The corruptocrats’ ability to shore up the debt-riddled global financial and economic systems with ever more debt has astounded skeptics, among them SLL. The debt load is many times annual global production and debt service is sucking up that production like a tapeworm sucks up its victim’s meals. Every financial asset is a debt or equity claim, and virtually every income stream and real asset—factories, real estate, houses, warehouses, inventories, office buildings, malls, etc.—has been pledged or mortgaged, often several times over.
We saw the global daisy chain unravel in 2008 and 2009 and the system is daisy-chainier now. If you’re looking for canaries in the coal mine, watch the yields on sovereign debt. Once they really start to climb it’s game over. The devastation will be unprecedented and epic.
Collapse will decimate over-indebted, non-productive governments that have made promises they can’t keep to millions of their citizens. That may be part of a plan to destroy national governments and generate clamor for totalitarian global government. Yet, every tyranny confronts the question: who is going to host its predation and parasitism if the disobedient but productive (there is a correlation) have been imprisoned or executed? Slavery is notoriously unproductive.
Globo-government will be in the same position as the national governments it supersedes—bankrupt, bereft of resources, and unable to produce anything other than fiat debt instruments. Dispensing a steadily depreciating universal basic income will be problematic. Not that it will bother globo-government if billions of its wards die of poverty and starvation. The bigger concern will be securing the resources necessary for surveillance and suppression of the remaining enslaved.
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