Below is a documentary that does a great job of putting America’s debt in perspective.  The debt of the United States is unsustainable.  Our country is already bankrupt.  And furthermore, there is no realistic way for us to pay off all of this debt.  Therefore, the producers of this video believe that the only way for us to meet our debt obligations is to create large amounts of inflation.  The only way to save our currency from massive devaluation is for the Federal Reserve to raise interest rates dramatically.  But, our country is completely dependent on credit to survive, since 70% of our GDP is comprised of consumer spending.  Much of this consumer spending is enabled by our ability to borrow large sums of money at low interest rates.  If interest rates rise significantly it will bring our debt-based economy to a grinding halt.  But, if they don’t rise, our standard of living will be greatly reduced through increasing inflation.  This is just one reason why we need a completely different economic system.

Filed under: Midwest • Nation • Nebraska • World

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