I just don't know how to read this kind of crap without getting very angry. We don't have a level of historic wealth. All we have is a level of historic DEBT. Debt does not fucking equal wealth!!! If we had a historic level of public utility then maybe we could say we had historic wealth. For example, if there was really accessible high speed rail which was serviced by self driving taxis that would take you to and from your train then I would consider that public wealth. If we had all power lines buried throughout the country so that storms (or a fart of wind in the case of PG&E) didn't cause fires, then I would consider that public wealth. If we had great infrastructure, low cost or free automated healthcare, etc. then that would be wealth. But we have none of those things.
Instead, we have debt. We owe 23 trillion un-payable dollars to other people. So, no, that is not historic wealth of any kind. It's a historic con game.
Now, some people seem very wealthy and they are in fact wealthy, but not NEARLY so much as they think. Why? Because the way they got their current wealth was through leverage of massive debt. So if they got out of the Ponzi right now then yes they would have lots of wealth. But even then not nearly so much as people think. For example, how much is Amazon's Bezos worth? Google says 113 billion USD. But it conveniently fails to state that this is a fake number. Most of Bezos' wealth is stored in Amazon stock. If Bezoes tried to sell even 10 billion of that I bet the stock would be cut by 30% in price. That's because market cap is a fake number, a dream number that is only useful for economic dick measuring contests and financial masturbation. Remember, the Inverse VIX ETF (ticker XIV) was worth 2 billion supposedly. But one day it just went down 80% overnight. Not over the course of days but actually overnight. 80%. And then it was shut down very shortly after. The market "no bid" the ETF and it absolutely collapsed. This is the actual value of all paper "assets" in any crisis.
Amazon shares are a total Ponzi and Bezos knows it. If he tried to sell any significant amount of shares the stock would collapse and the same goes for Microsoft if Gates tried to sell billions at once as well.
So even our wealthy are not nearly as wealthy as the media touts them to be. And I really must repeat, any wealth they have was based on the taking on/assumption of $23 trillion in debt. Think about it. 50% of the people in the US are on food stamps and other public assistance, none of which is paid for by taxation of the working class and all of which is paid for by the assumption of new debt. When those people get free money, they go buy consumption items on Amazon. Over time Amazon is known for shipping trillions of dollars in goods and so the stock is deemed of value. And it is of value as long as we can continue to take on new debt in order to pay for it.
But some day, one day, that will stop. Morons who currently loan us money will realize we have no intention or capacity to repay. And when that happens the welfare stops. And when that happens, Amazon shares collapse and Amazon, which lives on precious little margin, goes BK because of the net 31 billion in debt it has on its books (74 billion debt, 43 billion cash). Unless Bezos gets out of his shares before that happens, he's going to just be a boom and bust wonderkind. But he won't get out because he can't get out without causing the share price collapse that he wants to avoid.
Without taking on exponentially increasing debt the Global Debt Ponzi will eventually collapse and we are all going to see just how NOT rich we are here in the USA. When the day comes that 10% of the population is literally starving and when another 50-60% struggles to get enough food each day, that's when we will see how not rich the USA is.
It's like we are being purposely set up. If I were an alien species trying to enslave mankind but I was enjoined from just using technological force to get my way, I could not do any better at setting humanity up for a fall than what has now taken place. I mean, let's say the aliens want something but for whatever reason they cannot force it from us. Instead they have to make us beg them for our own enslavement. Let's say there are inviolable rules of engagement and if any one of the species didn't follow the rules then the other species could lock them out of whatever resource they want from Earth. We have to do it of our own free will. Maybe it works akin to Star Trek TNG "Prime Directive" with real consequences for those who don't follow the rules. The best way to get us to willingly give up whatever it is that they want is to dance us into a position of weakness and then pull out the rug. Or more to the point, just wait until our dancing wears through the rug. When we the people begin to freefall and we see a hand out with strings attached, we will grab the hand and not care about the strings. We would all fall in worship of the aliens that save us (well most of us would).
I mean, why is it so important for the elite to send millions of low caste people into the more advanced societies on the planet? They have to realize that the carrying capacity of the nation looks bigger than it actually is because the much smaller real size of our GDP is completely masked by the fact that said GDP was pumped up using debt. Take away the debt and you take away the GDP plain and simple. Am I the only one on the planet who understands that the use of debt to run our society has TEMPORARILY increased the carrying capacity of this country? What do you think happens when liquidity finally dries up for good with skyrocketing interest rates? I ABSOLUTELY guarantee you that the carrying capacity of this country will collapse. By how much I do not know but I know that debt feeds many people and when that is no longer possible, those people will go hungry. They will literally starve in the streets. You think SFO is bad with piles of trash on the sidewalk intersperse with piles of poo and used needles and condoms? Wait until the dead bodies begin stinking.
Folks this is not doom and gloom thinking, this is engineering. This is economics. It's really not open for debate. There are already too many people in westernized countries who will have NOTHING, not even a pot to piss in when the Ponzi goes into the full on collapse phase. Government will not be able to act quickly enough to keep millions from actually starving. After hurricane Dorian, the Bahamian government was blamed for being slow to respond. Nobody cared that they had limited people, equipment and financial resources to work with and that much of the existing equipment was destroyed by the flooding and that the people had their own homestead disasters to worry about.
So there are already too many existing people who will starve, and someone's doing their level best to make sure as many new future cases of starvation get to come in.
I don't know by who, how or why but this absolutely smells like a setup to me. And what kills me is that so many are so gullible as to fall for it.
If you have any brains at all, get near food. A 3 month stock is not going to do much for you in a disaster that can last years. Don't believe it? Well it took years to rack up all that debt and now that its here it will take many years to normalize again, and that will be to a much lower than today new normal in terms of personal consumption. Without all that debt, the carrying capacity will collapse and thus so will the population.
I wonder if anyone will show up looking to make a deal to save us from this... If they do, look for the hook.
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