Jump to content
The World News Media

A Bigger Crisis Is On The Horizon, And It Will Last For Decades


admin
 Share

Recommended Posts

 

As the news talks about enforcing mandatory lockdowns, and handing out money to citizens… There has been a problem that has been rapidly expanding in the background of all of this news. …

And It is a problem that the world has never really seen before. In fact… it might create a crisis that won’t just be felt in the next week, the next month, or even the next year... but it might be felt for several decades to come…

During World War 2, Britain was in the thick of war against the axis powers. However, Britain ran into a roadblock…they were quickly running out of money. So, they began looking to borrow money from both their own future taxpayers, as well as the United States & Canada. In 1941 Britain began accepting loans and taking on debt to fund the war… and by 1945 Britain had taken on nearly $10 Billion dollars worth of debt from its creditors. At this point in time, Britains debt to GDP ratio was a whopping 200% meaning that the country had twice as much debt, as its entire market value of all its goods and services it produces over an entire year. And just some perspective for you, is that the World Bank states that once a country reaches above 77% debt to GDP ratio, its economy will begin to slow down from such a large portion of its revenue going towards paying down its debt. Anyways, after the war ended, Britain had amassed a debt that was so large, that they couldn’t pay it back in 1 year, 5 years, 10 years, or even 20 years.

On December 29, 2006, Britain made its last repayment on its World War 2 debt to The United States and Canada. This means that British taxpayers from 1945, up until 2006 had a small portion of their tax bill every year, go towards the Debt that the country accumulated in the 1940’s. And for about a decade after the war, Britains economy was drastically hindered, in part due to their outstanding debt that they incurred. However, their economy eventually recovered thanks to an influx of taxpayers, called the baby boomers, as well as some economic reforms and infrastructure investments. But a lot of the times when a country accrues as much debt as britain did, they are not so lucky.

In 2001 Argentina’s debt to GDP ratio reached a high of 166%, which caused the country to default on over $100 Billion dollars worth of debt. This default made capital move out of the country, and soon the nation saw millions of people enter poverty while unemployment reached a high of 19%. And to this day, Argentina hasn’t fully recovered from its debt crisis that it went through nearly 20 years ago. And similar stories can be said for Greece in 2012, Zimbabwe in 2006, Venezuala in 2017, and Russia in 1998. The point I am trying to make here is that even though debt can be a good thing to take on… in order to solve today’s serious problems…it will almost always have serious long-term consequences that could last for years or even decades.

So now, lets bring this back to the United States. So whether you know it or not, America essentially runs on debt. Historically, America’s economy has been so big, and has grown so fast, that taking out tens of billions of debt here or there hasn’t really been much of a big deal because it was such a small percentage of the countries overall Economy. For example In 2006, The United States had a relatively healthy Debt to GDP ratio of about 60%. But then…the financial crisis hit. During the financial crisis, the United states began scrambling for ways to pump money back into the economy… so it began taking out hundreds of billions of dollars worth of debt. And some people might think that The United States, along with every other country that took out debt to get through the financial crisis, has paid off some of their debt since 2008. But actually, the opposite of that is true.

You see, since the financial crisis, many developed countries throughout the world have been accruing more and more debt every year, while economic growth has slowed. This means that many countries may actually find it more difficult to pay off their debt now, than they did during the financial crisis.
 

Link to comment
Share on other sites


  • Views 457
  • Replies 1
  • Created
  • Last Reply

Top Posters In This Topic

Popular Days

Top Posters In This Topic

Popular Posts

As the news talks about enforcing mandatory lockdowns, and handing out money to citizens… There has been a problem that has been rapidly expanding in the background of all of this news. … And It

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share





  • Recently Browsing

    • No registered users viewing this page.
  • Popular Contributors

  • Topics

  • Posts

  • Members

  • Recent Status Updates

    • The Librarian  »  Chioke Lin

      Feel free @Chioke Lin to make your own posts on any topic you like.
      If you don't want someone in particular to comment on said post just please ask me to delete that comment from that thread and I will eventually see it.
      · 1 reply
    • Pudgy  »  Anna

      I had quit the JW Open Club, so as not to be a cause for dissension …. which if I am not careful I can take over a conversation … as TTH ALLUDED to that, and he was correct.
      Under the circumstances, I feel if I do not comment, it would solve at least 3 points of concern.
      I have been thinking about this for several days and decided it would be appropriate to “belong” if I only commented if asked a question, etc.,and not post cartoons.
      Basically, the same rules at the Kingdom Hall, except I will be courteous to anyone that is courteous to me, except that for d’fd people, not to discuss any theocratic issue or “what’s going on”, etc., realizing it is a double edged sword that should cut both ways.
      With all that in mind, I again request approval to join the closed club mainly as an observer.
      The open club has evolved into a bat cave of crazy people.
      Pudgy
       
      · 2 replies
    • Mic Drop

      This Bitcoin and Crypto stuff is really starting to take off like wildfire
      · 0 replies
    • Arauna  »  Thinking

      Hi, it seems we are the only two left talking about it as the rest have lost interest.  PITY, because they will soon see what is coming. I have always had a good imagination for understanding injustice. ..I watched the video about the injustice you put up.... very sad. We understand those things.....the other video is just a parody, of snippets of a very nasty person.... I do not know who she is but she was standing  next to the health minister.....
      I am not well, so I may not make it thru this system..... and I am happy to say maybe it is a  good thing.... I want to praise jehovah until I die ...but the opportunities are getting less.... and who wants to see people suffer?  If I were still around I would be severely stressed by it.  
      My father always said " know all, blow all" when people think they know it all.  And I have seen some pretty opinionated people on here. Mostly people who have had very little suffering and had authority in congregations.   
      I encourage you to stay strong dear sister and please devote more time to worship Jehovah in love. I also want to cut my time on internet ........ I spend time trying to find hidden  news about new developments in UN etc.  Soon all news about what is really  going on will not be available..... just mandates from governments and propaganda from the governments. People will be liquidated and we will not be able to get news about it. 
      Just stay strong. I am glad you spoke out about Australia.... I have a friend there who is too afraid to talk on internet.  They have already built  Covid "camps" in USA and Australia.... the  ĺorcing all "faith in god" out of everyone..  only worship of the state will be allowed. .... to compromise as many as he can.
      Strengthen yourself. No one can do it for you. 
      · 0 replies
    • Toni  »  T.B. (Twyla)

      Thank you so much for the spiritual food!!!
      Agape
      Toni
      · 0 replies
  • Forum Statistics

    • Total Topics
      64.4k
    • Total Posts
      142.6k
  • Member Statistics

    • Total Members
      17,290
    • Most Online
      1,592

    Newest Member
    mickche
    Joined
×
×
  • Create New...

Important Information

Terms of Service Confirmation Terms of Use Privacy Policy Guidelines We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.