My weekly newsletter is a must-read for investors who want to find out about the trends to watch out for. Get a Bird’s-Eye View of the Economy with Thoughts from the Frontline No matter what, hard choices will bring political and market turmoil. Will voters decide to tax “the rich” more? Will they increase their VAT rates and further slow growth? Will they reduce benefits? Oops.Ī time is coming when people will realize that these cannot be met. That is not even counting the $100 trillion in US government unfunded liabilities. They werent on our side necessarily, but they went to the Agenda 21 conference in good faith, figuring there was going to be some negotiation to dial back the development.
Sometime this year, world public and private debt plus unfunded pensions will surpass $300 trillion. The Great Reset was introduced by the World Economic Forum, which is tightly coupled to the United Nations and the World Health Organization. Repaying that debt requires either reduced future spending or some kind of debt liquidation. If interest rates were to rise just 1%, $2 trillion more would go to pay that debt increase. And of course higher interest rates affect those of us who have mortgages and loans with floating interest rates.Īnd it is not just the US that faces a grave debt problem. If they increase deficits, there will be even more total debt and interest rate cost. The World Economic Forum, which organizes the annual conference Davos, has launched an initiative called, yes, ‘the Great Reset’. This might sound like something cooked up in the lizard-stalked imagination of a nut but it refers to a real phenomenon. Governments must cover this with additional taxes, lower spending, or an increase in the deficit. James Delingpole describes it as a ‘global communist takeover plan’. That 1% rate hike will take roughly 3% more of our taxes every year. The Great Reset is my term for climactic events that resolve our global debt overload while at the same time dealing with slow economic growth, high unemployment and social unrest. The Congressional Budget Office estimates that every percentage point hike in rates will cost $1.6 trillion over the next ten years! Now, with the Fed hiking rates, interest costs are set to soar. In the most recent fiscal year, we paid $240 billion in interest on the national debt.
Interest on the national debt is the third largest component of our annual Federal budget-after social programs and military spending. In the US, according to my friend Terry Savage: As they do, so too does the cost of debt. Global debt-to-GDP is now 325%, though it varies sharply by region and country.Įven worse, interest rates are slowly rising. The average change from 2007 through 2014 was a little over $8 trillion per year. In fact, in just the first nine months of 2016, global debt rose $11 trillion. According to MSM coverage Ive read,The Great Reset conspiracy theory is that world governments planned the COVID-19 pandemic in order to then institute some. GDP fell 31.4% in the second quarter, the deepest and fastest collapse ever recorded.Source: McKinsey Global Institute Source: McKinsey Global InstituteĪfter that 2014 report and through 3Q 2016, global debt rose by $17 trillion.
More than 700,000 jobless claims were filed in a few months and U.S. Last year, when the healthcare crisis hit the U.S., the economy fell into a deep recession in a matter of days. Recently, a number of economists, financial analysts and market watchers have warned that another Great Depression is coming that will return us to an era of poverty, hunger and distress that will likely begin later this year. But the truth is, this is the scenario we should all be preparing for. And today, global events are accelerating rapidly and things are spiraling out of control at an alarming rate in the United States.įor decades, preppers had the Great Depression as a motivation and reminder to prepare for dark times even before things started going bad. Most preppers have that grim era burned into their minds as a stark reminder of how quickly things can go wrong, even in the richest country in the world. The horror stories of the Great Depression of the 1930s are about to repeat themselves.
We are inching ever closer to the mother of all economic depressions and its effects are about to cause an unprecedented amount of turbulence, chaos and despair in our modern society.