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Financial Leaders: The Deficit And National Debt Will Usher In Economic Crisis

Mac Slavo
July 19th, 2018
SHTFplan.com
Comments (24)
Read by 3,191 people

Some financial leaders are finally speaking out about the dire situation the United States economy has found itself in.  If you watch the news, however, you’d have no idea you’re on board a sinking ship thanks to the government’s massive debt and unrealistic deficits.

Former chairman of the Federal Reserve, Ben Bernanke, has even begun to sound the alarm on the government’s spending problem. At a recent round-table discussion with reporters at the Brookings Institution, Bernanke, former Treasury Secretaries Henry Paulson, and Timothy Geithner all expressed concerns that the next economic crisis will come with policymakers being unable to do anything about it.

Rational thinkers understand that the S is about to HTF when Bernanke shows concerns over government spending and major deficits. The former Fed chair “criticized the deficit-ballooning tax cuts and spending increases agreed to by President Donald Trump and Congress as ill-timed,” Bloomberg’s Rich Miller reported. “Bernanke noted that [the deficits] come as the country is at or near full employment. He also voiced concern about the longer-term consequences of rapidly rising government debt.”  It’s long been touted by even more conservative economists that the government should have cut spending in accordance with cutting taxes.

Geithner then warned that deficits incurred during the Obama administration and into Trump’s tenure have been responsible for our next crisis. “I think the deficit fever of ’09 through ’13 was mistimed,” the former Treasury secretary said, according to USA Today. But Geithner didn’t say the government shouldn’t have stopped their spending spree, he simply noted that the high deficits served to reduce stimulus spending (bailouts of big companies) that might have helped speed the recovery. “I say the new complacency about the larger deficits is mistimed, too.”

Paulson, who was the Treasury secretary under President George W. Bush also took an ominous tone regarding the national debt. “If we don’t act, that is the most certain fiscal or economic crisis we will have. It will slowly strangle us.” Paulson also said that now, when the economy is growing, is the best time to address “some of the persistent structural issues that are going to determine our long-term economic competitiveness.” Those issues, he said, include the deficit, immigration, income disparities, and what automation and globalization are doing to American wages.

It comes as a bit of a surprise the infamous Keneysian economist Bernanke would express concerns over the government’s inability to decrease spending.  But now that he has, will Americans heed the warning and protect themselves against the next financial crisis?

According to Financial Times, it is becoming clear that the global monetary policy is now caught in a debt trap of its own making. Continuing on the current monetary path is ineffective and increasingly dangerous. But any reversal also involves great risks. It stands to reason that the odds of another crisis blowing up continue to rise. –Ready Nutrition

“If we have learned one thing studying the history of disasters, it is this: those who are prepared have a better chance at survival than those who are not.” -Tess Pennington, author of The Prepper’s Blueprint

 

 

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Author: Mac Slavo
Views: Read by 3,191 people
Date: July 19th, 2018
Website: www.SHTFplan.com

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24 Comments...

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  1. Kevin2 says:

    As long as the USD / Reserve Currency racket is maintained, especially the oil peg component, this can continue virtually indefinitely.

    • Eisenkreutz says:

      https://www.campusreform.org/?ID=11139

      LAW STUDENT ACCUSED OF HAVING A NORMAL SEX DRIVE AND SENTENCED BY A KANGAROO COURT TO WRITE A PAPER ABOUT HOW MASCULINITY IS A MENTAL HEALTH ISSUE

      SERIOUSLY, WE NEED A NEW ETHNOSTATE WHERE WOMEN HAVE NO RIGHT TO VOTE.

    • durangokidd says:

      ““Bernanke noted that [the deficits] come as the country is at or near full employment.”

      Full employment as defined by whom ??? Almost 100 million Americans are not in the workforce, and the NWO (BERNANKE INCLUDED) does not count the unemployed as unemployed once unemployment benefits have run out. There is a large reserve of Americans citizens on the sidelines waiting for a good paying job.

      With respect to the deficits, TRUMP is working hard to change that. He is looking to cut our balance of trade with China ($400 billion) in half. He is attempting to roll back trade deficits with the EU $160 Billion; and Canada $25 billion.

      Mexico is an especially grievous situation created by the NWO. First there is the cost of ILLEGALS ($500 billion a year) a $125 billion trade deficit to Mexico’s advantage, and then there is $25 billion a year that is wire transferred to Mexico every year from these ILLEGALS which will never return to the USA. Of course THAT doesn’t include the drug profits made here and smuggled into Mexico.

      Add up $500 Billion, $125 Billion, $25 Billion, $160 Billion, and $400 Billion for a total of $1.21 TRILLION and you can see why the US has a $1.3 TRILLION budget deficit every year.

      Fake News like to push the propaganda that Americans are living beyond their means, and should cut back on their lifestyle to make US a Third World Country, but simple math shows that this is not true !!!

      On the contrary it shows that America is going broke with Institutionalized Socialism for the NWO !!! Death to the NWO. It’s totally Constitutional because Globalism is TREASON !!! 🙂

      • Hauptmann says:

        Every point made is right on target. Shadow Stats’ John Williams can defend a 20+% unemployment rate in the US, just for starters. Mac Slavo is definitely out of touch. Next, I expect an article from him about the wonders of America’s energy independence. Not.

        • durangokidd says:

          Actually, under TRUMP, America is moving toward energy independence as he has unleashed the American Oil & Gas sector; held captive by the NWO who moved to limit America in every way with excessive regulation.

          America is currently EXPORTING oil & gas for the first time in decades and the US is slated to be the top producer in a few short years. The USA, like the world, is awash in oil & gas, and new technology is unleashing Americas shale oil for $28 pb. Other energy advancements are just around the corner.

          Just TRUMP MAGA !!! 🙂

  2. When the kiddies misbehave, bankers take away our allowance. And if we are very, very good, the bankers still take our allowance.

    _ The bankers want war with Iran. Not because Iran did anything, but because war is profitable. The bankers might collapse the economy and then use that as the excuse for war. Who wants to die for the banks? Give up a leg? How about the left side of your brain?

    _

    • Kevin2 says:

      B from CA

      The end goal of the banisters / USA / globalists is to being Islamic Fundamentalist Extremism into Russia destroying them internally. Iran, despite main stream media oratory to the contrary is not the nexus of terrorism; thats reserved for Saudi Arabia and the USA.

    • TharSheBlows says:

      Bernanke should be hung by his toenails and beaten like a Mexican Pinata’. A shill in on the Bankster Bailout scam Theft.

  3. aljamo says:

    The bankers have killed tens of millions of innocent people around the world, it’s what they do. They have long owned everything and everyone of importance, quite possibly even the air we breathe if they could put a meter on it. The future is the past.

  4. lena says:

    you notice that all of these guys helped created the problem and/or added to it and are now out with no responsibility.

    when the economic shtf does come, some guys that enabled it will be held accountable by a bullet or noose once enough people have had enough, unfortunately it has to get much worse to get some cleansing of the creators.

  5. The Deplorable Braveheart says:

    Lena, that’s right. The banksters’ time is coming and it’s not going to be nice.

    • Kevin2 says:

      The Deplorable Braveheart

      “The banksters’ time is coming and it’s not going to be nice.”

      They been around since the advent of money. I’m not as optimistic as you. They not only determine the value of money but what is and isn’t money. By decree (with the veneer of legal protocol of course) they state that gold cannot be used for payment. Oh the farmer might take some for a steer or chicken but he can’t make it liquid to pay his bills. The rural gas station owner might take it for a tank here and there but he can’t buy the next shipment with it. Banksters buy governments with army’s included.

    • Paranoid says:

      Wasn’t there an English King that Castrated all the Bankers? Seems like a start/

      • TharSheBlows says:

        I would say 30% of the US Annual Budget is Fraud, Waste and Abuse. The Pentagon cannot account for 25% of their annual budget. If you or I ran a business like that we’d be out of business soon. Not the Government, $700 Billion a year for a failed foreign policy.

  6. Belly Up says:

    If there are so many “financial leaders and experts”; why don’t they nip the crisis in the bud.

    Fact is, when it gets to the nut-cutting, no one knows anything about the future with any degree of certainty what-so-ever…..

  7. aljamo says:

    Listening to Jim Willie on YouTube talking about China buying up all kinds of property in the US, building a soccer stadium in Costa Rica using all Chinese workers and plans to bring Chinese workers into the US to run their holdings. Another show titled The Economic Endgame has Arrived claims foreign nations no longer want to trade their imports for US treasury bonds. The Euro nations want to join the BRIC nations with a gold backed currency. Also that the US banks are a complete fraud. A coming more than doubling of the gold price and tripling of the silver price. Sounds like a sold out US about to hit the fan. Anybody put any credence in what this guy says?

  8. Archivist says:

    When Bernanke and others start warning, it’s too late to do anything about it. They just want to cover their ass for later.

  9. TharSheBlows says:

    Audit the Fed, declare it Fraud against America, then shut them down and jail their employees for Treason and Theft. Write off all the Debt as Fraud and zero out the balance sheet, then dissolve the Fed, then discard them into the wind.

  10. TharSheBlows says:

    Audit the Fed, declare it Fraud against America, then shut them down and jail their employees for Treason and Theft. Write off all the Debt as Fraud and zero out the balance sheet, then dissolve the Fed, then discard them into the wind.

    • Paranoid says:

      One mans debt is anothers asset. Wipe out all the debt and every State, Local Gov, pension plan, Insurance Co , Bank. S&L in the country is bankrupt. Then comes every person that has money in said Banks etc.

  11. Maranatha says:

    The ONLY solution is debt forgiveness for everyone. Otherwise it is inevitable with declining birth rates and longer longevity and very high medical bills…that the system will collapse.

  12. Maranatha says:

    The national debt incured by the Federal Reserve buying government securities is a FRAUD. They do not pay a dime but collect payment on what they never bought.
    https://www.youtube.com/watch?v=iFDe5kUUyT0
    And the banks ar loaning money they do not possess and driving up the price of securities.

  13. When I initially commented I appear to have clicked the -Notify me when new comments are
    added- checkbox and now whenever a comment is added I recieve four emails with
    the exact same comment. Is there a means you are able
    to remove me from that service? Appreciate it!

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