The U.S. economy is falling apart at a frightening pace.
Right now, pretty much every piece of hard economic data is telling us that a historic slowdown is taking place, and that is resulting in dramatic consequences for millions of Americans.
Every sector of the economy is starting to falter, and the population is having to cope with the highest cost of living in nearly four decades. Even financial markets that performed well during the past few years despite the effects of the health crisis are currently experiencing a meltdown. At this point, everyone can see that we're officially entering another devastating economic downturn that can erupt a lot sooner than previously expected.
Financial and economic losses are rising to the tune of trillions of dollars with each passing month. Conversely, the U.S. debt load is soaring to levels never before seen in human history.
Do you have any idea how alarming that is? The U.S. is over $30.4 trillion in debt, which makes up for the greatest debt bubble in the history of the world. This means that our debt burden is bigger than the GDP of China, Japan, and India combined.
According to FEE calculations, if every single household in America was forced to pay off that debt, each one of them would have to disburse over $231,000, or each person would have to pay around $90,000. Actually, even if we paid $1 per second of the year, it would still take 713,470 years to pay down that entire sum.
Every day, we spend more than $900 million on interest payments on that debt. With that money, we could afford to pay for a 4-year college degree with all expenses included for around 27.464 graduating high-schoolers on a daily basis. These figures show us that we’re not investing in our future but trapped in a bubble of debt that only grows bigger each year.
According to a new CNBC CFO Council survey, 100% Of financial officers expect a recession to start in the months ahead. “No CFO forecast a recession any later than the second half of next year, and no CFO thinks the economy will avoid a recession,” reads the report.
Have you ever heard of a survey where 100 percent of the respondents agree? It seems that confidence in the U.S. economy is at an all-time low. In essence, everyone has started to realize that the U.S. economy is clearly moving in the wrong direction. Every month that goes by, we continue to see more and more evidence that a historic economic collapse is underway.
The "Everything Bubble" is now officially bursting, and the "Perfect Storm" economists warned about is not on the horizon anymore. It is already here and it is safe to say that our lives will never be the same again. We’re about to experience the consequences of decades of exceedingly reckless decisions, and the chaos that's coming will be extreme.
We must start paying attention to all of the alarm bells that are ringing because things are really getting out of control out there. For that reason, in today's video, we compiled some astonishing numbers that reveal the rapid decay of the U.S. economy.