Econimica: US Debt To GDP Will Hit New All-Time High In 2020
Summary
Coronavirus is no plague or Spanish-flu, but we aren't who we once were either. So the end result may be the same?!?
The young (representing the future) cannot cover the rapidly growing debt...and the policies to avoid dealing with the debt are ultimately destroying future economic activity.
The US is going bankrupt in half measures but double time. Global depression is now unavoidable and imminent.
Some thoughts on Coronavirus...
1- The Coronavirus ain't no black plague or Spanish-flu. Those were true killers that wiped out young and old without regard for the strength or age of the afflicted. In fact, Spanish-flu was attracted to the young adults above all else.
2- However, Coronavirus has come along when the 1st world is at its most vulnerable. Never have more elderly been artificially kept alive beyond their natural expiration dates by drugs and our 1st world medical system promoting quantity over quality. Never has the 1st world been more obese and suffered from more "lifestyle" diseases than now. Hypertension, Type-2 diabetes, heart disease, smoking / vaping lung related issues, drug abuse, etc. The 1st world has the best medicine in world history but capacity is limited and the vulnerable hordes will overwhelm our hospitals. BTW - one of the most vulnerable of populations are the truckers responsible for maintaining transportation...this weak link should be very worrisome.
Read more ....
WNU Editor: The U.S. is not going to go bankrupt as the above author believes that it will. What will happen is inflation, higher taxes, and interest rates that have not been seen since the early 1980s. Bottom line. This burden is going to be put on the shoulders on those below the age of 50, and they are going to pay a terrible price to pay this debt off to a manageable level. And the U.S. is not alone. Most countries are in a far worst situation .... List of countries by public debt (Wikipedia). On a side note. Russia is one of the best placed to financially weather this storm with one of the lowest debt-to-GDP ratios in the world.
