Thursday, October 8, 2020

👉Debt More Than $27 Trillion, Bigger than The Economies of China, Japan, Germany and India Combined

👉Debt More Than $27 Trillion, Bigger than The Economies of China, Japan, Germany and India Combined On October the 2nd, The national debt has for the first time, surpassed the $27 trillion mark. America’s National Debt is now greater than the size of the economies of China + Japan + Germany + India combined. Too much government debt right now and no means to pay it off. We will be in for a heap of trouble, no matter whose in office come 2021. Our growing National Debt is an issue for families across the US. The $27 Trillion national debt amounts to $210 000 per household or $82 000 per person in America. If every US household contributed $1000 per month towards paying down the national debt, it would take over 17 years. The 27 trillion dollars national debt is enough to cover a four-year degree for every graduating US high school student for 66 years. The interest that we pay on the National Debt is now the fastest-growing part of the budget. Nearly 1 billion per day on interest payments on the debt. Within ten years, the federal government will spend more on interest payments than research & development, infrastructure, and education combined. There was a time when the financial folks were fiscal conservatives. Times sure have changed. Why do our leaders still have jobs? Fire the Congress. The National Debt is so large that historically normal interest rates would CRASH the federal government as it tries to make its monthly interest payments. Normal interest rates would render worthless all the existing, ultra-low interest Treasury bonds, crashing all the big banks. As the Fed borrows and skyrockets the deficit into the stratosphere, and floods the system with every more artificially cheap money, consumers keep spending and borrowing. Zombies companies stay afloat as well. The Fed has destroyed price discovery, creative destruction, and free markets generally. All in the worship of Wall Street. Meanwhile, Mom and Pop retire cannot make any interest on their life savings and are forced to eat their seed corn or take their chances in the Wall Street Casino with the biggest everything bubble in history. The Fed painted itself into a corner and is now trapped. Oh well, at least we had that tax cut for the ridiculously rich, which did not trickle-down. This cannot go on much longer, and it's going to end very badly. The music is about to stop, find a chair. The GDP is 70% consumer spending tells us credit is used for consumption, not production. Demand for credit doesn't fall as production declines. Consumer prices will increase as production falls. Consumer DEFAULT will increase, especially since one can still get credit after defaulting. Also, older Americans want more savings interest. Thus, there is no such thing as naturally low interest rates in our future. Today's interest rates are low due to The Fed pumping endless credit into the markets. After the Fed stops, interest rates shall SKYROCKET because savers and creditors (including bond owners) have been screaming for interest income for decades. Every pension crisis is caused by too-low interest rates. With $27 trillion in National Debt, building a sustainable economic future becomes more challenging. At $27 trillion and rising, the National Debt threatens our economic future. I mean, it's not like we have to pay it back, right? It's the next three generations of Americans that will have to pay it back. So no problem, let's live like hogs. You know pigs get fat, but hogs get slaughtered!! Right now, there is no statutory debt limit. The USA could truly party like never before. Until we completely debase our fiat money. Bad things happen when a society's magic(currency/laws) stop working. We're in for a hell of a time. Welcome back to The Atlantis Report. You are here for your daily dose of the truth, the whole truth, and nothing but the truth. Please take a second to click the like button. Thank You. The debt was already at frightening levels, and adding 10% pushed it over the edge. The pandemic crisis has accelerated an already unsustainable fiscal trajectory. Congress says federal stimulus spending must continue due to the pandemic. According to Treasury Department data, the debt held by the public is $20.6 trillion, and the total outstanding national debt is more than $27 trillion. Which is now bigger than the U.S. Gross Domestic Product, the total size of the economy, which is about $21.4 trillion. They use another misleading concept. The argument they make is that the federal government has borrowed and spent more than $ 5 Trillion of money that was in the social security fund. So they use the term debt owned by the public to exclude debt owned by the Social Security fund. It is all debt that has to be paid back. The fact that $5 trillion of the debt is owed to another government agency means nothing!!! Just think of it as Enron accounting. What our government has been doing on many fronts are the same things that we have put people in jail for in the past - especially the Federal Reserve!! So how Much Debt is Too Much? It's no different than managing your own household debt. Once you get close to your own debt ceiling that you can manage, any emergency pushes you over the edge. The huge difference between the government ceiling and a household is the Fed. The household can't print their money, but the federal government can. So they kick the can via the Federal reserve. The federal deficit for the fiscal year 2019 that ended last September 30 was $984 billion. It has nearly quadrupled this year to a staggering $3.7 trillion, and this will skyrocket even further if another round of pandemic aid gets passed. These sums — so vast as to be nearly incomprehensible — get added on to the national debt, which as of last week surpassed the 27 trillion thresholds, up 33.6% on Trump’s watch. The US debt now exceeds the size of the entire economy . The Congressional Budget Office projects a federal budget deficit of $3.3T in 2020, more than triple that of 2019's shortfall, mostly from the economic disruption caused by the pandemic and the ensuing legislative response. In the fiscal year that begins on Oct. 1, federal debt held by the American public is also projected to reach or exceed 100% of US GDP for the first time since WWII. That would put the U.S. in an exclusive club of nations, including Japan, Greece, and Italy, which all have debt loads that exceed their economies. Ain't our lazy corrupt Do Nothing, corporate conservative Congress Great!! There are the best money can buy! Deficits don't matter, until one fine day, they do. How did you go bankrupt? Two ways, Gradually, then suddenly. Why should asset managers on commission worry about the national debt. They only worry about their commission. The interest rate shall artificially depress for the next decade or two or even into the infinity as the US is at no meant to pull itself out from the debt addiction. Everyone who read not from the mainstream media could figure out this is a bankrupt country. FED prints dollars and pass it to the treasury. The only reason it does not happen like what you witness in Zimbabwe is the US$ has a reserve currency status. However, we also knew that many countries are working to pass this and eventually abandoning using dollars for trade. The whole effects would surely make everyone who holds this currency nervous, and eventually, the trick of Modern Monetary Theory will come to an end. We have had high debt for so long that it has become accepted as a norm. We ignore the dangers. We have had a big surprise this year with the pandemic. We could have a big surprise another year that suddenly made the debt a much bigger problem. The reason the markets are not worried about the astronomical deficit rocketing ever higher is that they are making money, and they know when this house of cards collapses, it will Mom and Pop America and Main Street, not Wall Street, that pays the tab for this recklessness. Markets never worry. People profiting from current fiscal policy stay the course believing they'll take their profits before anything really bad happens. Thus far, there are plenty of greater fools doing their part to keep it going. It's all fun and games until the keg blows up from too much pumping. More pain is coming. It's okay to borrow to infinity for war, a virus, or to subsidize a tax cut to the extremely wealthy, but it's not okay for social security and medicare, which was allowed to be put in a trust fund (glorified IOUs). The veil is lifting. The magic is coming to an end. A great calamity is coming. Welcome to the arena! Interest rates at 0% force savers to push money into the market. The one percent insider traders make money on the push, then switch their positions to shorts and make money on the crash. Then the middle class is left holding the bag and have their nest eggs stuck in stocks that won't rebound for another ten years. Welcome to the American Dream. The insiders all sold everything weeks before the virus hit. What do you think they did in March? Buckle up! Welcome to the FED's ridiculously distorted economy. There is no free lunch. We Americans are taking it out on other countries that use the U.S. dollar. In Forex markets, the dollar has been falling. Other countries feel pressured to devalue their own currency, eating American inflation. China, a major inflation eater for Americans, is now balking because of the trade war. It hurts other countries to make life easy for us, especially their working-class people. But the real deal is that the dollar has the value it has because its the currency the world deals oil in. What would a dollar be worth if China's Petroyuan is launched as an alternative following a US loss of control over most of the oil in the middle east? Half the value? A third? Can you imagine seeing the money you have been saving for pension all your life lose 70% of its value overnight? The fiat money system has now been corrupted to the point where predators are now trying to feed on each other, having killed the real economy that was their main source of food. Fiat currencies are headed for the trash heap. The chance of the price of resources going up is as close to a lead pipe guarantee as at any time in world history. The U.S. government doesn't care how much money it hands out; this is the last raid on the treasury before the country goes bankrupt. The world has entered the greatest depression in history. The pandemic didn't cause it. $250 trillion in debt that can mathematically never be repaid caused it. Something bad is already happening.The central bankers are waging war on us. America is being taken down, and Americans are too braindead to even notice. The central bankers are getting ready to usher in their cashless society, global cryptocurrency enslavement plan. And of course, Americans have no clue. This was The Atlantis Report. Please Like. Share. Leave me a comment. Subscribe. And please take some time to subscribe to my back up channels; I do upload videos there too. You'll find the links in the description box. You will also find a PayPal link if you want to make a donation. Thank you wholeheartedly to all those of you who have donated. Stay safe and healthy friends! The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more

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“Control oil and you control nations; control food and you control the people.” Henry Kissinger

once a standing army is established, in any country, the people lose their liberty.”
George Mason

“Military men are dumb, stupid animals to be used as pawns for foreign policy.”
Henry Kissinger

“If you are an ordinary person, then you can prepare yourself for war by moving to the countryside and building a farm, but you must take guns with you, as the hordes of starving will be roaming. Also, even though the elite will have their safe havens and specialist shelters, they must be just as careful during the war as the ordinary civilians, because their shelters can still be compromised.”
Henry Kissinger

"We don't let them have ideas. Why would we let them have guns?" Joseph Stalin

The people who cast the votes decide nothing. The people who count the votes decide everything.
Joseph Stalin

Governments keep a lot of secrets from their people . . .
Why aren't the people in return allowed to keep secrets
from the government?


“Some call it Communism, I call it Judaism.”

Rabbi Stephen Weiss

“Anti-Communism is Anti-Semitism.”
Jewish Voice, July - August 1941

Taxing People is Punishing Success

There's the rich, the poor, and the tax payers...also known as the middle class. Robert Kiyosaki

The Tax you pay is The Bill for Staying Stupid

Stefan Molyneux

“The modern banking system manufactures money out of nothing. The process is, perhaps, the most astounding piece of sleight of hand that was ever invented. Banks can in fact inflate, mint and un-mint the modern ledger-entry currency.” Major L L B Angus

The few who understand the system will either be so interested in its profits or so dependent on its favours that there will be no opposition from that class, while on the other hand, the great body of the people mentally incapable of comprehending the tremendous advantage that capital derives from the system will bear its burdens without complaint and perhaps without even suspecting that the system is inimical to their interests.
The Rothschild Bros

"Debts must be collected, bonds and mortgages must be foreclosed as rapidly as possible. When, through a process of law, the common people lose their homes they will become more docile and more easily governed through the influence of the strong arm of government, applied by a central power of wealth under control of leading financiers.

This truth is well known among our principal men now engaged in forming an imperialism of Capital to govern the world.

By dividing the voters through the political party system, we can get them to expend their energies in fighting over questions of no importance. Thus by discreet action we can secure for ourselves what has been so well planned and so successfully accomplished."

USA Banker's Magazine, August 25 1924

Cutting Tax Rates stimulates Economic Growth creates more Profit , more Jobs and therefore The Treasury ends up with more Tax Money

Taxation is legalized Theft

"The Objective of the Bank is not the control of a conflict , it's the control of the debt that a conflict produces . The real value of a conflict , the true value is in the debt that it creates . You control the debt , you control everything . this is THE VERY ESSENCE OF THE BANKING INDUSTRY , to make us all , whether we be nations or individuals , SLAVES TO DEBT " An UNKNOWN Banker

Patriotism is the last refuge... to which the scoundrel clings .... Steal a little and they throw you in jail ..steal a lot and they make you king ....

Bob Dylan

"Corporations are stealing billions in tax breaks, while the confused, screwed citizenry turn on each other. International corporations have no national allegiance, they care only for profit." Robert Reich

There is NO political answer to a spiritual problem!
Steve Quayle

litical Correctness is a Political Stand Point that does not allow Political Opposition , This is actually The Definition of Dictatorship
Gilad Atzmon

The modern definition of racist is someone who is winning an argument with a liberal
Peter Brimelow

When People lose everything and have nothing left to lose , They Lose It !


Your Greatest Teacher is Your Last Mistake

The one who Controls the Education System , Controls Perception

"The world will not be destroyed by those who do evil, but by those who watch them without doing anything."

Albert Einstein

In The Left Nothing is Right & in The Right nothing is Left

No man escapes when freedom fails; The best men rot in filthy jails. And those that cried 'Appease! Appease!' Are hanged by those they tried to please

Freedom is not Free

Don't Steal The Government Hates The Competition

Ron Paul

"Buy The Rumor , Sell The Fact " Peter Schiff

You can love your Country and not your Government

Jesse Ventura

" The Government Works for ME , I do not answer to them They Answer to ME "
Glenn Beck

"Tyranny will Come to Your Door in a Uniform "
Alex Jones

"The Government is not The Solution to our Problems , The Government is The Problem "

Ronald Reagan

"The price good men pay for indifference to public affairs is to be ruled by evil men." Plato

The world is a tragedy to those that feel, and a comedy to those that think...Beppe Grillo

"The people should not fear the government for it is the government who should fear the people" UNKNOWN

"If You are looking for solutions to the world's problems , look in the Mirror , You Are The Solution , You have the power as a human being on this planet " UNKNOWN

"They don't control us , We empower them " UNKNOWN

"Serial Killers do on a Small Scale What Governments do on a large one..."

Serial Killer Richard Ramirez

There is a Class War going on in America, & unfortunately, my class is winning." Warren Buffet

"When the people fear their government, there is tyranny; when the government fears the people, there is liberty."

Thomas Jefferson

"College is a waste of Money"
Albert Einstein

Schools manufacture people who think that they're smart but they're not.
Robert Kiyosaki

Education is what you learn after you leave School
Robert Kiyosaki

" ‏Schools were designed to create employees for the big corporations."
Robert Kiyosaki

"If a law is unjust, a man is not only right to disobey, he is obligated to do so" Thomas Jefferson

Dissent is the highest form of patriotism
Thomas Jefferson

“True education makes you feel stupid. It makes you realize you have so much more to learn.” Robert Kiyosaki

"One day your life will flash before your eyes. Make sure it's worth watching." - Gerard Way

"Aspire not to have More but to be More "

The losers in life think they have all the answers. They can’t learn because they’re too busy telling everyone what they know.
Robert T. Kiyosaki ‏

"Failure is simply the opportunity to begin again. -This time more intelligently." Henry Ford

What You Own Owns You

If you expect the government to solve your problems, you have a problem. Robert Kiyosaki

"Those who give up their liberty for more security neither deserve liberty nor security." Benjamin Franklin

"None are more hopelessly enslaved than those who falsely believe they are free.” -
Johann Wolfgang von Goethe

"Always trust someone who is seeking the truth , never trust someone who found it" Jordan Maxwell

Be The Change you want to see in The World

Failure inspires winners but defeats losers
Robert Kiyosaki ‏

“If you are planning for a year, sow rice; if you are planning for a decade, plant trees; if you are planning for a lifetime, educate people” A Chinese Proverb

"First they came for the Socialists, and I did not speak out--
Because I was not a Socialist.

Then they came for the Trade Unionists, and I did not speak out--
Because I was not a Trade Unionist.
Then they came for the Jews, and I did not speak out--
Because I was not a Jew.
Then they came for me--and there was no one left to speak for me." UNKNOWN