The Atlantis Report
Sep 18, 2021
The system is close to imploding. The printing presses and the FED’s m----------n will come to an end sooner than later. Our economy is based on debt, it is impossible to pay back the debt, or our currency would be gone. That’s the essence of the Ponzi scheme. On Friday, with some segments of the bond market starting to grow increasingly nervous about the outcome of the debt ceiling debate – whose “drop-d--d date” is expected to fall sometime between late October and early November. This particular upcoming drama could proceed in the weeks and months ahead.
The Central Banks are now fully exposed. Just look at the leaders in the march higher, and you will see the ones who plundered the system. The US economy is not fragile. It’s actually rotten. And the rot is centered in the White House and FED. This is the most blatantly openly manipulated market in history. We cannot compare 2007 to today. Back then, we had much smaller trade deficits and still had a manufacturing capacity. Oh, and the Fed wasn’t printing $120 billion a month to prop up the markets back then either.
What a disgusting, bankrupt, debt-ridden country we have become. An oligarchy with limitless Fed Bank money printing to help the rich get richer. Almost $30 TRILLION in debt, and Congress wants to add more. They laugh about there is no possibility to ever pay it off. The fools tout having the world’s reserve currency and printing to infinity as the solution. Inflation is soaring, and tent cities are everywhere now. Our GREED did us in. Millions are living beyond their means and buried in debt. Helicopter money and no need to work anymore. Welfare and warfare on a scale never before imagined.
The huge housing bubble will burst soon, and it will take everything with it. Stock markets will plunge as sellers head for the exits. The Fed will go to NIRP and announce more QE, but after a small pop, even more, sellers will return. We are toast – prepare accordingly. Hyperinflation is coming. If you don’t have a reliable food source, you are already in trouble. The economy may be expanding, but if your wallet is as thin as it was last year, it doesn’t feel like the economy is expanding.
The U.S government debt currently stands at $29 trillion. If we divide this by the total population of America, then we get $86293! This is the burden of national debt that each American has to bear, and it will keep on increasing because America has an ever-increasing debt. In order to understand the American debt problem, we need to look at the history of debt in America. Complexity doesn’t make the national debt an irrelevant issue, and the scope of America’s borrowing does matter a great deal.
The US Federal debt has climbed from $17 trillion to almost $29 trillion today. It is growing at a rate of over $1 trillion per year.
Now that we have seen how the Debt has come to this dangerously high level let us look at the reason. So far, we have had only a cursory glance. What really happens is that tax revenue is one of the key sources of raising income for expenditure for any government, and when you give a tax cut, you are basically reducing your tax revenue. When you reduce the tax revenue, you reduce the money available to spend on public expenditure.
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Can you see the flaw in the system now? The corporations and the super-rich, who got a tax cut by the government, ended up giving a loan to the US government, and now the US government owes them not only the loan but also interest on that loan! According to government estimates, the total cost of tax cuts alone is $1.6 trillion! This means the government needs to raise an equivalent amount of debt to finance public sector spending.
Therefore, as a result of overspending, tax cuts to aid the super-rich, the US economy now stands at a huge debt of $29 trillion, which will continue to rise. The people of the US, who are the taxpayers, need to understand this before they go to vote the next time. Our national debt is already dangerously high, and so far, no government or candidate has given a workable solution for the debt problem.
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