To understand why the financial dominoes toppled by the Covid-19 pandemic lead to global insolvency, let’s start with a household example. The point of this exercise is to distinguish between the market value of assets and net worth, which is wha…
Budget deficit over $1 trillion in 2019 calendar year
Companies borrowing money to create illusion of profitability
Global debt reportedly up $100 trillion since 2008 financial crisis
Total consumer debt outstanding now stands at a record $4.165 trillion
Americans have record debt with low savings
Expert blames government programs
Crisis pushing American consumer debt to new record
People have less money in their short-term savings compared to last year
Loans burying taxpayers, stealing from future generations
Americans continue spending money they don’t have
Warns of bubble economy
Bad monetary policy fueling inflation
Federal Budget Deficit Biggest in Seven Years
Companies that gorged on cheap credit in danger