In a global economy where money isn’t infinite and 62 people own half the wealth of the world, debt is used to fill the income gap to maintain the facade on our standard of living in order to benefit a few. This is not sustainable.
Buzzwords like “socialism”, “communism” and “capitalism” only serve to divide and conquer while governments and politicians are just pawns with the exception of a very few.
Where is all the money going? Not to the masses. Yet those few who benefit continue to push for more spending cuts and austerity measures that will never recuperate what a few take out of the global economy. This doesn’t even take into account the human cost, diminishing middle class. or the rise of extremism that comes with economic hardships. Many of the financial problems that plague countries are only symptoms. The main cause is income inequality. You can’t make a middle class out of a sow’s ear. Don’t be fooled.
Here are the debt clocks of the world’s two largest economies as of September 29, 2016:
National Debt Clocks
Oxfam: 62 people own the same as half the world
The Guardian: China’s debt is 250% of GDP and ‘could be fatal’, says government expert
The National Interest:The World’s Number 2 and 3 Economies Have a Massive Debt Problem
The Wall Street Journal: Congress Passes Spending Bill to Keep Government Running Through Dec. 9