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The Global Debt Trap - Paradise Lost

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posted on Jul, 22 2020 @ 06:57 PM
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The 3rd episode of the Paradise Lost Financial Podcast came out a few weeks ago, entitled "Global Debt Trap". Appropriate, considering the globe debt amount is something like $275 TRILLION (here is an article from January, before the pandemic that uses the figure of $253 trillion and is has ballooned significantly in 6 months: www.cnn.com...).

Having seen the US printed over $6 trillion since the pandemic and our economy (and society) are essentially ghosts of their former selves even though both were already a house of cards: www.washingtonpost.com..." target="_blank" class="postlink">The U.S. has thrown more than $6 trillion at the coronavirus crisis. That number could grow.

Personal and public debt are increasing, 43,000 households in Silicon Valley, CA are at risk of eviction (link) , and this is all just looking at the US.. the global macro picture is equally bad.

In the episode he mentions the "World Debt Clock" which is pretty eye-opening if you haven't seen it, showing national debt of 20 of the largest debtor nations in the world (not sure if they are THE 20 largest, but that's my assumption): usdebtclock.org...

These are crazy times but it is somewhat encouraging that there ARE actually people aware of the dangers of unrestrained money printing and socialist policies we are currently witnessing.

For those who follow the economy, personal finance, investing and the likes I highly recommend this channel. Here's the link for episode 3: link

Earlier episodes/threads about the series:

Phantom Finance - Episode 1 of New Podcast

Financial Engineering - Episode 2

Hope someone else enjoys this - I listen to channels like this as I catch up on news and get started in the mornings, it's become something of a ritual and routine in these crazy times where I don't get to leave my house much.

Thanks ATS fam, always like hearing what others here have to say about important topics/resources like this

-FamCore


edit on 22-7-2020 by FamCore because: (no reason given)




posted on Jul, 22 2020 @ 07:34 PM
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I heard a fact recently, I think is accurate, that US debt grew more in the past 3 months than it did during the entirety of last year.

Let that sink in.

Google the term parabolic; that is the growth rate of US debt obligations.

"Borrowing into oblivion"

Thanks OP, will catch up on your content.
edit on 22-7-2020 by SleeperHasAwakened because: (no reason given)



posted on Jul, 22 2020 @ 07:43 PM
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a reply to: SleeperHasAwakened

I've followed the USDebtClock consistently for years and that anecdote does sound accurate.

Really scary thing? Click the "2024" button and it shows the US national debt figure at over $45 TRILLION or $333,000 per taxpayer... holy F



posted on Jul, 22 2020 @ 10:17 PM
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a reply to: FamCore

That is frightening. But that is at current spending levels. I somewhere deep down hope there is something we dont know and the debt is not as important as we think. We have a Ace in the hole somewhere that none of us know about. On the face of it things are pretty scary.



posted on Jul, 23 2020 @ 12:41 AM
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I have never owned a house yet. We bought some nicely located land at a great price in full. So I am actually approaching $0.00 debt at a good pace. I want to get to zero, and then see what I can do with all the open credit. I once made a case for totally maxing out all your credit lines getting supplies and equipment for shtf if you could very closely plot a time line for shtf-day/hour.

I dont really see paradigm shift as a true shtf get your bug out bag moment, so I may just buy more liquidity.

More land more gold are usually sound options. I kind of want to put more resources into that modular utility device I imagined. A cell phone where the case is already built in removable layers like a lifeproof and each device like Wi-Fi chips, microphone, GPS chip, camera are all removable sockets utilising tiny pinhole spring in a similar fashion as the method which opens the SIM card tray.

So the 5g auto tap of powered devices not even within a connected building are still accessed by a pervasive 5g frequency that is auto tapped into any of these devices. The modular digital utility device provides the ultimate in true customization. Now even the same models of phone can have differing features.

We want to make your pocket pc just as customizable as your desktop PC. And the tools to do so are also a welcome add on sale. Now you can even keep up with the chip set upgrades by pushing a pin into a tiny hole, carefully whisking away with small tweezers, and dropping in Qualcomm or Amd latest chip set.

Sounds crazy??? Well I'm a risky fellow and I feel it is a challenge and a product people do not realize they want or need until its on sale in a store where they can play with it.

Thats my ten year goal.



posted on Jul, 23 2020 @ 07:34 AM
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a reply to: worldstarcountry

Great post WSC, your idea for a "one-stop-shop" device sounds extremely complicated but potentially something game-changing.

I've seen others on public forums mention "Maxing out credit cards and lines of credit" similarly. Of course I never find out if these folks ever do it or what happens down the road but I also think that is asking for trouble even with all of this uncertainty and naive politicians & citizens saying we should just "cancel" debt.

I agree that precious metals and land will become more and more valuable, but I also recognize that TPTB can always move the goal posts, as they tend to do when backed against a corner.

I wouldn't invest a ton of my currency into PMs because the government could simply add a huge windfall tax or make a law that we need to turn them in (like they did way back in the US), but it is still a wise hedge/wealth preservation tool.

Thanks for the insights my friend, always love your line of thinking



posted on Jul, 23 2020 @ 07:53 PM
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a reply to: FamCore

I was just reading this:

The Lost Decade - Japan


It seems like it is the same case the world over -

Gov't lackeys blowing/(spending) money for the 'International Banks'..

I'm not gonna make believe I understand whats going on in detail, but I suspect this is all part of their plan for whatever their reason, prob to take control of the world.



posted on Jul, 23 2020 @ 07:59 PM
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originally posted by: FamCore
a reply to: worldstarcountry

I agree that precious metals and land will become more and more valuable, but I also recognize that TPTB can always move the goal posts, as they tend to do when backed against a corner.

I wouldn't invest a ton of my currency into PMs because the government could simply add a huge windfall tax or make a law that we need to turn them in (like they did way back in the US)..


My friend replied the same way.. If you are going to worry about that, I mean anything can happen then - They can confiscate private - anything.. I wouldn't let that fear prevent you from getting your hands on some real money.



posted on Jul, 23 2020 @ 09:32 PM
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a reply to: nOraKat

Agree. Also, as far as the metals/bullion go, they have to be able to find it to prove you still own it . unlike electrons and photons in a screen, they cannot easily revoke your hard asset when it is not in their possession.

I suppose the land is more vulnerable to seizure, but I think they are less interested in confiscating isolated land that would need paid guards to keep secure away from quick backup.

Definetly they would confiscate the gold and silver, but like I said they got to find it first 😉




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