I published an article a couple of months ago announcing that the U.S. federal debt surpassed $29 Trillion. In just that brief period of time since, $1 Trillion was added and for the first time ever, US federal debt has surpassed $30 Trillion! It finally happened late on January 31.
The debt to GDP ratio isn't looking so good either. It's difficult to get an exact number. A post published at Macrotrends.net stated 98.82% but that was for the year 2015 which was seven years ago. According to Investopedia.com, the debt to GDP ratio hit a staggering 135.9% in the second half of 2020 before retreating a bit. It looks to now stand at 134%
When the debt to GDP ratio surpasses 77%, according to the World Bank, we can expect prolonged periods of economic slowdowns. In other words, recessions and downturns become more common. When the debt to GDP surpasses 100%, the risk of default (Venezuela style) becomes more likely and a financial panic may ensue.
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Alas, it's not just the USA. Venezuela's debt to GDP ratio stands at about 304% while Japan's reading stands at 254%. I read some articles and listened in on interviews regarding Chine's debt to GDP ratio and caught wind that they are beyond 'Venezuela territory', well over 300%. We'll never really know what's coming out of China but the Evergrande fiasco and their empty cities should give us some kind of signal.
Here in Canada, our federal debt has now surpassed $1.209 Trillion and the most recent debt to GDP info I could find, 117.8% is as of December, 2020. It should be clear to everyone that these national debts can never be re-payed and we are only going deeper in debt.
Protests are going on around the world with regards to Covid19 but I think we have something far worse to worry about and that's the mathematical certainty of an economic / financial collapse so monumental that once it finally comes to pass, humanity will be talking about it for the next 1,000 years, similarly to how we keep studying the collapse of the Roman Empire some 1,500 years ago.
Central bankers are not in a pretty place right now. They know the attention is about to turn on them. In fact, it's already started with such terms as 'End The FED' and 'central banking cabal'. Having put us deep in debt by design, we are enslaved by a small group of uber-wealthy bankers who've profited from wars, economic downturns and Covid19!
By shutting down our economies and putting us ever deeper into debt with their 'free money' printing presses over the last 2 years, is there any wonder why the populace is 'upset'? Inflation is close to 15%. Everything is costing more and now we have border issues because of trucker mandates (that make no sense). When will it end?
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