@sataniccapitalist / sataniccapitalist.tumblr.com
“What do riots in Kenya, Liz Truss, a renewed currency crisis in Brazil and growing market jitters over the outcome of French parliamentary elections this weekend all have in common?
“Answer: they are all early tremors of the all-encompassing fiscal earthquake to come… Virtually the world over, public debt is completely out of control.”
"The American government’s big pile of IOUs is about to get even bigger.
That was the conclusion of the latest report from the Congressional Budget Office, which forecast this week that the US is on track to add $19 trillion to its national debt by 2034, with payments on that debt totalling some $12 trillion as higher interest rates increase the burden of the nation’s borrowing.
Serious interest
In the latest fiscal year, which ran to the end of September, the federal government raked in more than $4.4 trillion in receipts from individual taxpayers, with nearly half of that sum stemming from individual income taxes ($2.18 trillion). But, as many of us can surely relate to, the government's spending appetite consistently outpaces its income, resulting in a deficit of $1.7 trillion.
The magnitude of the national debt, currently ~$34 trillion in total, means that the government is shelling out nearly $2 billion a day on interest payments (~3% of GDP) just to service the debt. Were the government to somehow magically wipe out its debt — leaving it with no interest to pay — it would have saved a whopping ~$660 billion last year, though that still wouldn't be enough to get the overall federal budget back into the black.
The CBO forecasts have sparked a national conversation about the right level of federal spending, raising questions that beg political answers, rather than definitive economic ones."
"We can't abolish capitalism or cops or mandatory labour economies or or or" these are all frameworks we once lived without and we can achieve as such once more! These aren't properties of physics, they are constructed to rule and bind us.
“Students who acquire large debts putting themselves through school are unlikely to think about changing society. When you trap people in a system of debt, they can’t afford the time to think. Tuition fee increases are a “disciplinary technique,” and, by the time students graduate, they are not only loaded with debt, but have also internalized the “disciplinarian culture.” This makes them efficient components of the consumer economy.” ~Noam Chomsky
The rich are getting more rich tho
his name was Josh Wilkerson and it’s important to point out that he died while taking Reli-On, the common “Walmart Insulin” you see people constantly pushing as a cheaper alternative.
so if you ever see people suggesting this, or god forbid you feel like doing it yourself, i want you to look up this story and remember Josh Wilkerson, and realize that the solution HAS to be bigger and more systemic than that
Health care is a right not a commodity
Holy shit watch this
Mortgage crash coming — here’s why! (Full show)
Rick Sanchez discusses the unprecedented and rising level of household debt in the US. He points out that measures to mitigate the effects of debt and unemployment are only temporary solutions and that another economic crash may be inevitable. Then "Boom Bust" co-host Ben Swann and John Grace of Investor's Advantage Corp share their insights. RT America's Faran Fronczak reports on continuing demonstrations outside the White House. The UK's Prince Andrew has been uncooperative with the investigation into the crimes of infamous pedophile Jeffrey Epstein, according to US prosecutors. Prince Andrew's attorneys deny the allegation. RT America's John Huddy reports. Then legal and media analyst Lionel of Lionel Media joins Rick Sanchez to share his expertise.
