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BA Deere
Honored Advisor

Global debt hits all time high $152 Trillion.

2 Replies
bruce MN
Advisor

This guy took longer than most....

....to get around to the sales pitch for the gold he's hawking.  Some of them have big shiny coins right at the center of the pop-up banners. 

 

When you decide to take this years crop receipts and convert them to cash and bullion let us know how that works out for you. I did notice that he alluded to "not right away", so I suppose your creditors might get a bit itchy waiting for you to capitalize on your wisdom.  But then, as he also said, interest rates are essentially nil so I'm sure they'll adjust your file to include your 20's and bars and nuggets at some marked up value, just like your manure spreader and round baler.

BA Deere
Honored Advisor

Re: This guy took longer than most....

You`re a Walking Dead fan, Bruce what good does gold coins do if you`re Rick, Carl, Glenn, Maggie and Darrel if you`re kneeling in front of Neegan who`s holding a barbwired baseball bat?

 

But you didn`t deny that the global debt is measured at $152 Trillion..okay how long did it take to build it to those levels?  I`ll bet it was mostly accumulated in the last 30yrs, really getting out of control in the last 10yrs.  Look at this country, in that amount of time our country`s national debt went from $8 to $20 Trillion and consumer privately held debt also exploded.  But when you run articles from Slate or The Atlantic on how rosey things are...they wouldn`t be so rosey looking had the world`s credit cards been cut up.

 

So it takes $150 Trillion in spending beyond everyone`s means to "have it good" in a 30yr period, can we do it again in the next 30yrs and add another $150Trillion? or will the card readers start saying "credit declined!". 

 

But as far as advertisers selling gold coins, who else is going to sponsor those articles?  I highly doubt BMW cars and Rolex watches and such, those company advertiser products were all purchased in the debtor economy.