Governments all over the world are recklessly spending far more than they get in taxes!
If any private individual or company did this then they would soon be bankrupt.....but not governments..as they have their greedy grubby incompetent hands on those money printing press & they are not shy about using them! When governments grossly overprint their currencies then nobody will want to hold those currencies because of the inflationary (value losing) effect.
Here is the problem specific to the USA....the Baby Boomers' spending had peaked in 2007....The government had introduced "Quantitative Easing" to fill the gap in spending. But quantitative easing has done little except to create the biggest financial bubble asset in history. One just has to look at the skyrocketing stock market to see how true this is....a rising stock market in an environment of extraordinarily poor economic & GDP growth....which lulls us into a hypnotic state that we are doing great, but in fact, we are being badly
[email protected] we have been in a non-recovery economic mode for the last decade!
Since around 2009 the USA has had a GDP growth below 1.8%....that is, in spite of untold massive & wasteful stimuli of trillions of dollars into the US economy by its government....both in an environment of incredibly LOW inflation. Historically, in this scenario, there should have been HIGH INFLATION & MASSIVE GROWTH....but instead, we have very poor growth & low inflation! The massive infusion of dollars is doing ZERO to the American economy except barely keeping its head just above the water & adding TRILLIONS of USDs of unpayable DEBT!
Most governments and their Central Banks have blown this.....so badly mismanaged their currencies over the last decade that they are simply unsalvagable & unsolvable. And the only plan that they have in place....has been to continue to massively print currencies to remain relevant. Instead of admitting that their economies are declining & what is needed instead is to allow recession, & allow the debt & bubbles to collapse....
You can only do this for so long before financial institutions lose control of the economy & everything comes crashing down! A crash that is likely within the next year or two!
Our current financial system will collapse....The only saviour in this will be Bitcoin which will likely become the world's currency, after dipping with that collapse!
