The Federal Reserve creates more dollars each day chasing the same amount of goods, so it takes more dollars to buy them. Manufacturers, instead of showing the rising price, choose to reduce the quantity or quality of their goods, and most people thereby are not aware of how severe inflation actually is.
Georgia Democrat, Stacey Abrams, a former state representative, acknowledged that she owes more than $200,000 in personal loans, credit card debt, and IRS back taxes. She even admits that she did not understand that credit cards incur interest. In spite of this, she has gained strong popular within influential Democrat circles.
US: Republican-In-Name-Only (RINOs) have sold out their constituents once again as they prepare to pass the enormously bloated $1.3 trillion, 2,232-page omnibus budget that they have not even read. It is loaded with hand-outs by big spenders – Republicans and Democrats alike. Politics as usual while the nation staggers under the increasing load.
Stefan Molyneux explains how the US government’s addiction to spending now can only be stopped through collapse followed by war. This is a brilliant overview of history and human nature as they relate to the economic collapse of unrestrained governments. There is no way to adequately summarize this presentation except to say that it is loaded with hard data and sound logic that leads to the conclusion that the world is headed inexorably into economic collapse and war. Molyneux’s analysis may be wrong, but it should not be dismissed as impossible. [Well worth watching in its entirety.]
50% of Canadians are living within $200 per month of not being able to pay their bills. That means any unexpected bills or loss of income of $200 per month could wipe them out financially. 31% of Canadian polled said they already don’t make enough to meet their debt obligations. Citizens of most other countries are in the same situation.