Economics - US record amount credit card debt, Russia to clear Soviet debt end of the year?
US consumer credit card debt balloons to all-time high
US household debt balances were $12.73 trillion in March 2017, compared to the 2008 peak of $12.68 trillion. In the first quarter of the year, more than 171 million consumers had access to credit cards backed by major banks. Credit cards in the US have never been so easy to obtain.
Source
World seeing ‘greatest monetary policy experiment in history’ - Rothschild
Low interest rates, negative yields on government debt and quantitative easing are part of the biggest financial experiment in world history, and the consequences are yet unknown, says RIT Capital Partners Chairman Lord Rothschild.
Source
In case you dont know, Rothschild family is a big time banker if not THE banker. This article was published 12 months ago. The direction of the US economic is really fucked up.
Just look at Bitcoin! it just broke 3'400 USD. Gold and silver are up as well.
Another way to think about this is the USD is going DOWN.
USA debt is spinning out of control.
Obama added $7.917 trillion, a 68% increase from the $11.657 trillion debt at the end of George W. Bush’s last budget. In what economic world is this normal?
US National debt is around $19,971,000,000,000 at the time.
Compare this to the Russian debt of only $158,127,000,000.
Thats two (2) zeros less. That is only a 0.8% of US debt!
Really.. Just think about it, only 0.8%. Source
Russia to clear entire Soviet debt by year-end?
Moscow will pay off the balance of the debt inherited from the Soviet Union this year, Izvestia daily reports, quoting sources in the Russian Ministry of Finance. Source
And not just that, Russia just became the top crude oil producer in the world, overtaking Saudi Arabia.Source
The US has lost 1/3 of their crops this year due to freak (cold) weather. Europe is also feeling the weather.
Cause and consequence? Russian vegetable exports up. Source
War - The economic reset button?
So by the look of things, US is a sinking ship and is very very aggressive at the moment. Now that the Dollar is collapsing, its only real export and activity is to start yet another senseless war. The Dollar is self-destructing...
History is repeating itself: First comes currency wars, followed by trade wars and ending with shooting wars.
Nobody wins in wars. Expect the politics and the banks.
wow, very detailed informative post ;) I hope you will continue this way
Thanks for the feedback. Will do!
Very good exposure. For those of us who follow from Europe and have a certain perspective we have been observing the change in the trend of world power. As for Russia, even if the media tries to prove everything they do. They have been reducing debt for years, which we can not say either from the European Union or the USA. As for the crops, Russia is going to go through serious problems like the Eastern European area in the following years. As all empires when they reach these levels of debt and public spending are at serious risk. We will see in what new mess it brings into the world the armed wing of the Federal Reserve to cover the economic disaster that many already see just around the corner.
The current crop lost is due to sudden cold spikes, its been happening for few years now. Few countries are dealing with this, including Russia. Picture from @adapt2030.
Yes, exactly. The different scientific studies that I present in my blog The little ice age go along the same line as that YouTube channel. He is doing a great job exposing a lot of climate data that does not appear in the media.
Good collection of sourced snippets. Not sure if any of this (in the US) can be reversed at this point... Too many corrupt hands in the public's cookie jar. Check out our "prepping" topic to keep up with other like-minded Steemians who believe it's better to be prepared than be surprised when the time's up.
Thanks! I'm trying to keep it short and sweet. I'll be doing more of these in the future.
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