Looming worldwide financial bubble


There is a huge problem looming in the financial world, and the big question is, does Trump have the power to change the course that has been leading to a financial meltdown? The details are the US has been running a massive debt, printing more money in the last eight years than the thirty years previous.
The US Government closed out the past fiscal year on September 30, by adding $1,422,827,047,452.46 (1.4 Trillion) to the negative balance. The new total is now $19,573,444,713,936.79, (19.5 Trillion). The debt is growing so fast, that many wonders if it is stoppable.  The International Monetary Fund warned that global debt had hit an all-time high of $152 TRILLION. That figure is near TWICE the size of the total world economy. By comparison, the Marshall Plan, which completely rebuilt Western Europe after World War II, cost $12 billion back in 1948, or roughly 4.3% of US GDP at the time. The initial appropriation for the WPA, perhaps the largest of Roosevelt’s New Deal “make work” programs that employed millions of people, cost 6.7% of US GDP. And, more recently, the US $700 billion bank bailout at the beginning of the 2008 financial crisis was the equivalent of 4.8% of GDP. So basically, these people managed to increase the national debt by a bigger percentage than the cost of the New Deal, Marshall Plan, and 2008 bank bailout. What exactly did the American citizens get for that money? Did they spend $1.4 trillion on achieving world peace, eradicating poverty, saving the planet, or some other dream? Did they finally fix America’s crumbling infrastructure that has been in desperate need of repair? Did they send a gigantic tax refund check to every man, woman, and child in the country? Actually, the answer is (D), none of the above. They squandered it all. Their only option now is to follow Japan and lower the interest to zero and below, which in effect is a tax on the citizens and just kicks the can down the road a little longer. However, everyone knows from his or her personal family budgets; one cannot keep adding debt, sooner than later, you go bust. The FED has used all its backup resources to purchase bonds and does not have any more tools in its toolbox to fix the next crisis. They are also broke. Yes, the largest private bank on the planet, The United States Federal Reserve is also broke. Many will be shocked to read that the FED is a private bank and not owned by the US Government, is not controlled by the US Government, and only reports to Congress what they intend to do, as they print money, establish interest rates, and loan big banks and the Government more money that they create out of thin air. Click on the next paragraph for some fun graphics,

For the last fiscal year 2017, the US Government paid $162,465,069,877.40 in interest. That is 162 Billion dollars. This money could-could buy 5,400,000 cars at $30,000/each or 810,000 houses at $200,000/each. If a person could put 10,000 dollars into savings each DAY it would only take 44,384 years to save 162 billion.

The big question for the Trump Presidency is can he stop the runaway debt, and balance the budget soon enough to stop a meltdown?

The EU central bank is now also buying bonds, just like the FED, and is starting down the road of increased debt.

So why does Putin welcome a Trump Presidency?
Because Russia is also in economic trouble, even though their debt to GDP ratio is low if the reports from the Kremlin can be believed. While Putin would have the nerve to attack and fully invade Ukraine, he doesn’t have the resources. He is now pulling out of Syria for the same reasons. Russia needs the help of the US to fight ISIS, and he will negotiate with Trump to end the war in Ukraine so better relations on a global scale can be worked out. Under the Obama, Clinton regime, Russian and Turkey are at odds with US foreign policy. Turkey is aligning with Russia after being bitter enemies, and the US has not been at the negotiating table. That just came to an end with the Trump presidency.
No, Putin and Trump are not friends, nor have they made any secret deals, they haven’t met at all. Trump has stated that he hopes he will get along with Putin but doesn’t promise that he will.

    2017-03-10 08:51:04 by B
    It's the The Creature from Jekyll Island! (G. Edward Griffin) I recommend your readers watch Century of Enslavement: The History of The Federal Reserve https://www.corbettreport.com/federalreserve/
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    Stay tuned for an upcoming article on the Federal Reserve, not to rehash old stuff already out there, but to put it into a context of today's looming financial problems. Questions, now Trump is President, all of a sudden interest rates need to be raised?
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