By Daniel Lacalle
The $100 trillion fiscal timebomb means lower growth, lower real wages, financial repression, and destruction of the currencies’ purchasing power in the future.
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By Daniel Lacalle
The $100 trillion fiscal timebomb means lower growth, lower real wages, financial repression, and destruction of the currencies’ purchasing power in the future.
$100T in assets are in trouble ?
They're "in trouble" in the sense that there's no viable long term plan for how to pay back, of even service, all the public debt. Some form of default is going to happen, eventually.
Crazy to think so many people depend on payment of the $100T
It's a very impressive house of cards.
Here's the distribution of US debt holders as of last year: https://www.statista.com/statistics/201881/holders-of-the-us-public-debt/
Yes, how to solve it? The problem is the f*ing central banksters and banks!! The unnameable family running the central banks owes this money. And, if you think this is bad, you should look at the counter-party risk on derivatives! That will make you scream in insane panic. Banks, insurance companies, brokerages governments and central banks are all holding these risks and counter-party risks.
Own bitcoin and wait.
Yes, that may be the only way to avoid personal catastrophe when everything catches up with the crooks.