The global economy is running on debt money. And so it is only logical that the Keynesian aberration is leading to ever higher levels of debt, both in absolute and relative terms. Last year, the absolute level of debt reached almost 320 trillion dollars - a record figure! With the lockdowns in the wake of the 'pandemic', it was possible to reduce the world's relative debt, measured in terms of gross domestic product, by around 30% from 360% to around 330%. But here, too, a bottom has been found and relative debt is rising again. Good news for all MMTers, Keynesians and other hocus-pocus economists. Things are looking up, meaning down for those without hard assets and up for those close to the money printer. The biggest institutional heist in history (central banking) begins a new chapter.
42 sats \ 0 replies \ @FallingD02 8 May
As the good panda Stacker from YT says. "That debt is unpayable and will do nothing more than increase because their models are based on debt and going in another direction would not be profitable for them," the common people feel safe with the face value of the papers, ignoring what happens while they Based on debt that they will not pay and taxes that they steal from the common people, every day they accumulate more and more assets that, compared to the value of Fiat money, will become increasingly more expensive and unattainable for average people. This is where bitcoin works its magic as an asset 🍊⚡ accumulating is the way and we must endure the turbulence of the short term, and thus we can ensure a tomorrow, there is no other way, if you come from below and from 0
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42 sats \ 0 replies \ @Coinsreporter 8 May
Let it rise, it's good for Bitcoin. It's the part of process. To establish bew order, the old order needs to fall.
Mark my words—we'll be discussing in a few years how the fiat empire fell due to debt and printing excessively.
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42 sats \ 0 replies \ @justin_shocknet 8 May
Let's not forget most of that global debt is denominated in dollars... that sucking sound you hear is hyper-dollarization, the first step in hyper-bitcoinization
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42 sats \ 2 replies \ @Undisciplined 8 May
I think more people should be exposed to the idea of global debt, because it makes it more obvious that something's fundamentally screwed up.
We don't have any extraterrestrial debt obligations, so how can everyone be in debt to such an extravagant degree?
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21 sats \ 1 reply \ @TomK OP 8 May
Do you think that aliens would go shopping with a credit card on credit?
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0 sats \ 0 replies \ @Undisciplined 8 May
The data certainly make it look like we're the ones buying from the aliens on credit.
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21 sats \ 1 reply \ @riberet19 8 May
When will this end? Someday it will have to end, as it is well known that this is not sustainable, the moment we decide that we have to change the economic model may be too late.
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0 sats \ 0 replies \ @jp30566347 8 May
In the short/mid terms, I don't see hyper-bitcoinization unless there is a major crisis / black swan.
People aren't scared of debt and as long as poverty levels aren't causing major social issues, it will go on and on.
Hopefully, we can orange pill enough people that a side bitcoin economy is possible without too much harassment from fiscal authorities. I would be fine leaving in a place where I can find many businesses that accept bitcoins. Right now it's literally 0 where I live...
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0 sats \ 0 replies \ @Satosora 9 May
This is the world, not just the USA, right?
They are always going to rob from the middle and lower class to gain even more wealth.
That is the mantra for the rich. Only to benefit themselves.
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0 sats \ 0 replies \ @BitcoinAbhi 8 May
In my opinion all countries should at once stop fiat money and Adopt Bitcoin with love.
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0 sats \ 0 replies \ @nullama 8 May
Funny because I recently decided to close down my credit cards to test if I would be OK without them.
Turns out it's all good. I was just used to having credit (all paid out in full every month).
I do feel much better living with actually my savings instead of credit.
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0 sats \ 0 replies \ @cristaiji 8 May
Yeah i agree 100% the 'pandemic' was basically a part of the ongoing fraud that is central banking.
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0 sats \ 0 replies \ @BlokchainB 8 May
Such a clown world. Hard to take anything seriously with debt levels this high.
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0 sats \ 0 replies \ @jk_14 8 May
situation is dynamic in many directions:
#532737
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