07-24-2020, 05:49 AM
(This post was last modified: 07-24-2020, 05:51 AM by OutsiderFan.)
California's previously robust financial position was wiped out. All states and their local governments need federal government help, as do tens of millions of citizens.
What I find comical is the National Debt is now $27 Trillion - and amount that can never be paid back - and some people are concerned about adding more than another $1 Trillion when that amount isn't going to make much of a dent in the scale of problems faced.
- 50 million unemployed and/or underemployed
- Tens of millions facing eviction
- Tens of thousands of business bankruptcies
- Mortgages can't be paid
- State and local governments losing massive tax revenue
All while our money is being de-valued. If the U.S. were a business it would be in receivership. Of course so too would most countries built on the "you have to pay your debts but we don't" central banking paradigm.
What I find comical is the National Debt is now $27 Trillion - and amount that can never be paid back - and some people are concerned about adding more than another $1 Trillion when that amount isn't going to make much of a dent in the scale of problems faced.
- 50 million unemployed and/or underemployed
- Tens of millions facing eviction
- Tens of thousands of business bankruptcies
- Mortgages can't be paid
- State and local governments losing massive tax revenue
All while our money is being de-valued. If the U.S. were a business it would be in receivership. Of course so too would most countries built on the "you have to pay your debts but we don't" central banking paradigm.