....Bobby McFerrin.
originally posted by: BelleEpoque
There have been a lot of coal train wrecks. We rely on coal for over 30 % of our energy..
Derails Kansas
Nebraska
Illinois
Iowa: www.thegazette.com...
Virginia: www.wric.com...
originally posted by: MiddleInsite
I'm getting a Y2K, 2012, the comet is coming soon, planet alignment, pole shifting, chicken little, the sky is falling kinda vibe.
Once you have lived a bunch of decades, you will realize that this tune has been sung many a time. I've heard it before. The collapse of society as we know it. Economic doom and gloom. The collapse of the dollar. It's always going to be some people's schtick. Done mostly for monetary gain, but sometimes, like in the case of the People's Temple, for power.
Yes, the end will come, and it might be six months from now. Might be tomorrow. But I know one thing for sure. It ain't right now.
Don't worry, be happy.....Bobby McFerrin.