The United States is on the verge of a mass debt crisis. In our banks nationwide, there is more than 9 trillion dollars. The FDIC has only 25 billion dollars that is supposed to be "guaranteed money" to the American people. The way things work for our money situation is that when we have money and we spend it on making things for the people, the U.S. loses money. But if we want to borough money from foreign countries, we have to pay interest. These interests will add up if we continue to take money from other countries. Eventually we will be in big debt, like we are now. This continuing trend is not good for us because we continue to borough money from other countries and we cant pay them back because the money we do make here goes towards the people on welfare and things like that. Once the day comes that the United States can no longer pay off the interest that the other countries are receiving, the entire world will become in debt and we may have another Great Depression on our hands. No one knows how the whole world will be effected this time, because last time it was a little hiccup in 2008, and that caused a lot of damage in just a little bit of time. So a worldwide crisis will be more devastating than the Great Depression ever was, because the Depression wasnt the entire world. And now that the U.S. owes so much money, making it all up will probably take so much more time than it did to get back on our feet during the Depression. The video below explains this whole crisis a lot better than I did, so check it out. Please tell others about this issue that is upon us.
|
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |