The US is the largest consumer of resources on earth - consumption isn't a measure of wealth - they have a 23 trillion dollar debt.
This is so going to bite us in the ass. Already, 15% of Federal tax receipts go straight to paying just interest on the debt. And we’re now running yearly deficits of over a trillion dollars. It’s madness. Yet it’s taken as normal as if it’s somehow sustainable.
And it’s only enabled because of the Petrodollar system. When that unravels, Après nous, le déluge.
It is going to be like watching a slowmotion traincrash while being in the train and knowing it is going to hurt a lot.
Slow motion at first but, Mericans being Mericans, we’ll double down on stupidity, trying to borrow more. One of these days when the Treasury tries to borrow, nobody will show up for the Treasury auction. No bids. When confidence evaporates like that, it’ll be like those chaos theory videos where the supposed stability of a pile of sand collapses because of the last grain of sand.
"confidence" is something the Americans are good at. Confidence men?
I would like to watch these. I will look for some later :)