NY Post Joins CNN & MSNBC With Propaganda and Fake News
I always had respect for the New York Post, but this cover has warned that this paper is no different from the rest of the fake news. First of all, [...]
World Debt Burden has Exceeded $230 Trillion
QUESTION: Mr. Armstrong; I find it interesting how you have pointed out that when it comes to public debt, the USA is actually far better than Europe or many in Asia. You also forecast that debt would begin to rise sharply from mid-2017 going into 2021. Do you have any figures to support that forecast?
NW
ANSWER: Yes of course!. The volume of global debt is rising significantly. According to the Institute of International Finance, total liabilities in the third quarter of 2017 surpassed $230 trillion (Public+Private). This is an increase of 16 trillion compared to the end of 2016. As the interest rates continue to rise, the debt servicing costs are simply going to explode. As a whole, Europe is over 100% of debt to GDP with respect to just Public Debt on average compared to the USA at about 73%. Global government public debt has exceeded $60 trillion.
This entire system is coming undone. The debt servicing is exploding as rates begin to rise. The Sovereign Debt Crisis is very much alive and well.
Latest Posts
St. Malachy’s Cyclical Prophecy
COMMENT: I remember you saying that Pope Francis would not be the last pope and that he would not last until 2032. Well, your critique of St. Malachy’ will be [...]
The German Elections Tomorrow
The German elections are tomorrow, and the polls are touting the failed government of Schultz as the winner. Germany will hold a snap national election on Sunday, February 23, after [...]
