The entire financial system of the western world is designed to be a
debt spiral. The total amount of money and and the total amount of debt
are supposed to continually expand. Today, we are in debt up to our
eyeballs and it seems like nearly everyone is talking about
"deleveraging" and reducing government debt. But in a world where the
entire financial system is based on debt, is there any way for massive
deleveraging to take place without plunging us all into a horrific
worldwide depression? The governments of the western world have had a
lot of fun spending money as if there was no tomorrow, but now tomorrow
has arrived and all of that debt is rapidly catching up with us. Politicians in Europe and in the United States are running around trying
to come up with a "plan", but there is no "plan" that is going to fix
the current debt-based system. Over the next few years we are going to
reap what we have sown.
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