The Latest Economic Numbers Scream Civil War and World War III…(Go To Page 2…Please Donate To RevolutionRadio!)
By Dave Hodges
TheCommonSenseShow.com
June 30th, 2017
The news headline should be, today, that Senator Dick Durbin and Bernie Sanders had direct contact with Hodgkinson prior to his assassination attempt upon the Republican congressman at the Congressional baseball team practice according to the AP. Durbin is refusing to make his email contacts with Hodgkinson public. However, as dramatic as is this information is, the real news is the economy.
Global debt levels have surged to an insurmountable level. For the only time in human history, the planet has recorded a whopping $217 trillion in the first quarter of the year. Since these are raw numbers, most will not appreciate the gravity of the world’s economic situation. The adding of $217 trillion dollars of debt in the first 90 days of 2017, represents 327% of the world’s annual economic output, otherwise known as the GDP. These figures represent the economic research of the Institute of International Finance (IIF).
The Path to Civil War
If one is a DUD (i.e. Dumb Until Death as Steve Quayle puts it), please allow me to present this very bleak picture in another light. If you make $100,000 per year, but you are acquiring debt that equals $327,000 in the same year, what will happen to your family economically? It is safe to say that your first casualty would be your house and the second would be your car. The new bankruptcy laws would prevent you from erasing your debt and you would be put on a permanent repayment plan. In other words, extreme austerity would be imposed upon you.
Let’s take that surging debt and apply it to your state, say the state of Illinois which is totally insolvent. I recently interviewed economist, Robert Kudla, about this dire situation if the $327% debt to income ratio visits your state, which it is beginning to. The state would default on its obligations and stop paying. In the meantime, under the new bankruptcy laws, a judge could order the citizens of that state, say Illinois, to be put on a payment plan. This would represent permanent serfdom because there is absolutely no hope of repaying the debt. This scenario, according to economist Robert Kudla, would represent permanent financial enslavement and could accurately be said to represent the biggest financial bailout of all the bailouts in history.
I asked Bob Kudla, with regard to his example, why would not someone just leave Illinois and go to a state that is not as debt ridden? He replied that by this time, Illinois would likely have reciprocity agreements with every other state. Let’ reduce this scenario to the lowest common denominator. When this 327% bto income ratio is fully realized, every welfare payment, pension, 401K, state-owed debt and virtually every source of income would be subject to partial or full confiscation. And the people would say “It’s time for a revolution!” Exactly, that is the point and this would be the goal of a Deep State that has nowhere to run and nowhere to hide because of its exposed criminality.
Implications for the Emerging Economies Are Devastating
In a desperate attempt by emerging economies to keep up with the Jones’, these countries have increased their borrowing by $3 trillion to $56 trillion according to the IIF. This equals a staggering 218% of their combined economic output and this debt is being added to by 5% per year, meaning that in 10 years, the economic value of these countries would have declined by 50% due to this one condition and this does not account for the great wealth destroyer, the inflation rate.
China Pushed to Hyperinflation, Will War Follow?
The biggest contributor to the world’ debt to income figure is undoubtedly China. According to the IIF, China has added $2 trillion in debt over the first quarter of 2017. The International Monetary Fund (IMF) told China to control its ballooning debt, describing it as unusually high for a developing economy. China’s debt now represents 260% of its GDP.
The Rest…HERE
