When Americans Export a 'Suicide Mission' to Other Continents
Yesterday someone sent along "Jim Rickards’ 90-Day Warning to All Americans" or "Your Money Is Already Gone". It is new. About 18 minutes in [1, 2] he reaffirmed what The Treasury had already 'declared' half a year ago: the U.S. is insolvent. He explained the core causes and how 99% of the financial media was trying to ignore or downplay this. It was always inconvenient to this media's agenda (set aside the rich media owners' shared interest).
I worry that this culture of debt-taking and overconsumption is being spread from the US to Europe. It can result in similar outcomes.
Aggressive Americans who take on debt already use up resources in the UK's High Court (at least 9 judges so far, including two chief judges and two Masters) at the expense of a European couple, the British taxpayers, and the Court (also local taxpayers, not Americans). This lawfare, funded by debt or third parties (and CFA), is putting in jeopardy the economy and also the proper functioning of the Court.
The American mindset of borrowing a lot from the future without any plans of recovering losses (or paying back the debt) is apocalyptical. █
Image source: James Rickards