Wednesday, March 15, 2017
$21,714 For Every Man, Woman And Child In The World
According to the International Monetary Fund, global debt has grown to a staggering grand total of 152 trillion dollars. Other estimates put that figure closer to 200 trillion dollars, but for the purposes of this article let’s use the more conservative number. If you take 152 trillion dollars and divide it by the seven billion people living on the planet, you get $21,714, which would be the share of that debt for every man, woman and child in the world if it was divided up equally.
So if you have a family of four, your family’s share of the global debt load would be $86,856.
Very few families could write a check for that amount today, and we also must remember that we live in some of the wealthiest areas on the globe. Considering the fact that more than 3 billion people around the world live on two dollars a day or less, the truth is that about half the planet would not be capable of contributing toward the repayment of our 152 trillion dollar debt at all. So they should probably be excluded from these calculations entirely, and that would mean that your family’s share of the debt would ultimately be far, far higher.
Of course global debt repayment will never actually be apportioned by family. The reason why I am sharing this example is to show you that it is literally impossible for all of this debt to ever be repaid.
We are living during the greatest debt bubble in the history of the world, and our financial engineers have got to keep figuring out ways to keep it growing much faster than global GDP because if it ever stops growing it will burst and destroy the entire global financial system.
Bill Gross, one of the most highly respected financial minds on the entire planet, recently observed that “our highly levered financial system is like a truckload of nitro glycerin on a bumpy road”.
And he is precisely correct. Everything might seem fine for a while, but one day we are going to hit the wrong bump at the wrong time and the whole thing is going to go KA-BOOM.
The financial crisis of 2008 represented an opportunity to learn from our mistakes, but instead we just papered over our errors and cranked up the global debt creation machine to levels never seen before. Here is more from Bill Gross…
My lesson continued but the crux of it was that in 2017, the global economy has created more credit relative to GDP than that at the beginning of 2008’s disaster. In the U.S., credit of $65 trillion is roughly 350% of annual GDP and the ratio is rising. In China, the ratio has more than doubled in the past decade to nearly 300%. Since 2007, China has added $24 trillion worth of debt to its collective balance sheet. Over the same period, the U.S. and Europe only added $12 trillion each. Capitalism, with its adopted fractional reserve banking system, depends on credit expansion and the printing of additional reserves by central banks, which in turn are re-lent by private banks to create pizza stores, cell phones and a myriad of other products and business enterprises. But the credit creation has limits and the cost of credit (interest rates) must be carefully monitored so that borrowers (think subprime) can pay back the monthly servicing costs. If rates are too high (and credit as a % of GDP too high as well), then potential Lehman black swans can occur. On the other hand, if rates are too low (and credit as a % of GDP declines), then the system breaks down, as savers, pension funds and insurance companies become unable to earn a rate of return high enough to match and service their liabilities.
There is always a price to be paid for going into debt. It mystifies me that so many Americans seem to not understand this very basic principle.
On an individual level, you could live like a Trump (at least for a while) by getting a whole bunch of credit cards and maxing all of them out.
But eventually a day of reckoning would come.
The same thing happens on a national level. In recent years we have seen examples in Greece, Cyprus, Zimbabwe, Venezuela and various other European nations.
Here in the United States, more than 9 trillion dollars was added to the national debt during the Obama years. If we had not taken more than 9 trillion dollars of consumption and brought it into the present, we would most assuredly be in the midst of an epic economic depression right now.
Instead of taking our pain in the short-term, we have sold future generations of Americans as debt slaves, and if they get the chance someday they will look back and curse us for what we have done to them.
Many believe that Donald Trump can make short-term economic conditions even better than Obama did, but how in the world is he going to do that?
Is he going to borrow another 9 trillion dollars?
A big test is coming up. A while back, Barack Obama and the Republican Congress colluded to suspend the debt ceiling until March 15th, 2017, and this week we are going to hit that deadline.
The U.S. Treasury will be able to implement “emergency measures” for a while, but if the debt ceiling is not raised the U.S. government will not be able to borrow more money and will run out of cash very quickly. The following comes from David Stockman…
The Treasury will likely be out of cash shortly after Memorial Day. That is, the White House will be in the mother of all debt ceiling battles before the Donald and his team even see it coming.
With just $66 billion on hand it is now going to run out of cash before even the bloody battle over Obamacare Lite now underway in the House has been completed. That means that there will not be even a glimmer of hope for the vaunted Trump tax cut stimulus and economic rebound on the horizon.
Trump is going to find it quite challenging to find the votes to raise the debt ceiling. After everything that has happened, very few Democrats are willing to help Trump with anything, and many Republicans are absolutely against raising the debt ceiling without major spending cut concessions.
So we shall see what happens.
If the debt ceiling is not raised, it will almost certainly mean that a major political crisis and a severe economic downturn are imminent.
But if the debt ceiling is raised, it will mean that Donald Trump and the Republicans in Congress are willingly complicit in the destruction of this country’s long-term economic future.
When you go into debt there are consequences.
And when the greatest debt bubble in human history finally bursts, the consequences will be exceedingly severe.
The best that our leaders can do for now is to keep the bubble alive for as long as possible, because what comes after the bubble is gone will be absolutely unthinkable.
Credit to Economic Collapse
So if you have a family of four, your family’s share of the global debt load would be $86,856.
Very few families could write a check for that amount today, and we also must remember that we live in some of the wealthiest areas on the globe. Considering the fact that more than 3 billion people around the world live on two dollars a day or less, the truth is that about half the planet would not be capable of contributing toward the repayment of our 152 trillion dollar debt at all. So they should probably be excluded from these calculations entirely, and that would mean that your family’s share of the debt would ultimately be far, far higher.
Of course global debt repayment will never actually be apportioned by family. The reason why I am sharing this example is to show you that it is literally impossible for all of this debt to ever be repaid.
We are living during the greatest debt bubble in the history of the world, and our financial engineers have got to keep figuring out ways to keep it growing much faster than global GDP because if it ever stops growing it will burst and destroy the entire global financial system.
Bill Gross, one of the most highly respected financial minds on the entire planet, recently observed that “our highly levered financial system is like a truckload of nitro glycerin on a bumpy road”.
And he is precisely correct. Everything might seem fine for a while, but one day we are going to hit the wrong bump at the wrong time and the whole thing is going to go KA-BOOM.
The financial crisis of 2008 represented an opportunity to learn from our mistakes, but instead we just papered over our errors and cranked up the global debt creation machine to levels never seen before. Here is more from Bill Gross…
My lesson continued but the crux of it was that in 2017, the global economy has created more credit relative to GDP than that at the beginning of 2008’s disaster. In the U.S., credit of $65 trillion is roughly 350% of annual GDP and the ratio is rising. In China, the ratio has more than doubled in the past decade to nearly 300%. Since 2007, China has added $24 trillion worth of debt to its collective balance sheet. Over the same period, the U.S. and Europe only added $12 trillion each. Capitalism, with its adopted fractional reserve banking system, depends on credit expansion and the printing of additional reserves by central banks, which in turn are re-lent by private banks to create pizza stores, cell phones and a myriad of other products and business enterprises. But the credit creation has limits and the cost of credit (interest rates) must be carefully monitored so that borrowers (think subprime) can pay back the monthly servicing costs. If rates are too high (and credit as a % of GDP too high as well), then potential Lehman black swans can occur. On the other hand, if rates are too low (and credit as a % of GDP declines), then the system breaks down, as savers, pension funds and insurance companies become unable to earn a rate of return high enough to match and service their liabilities.
There is always a price to be paid for going into debt. It mystifies me that so many Americans seem to not understand this very basic principle.
On an individual level, you could live like a Trump (at least for a while) by getting a whole bunch of credit cards and maxing all of them out.
But eventually a day of reckoning would come.
The same thing happens on a national level. In recent years we have seen examples in Greece, Cyprus, Zimbabwe, Venezuela and various other European nations.
Here in the United States, more than 9 trillion dollars was added to the national debt during the Obama years. If we had not taken more than 9 trillion dollars of consumption and brought it into the present, we would most assuredly be in the midst of an epic economic depression right now.
Instead of taking our pain in the short-term, we have sold future generations of Americans as debt slaves, and if they get the chance someday they will look back and curse us for what we have done to them.
Many believe that Donald Trump can make short-term economic conditions even better than Obama did, but how in the world is he going to do that?
Is he going to borrow another 9 trillion dollars?
A big test is coming up. A while back, Barack Obama and the Republican Congress colluded to suspend the debt ceiling until March 15th, 2017, and this week we are going to hit that deadline.
The U.S. Treasury will be able to implement “emergency measures” for a while, but if the debt ceiling is not raised the U.S. government will not be able to borrow more money and will run out of cash very quickly. The following comes from David Stockman…
The Treasury will likely be out of cash shortly after Memorial Day. That is, the White House will be in the mother of all debt ceiling battles before the Donald and his team even see it coming.
With just $66 billion on hand it is now going to run out of cash before even the bloody battle over Obamacare Lite now underway in the House has been completed. That means that there will not be even a glimmer of hope for the vaunted Trump tax cut stimulus and economic rebound on the horizon.
Trump is going to find it quite challenging to find the votes to raise the debt ceiling. After everything that has happened, very few Democrats are willing to help Trump with anything, and many Republicans are absolutely against raising the debt ceiling without major spending cut concessions.
So we shall see what happens.
If the debt ceiling is not raised, it will almost certainly mean that a major political crisis and a severe economic downturn are imminent.
But if the debt ceiling is raised, it will mean that Donald Trump and the Republicans in Congress are willingly complicit in the destruction of this country’s long-term economic future.
When you go into debt there are consequences.
And when the greatest debt bubble in human history finally bursts, the consequences will be exceedingly severe.
The best that our leaders can do for now is to keep the bubble alive for as long as possible, because what comes after the bubble is gone will be absolutely unthinkable.
Credit to Economic Collapse
The Dark Secrets Of The Catholic Church Are Starting To Come Out
We aren’t supposed to talk about what goes on behind closed doors when the cameras are off and the public can’t see what is happening. There is corruption in virtually every large organization, but those that hold themselves out as “spiritual leaders” need to understand that they are going to be held to a higher standard than everyone else. And when those “spiritual leaders” greatly violate the trust that the public has put in them, the fallout can be absolutely devastating. In this article you are going to read about some things that are deeply disturbing. An immense wave of evil has swept through major religious organizations, and the Catholic Church is certainly no exception.
Most people know that Catholic priests are supposed to be celibate, but most people also know that this is often not the case. But what some priests in Italy has been involved in is shaking the Vatican to the core. The following comes from USA Today…
Lurid accusations of priests involved in sex orgies, porn videos and prostitution have emerged from several parishes in Italy recently, sending shock waves all the way to the Vatican and challenging the high standards Pope Francis demands of clergy.In the southern city of Naples, for example, a priest was recently suspended from the parish of Santa Maria degli Angeli over claims he held gay orgies and used Internet sites to recruit potential partners whom he paid for sex.
What was that priest thinking?
Surely he had to know that this stuff would come out eventually.
But often those in positions of power convince themselves that they can cover up their scandals forever. Of course usually it doesn’t end up working that way.
Another Catholic priest is being accused of having up to 30 different lovers…
In the northern city of Padua, a 48-year-old priest, the Rev. Andrea Contin, is facing defrocking as well as judicial proceedings amid accusations he had up to 30 lovers, some of whom he took to a swingers’ resort in France.
Initially Contin tried to deny the charges, but now so many women have come forward that he can’t lie anymore.
And one of his accusers is actually claiming that Contin urged her to have sex with a horse…
He is accused of farming out some of his lovers to men on wife-swapping websites, according to The Times.“He always carried a briefcase full of vibrators, sex toys, masks and bondage equipment,” one of his accusers said in her police statement, according to the Corriere del Veneto.She also accused Mr Contin of encouraging her to have sexual relations with a horse and beat her in the rectory on two occasions.
It would be tempting to dismiss these latest reports as “isolated anomalies” if so many similar reports had not surfaced in recent years. Sexual immorality appears to be running rampant among the clergy, and this is particularly true among the priests that are gay. The following comes from an outstanding article that was published by Vanity Fair…
At the Vatican, a significant number of gay prelates and other gay clerics are in positions of great authority. They may not act as a collective but are aware of one another’s existence. And they inhabit a secretive netherworld, because homosexuality is officially condemned. Though the number of gay priests in general, and specifically among the Curia in Rome, is unknown, the proportion is much higher than in the general population. Between 20 and 60 percent of all Catholic priests are gay, according to one estimate cited by Donald B. Cozzens in his well-regarded The Changing Face of the Priesthood.
Even if the true figure is near the low end of that estimate, that still means that one out of every five Catholic priests is gay.
Like many in the Protestant world, quite a few of these priests will preach Jesus on Sundays and lead a secret “double life” the rest of the week…
A few keep their sexuality entirely private and adhere to the vow of celibacy. Many others quietly let themselves be known as gay to a limited degree, to some colleagues, or to some laypeople, or both; sometimes they remain celibate and sometimes they do not. A third way, perhaps the least common but certainly the most visible, involves living a double life. Occasionally such clerics are unmasked, usually by stories in the Italian press. In 2010, for the better part of a month, one straight journalist pretended to be the boyfriend of a gay man who acted as a “honeypot” and entrapped actual gay priests in various sexual situations.
Another scandal in the Catholic Church that is making headlines lately comes out of Ireland. Authorities say that they have discovered the “remains of babies” in the sewers of a home for unwed mothers that the Catholic Church was operating. One historian believes that 800 children may have died there…
The remains of babies, ranging from new-born to three-years-old, have been found in the sewers of a former church-run home for unmarried mothers in Ireland, the government said on Friday.A report from an inquiry the government ordered in 2014 backed up a historian’s claim that up to 800 children may lie in an unmarked grave at the home. It said: “significant quantities of human remains have been discovered in at least 17 of the 20 underground chambers which were examined.”Radiocarbon dating found the remains, which ranged from 35-week-old fetuses to 3-year-olds, dated from between 1925 and 1961, when the home was run by the Bon Secours Sisters.
And it is believed that similar things were going on at other church-run homes. In fact, law enforcement is currently investigating 17 other facilities.
We are living at a time when there is great apostasy in the Christian world.
But if you stand up and preach righteousness and holiness, you will almost certainly get attacked, and in some countries there is even a chance that you will be thrown into prison.
For example, consider what just happened in the United Kingdom…
In what their lawyer calls a “modern-day heresy trial,” a British court has convicted two street preachers of a public order offense for preaching the Bible in public.The public prosecutor in the case claimed that publicly quoting parts of the King James Bible in modern Britain should “be considered to be abusive and is a criminal matter.”
So what did they say that was so bad?
Well, apparently one of the things that authorities were extremely concerned about is the fact that they were claiming that Jesus is the only way to God…
Prosecutor Ian Jackson also told the court, “To say to someone that Jesus is the only God is not a matter of truth. To the extent that they are saying that the only way to God is through Jesus, that cannot be a truth.”
I was absolutely stunned when I read that, but none of us should be surprised.
We always knew that great persecution of true believers was coming, and now Christians are actually being put in prison in the western world for simply sharing the gospel publicly.
In times of great darkness, light is needed more than ever, but often there is a great price to be paid for being a light.
Credit to End of the American Dream
IRAQI SOLDIER: ISIS WOULD CONQUER SWEDEN “IN A FEW HOURS”
According to an Iraqi soldier fighting against the Islamic State in Mosul, ISIS would be able to conquer Sweden “in a few hours”.
The account was published by war correspondent Magda Gad, who is currently covering the fight against ISIS in Iraq for the Swedish newspaper Expressen.
Gad told the fighter that some areas of Sweden are offering ISIS fighters returning from Syria housing, employment, education and financial welfare in an effort to reintegrate them into society.
Leftists in Sweden have supported such policies, arguing that it is better to help “extremists” than to abandon them. The question of whether or not letting ISIS jihadists back into the country in the first place is a good idea was not part of the discussion.
Reacting to the news, the Iraqi soldier, who “risked his life to fight against IS,” had “tears in his eyes,” according to Gad, who said the exchange represented her “worst moment” while in Iraq, and was even more depressing than being under heavy bombardment by ISIS.
Gad asked the soldier how long it would take ISIS to “take Sweden”.
“Not days. Hours. In a few hours,” he responded.
Gad went on to highlight how Sweden is a hotbed for ISIS activity. Sweden is routinely ranked amongst the top European countries in terms of producing Islamic State fighters per capita.
Osama Krayem, born in Malmo, Sweden in 1992, went to Syria to fight for ISIS in 2014 and returned to Europe posing as a refugee on a false passport. He went on to meet with Salah Abdeslam, one of the Paris massacre culprits, to help coordinate the attack.
Krayem was also involved in planning for the Brussels bombing and had intended to be the second metro bomber, but backed out at the last minute.
Ironically, Krayem had once participated in a documentary called Without Borders which was about “how to succeed with integration” of migrants into Swedish society.”
Gad also mentions Mohamed Belkaid, a 35-year-old Algerian who emigrated to and lived for several years in Sweden.
Belkaid was killed by Belgian police during the raid that led to the capture of Abdeslam, whom he was associated with. Two other suspects who escaped the raid, Ibrahim and Khalid El Bakraoui, went on to carry out the Brussels bombings a week later.
Belkaid was part of a terrorist network in Sweden with a man called Abu Omar, whose task was to recruit and finance ISIS jihadists, an operation he ran out of two stores based in Stockholm. Omar was also linked to the Paris and Brussels attacks and is still at large.
Credit to Infowars
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