Part 9/15:
Economic Instability and the Debt Crisis
The core economic concern revolves around America’s unsustainable budget, with spending vastly exceeding revenue. The analyst believes that defaulting on debt is inevitable—an outcome that is simply a matter of when, not if. Paradoxically, he suggests that increasing debt even further might be the pragmatic choice, considering that repayment is impossible.
He references Peter Turchin’s predictions, which point to recurring civilizational crises every 250 years driven by inequality, wage stagnation, and elite overproduction. The current socio-economic environment bears many hallmarks of impending upheaval, with poverty, declining birth rates, and urban decay contributing to instability.