US Financial Collapse Coming

We have no idea if America’s debt-fest is going to continue for years to come or if it’s all going to collapse soon.  What we do know is that financial bubbles usually pop when people are saying “good times are here forever!”

America is broken.  People want to point at Dems or GOP as the reason for decline, but Bible readers know it’s broken because we have shunned God and rejected His Word and His Son.  And we see that situation getting worse as time passes.

Here:  https://www.zerohedge.com/news/2018-07-01/chris-hedges-coming-collapse?gdpr_consent=&gdpr=false

All this will soon be compounded by financial collapse. Wall Street banks have been handed $16 trillion in bailouts and other subsidies by the Federal Reserve and Congress at nearly zero percent interest since the 2008 financial collapse. They have used this money, as well as the money saved through the huge tax cuts imposed last year, to buy back their own stock, raising the compensation and bonuses of their managers and thrusting the society deeper into untenable debt peonage. Sheldon Adelson’s casino operations alone got a $670 million tax break under the 2017 legislation. The ratio of CEO to worker pay now averages 339 to 1, with the highest gap approaching 5,000 to 1. This circular use of money to make and hoard money is what Karl Marx called “fictitious capital.” The steady increase in public debt, corporate debt, credit card debt and student loan debt will ultimately lead, as Nomi Prins writes, to “a tipping point—when money coming in to furnish that debt, or available to borrow, simply won’t cover the interest payments. Then debt bubbles will pop, beginning with higher yielding bonds.”