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Both Republicans and Democrats have been complicit in this crime. Unfortunately the larger the debt is the more pain all Americans will endure. Personally not a gold bug, but the gold standard did enforce some type of government restraint from endless $ printing/spending. pic.twitter.com/NKexLck1Nd
— Tony (@BanditTonyShel) January 28, 2023
It’s easy to just constantly predict financial collapse and then when it doesn’t happen say “oh it’s coming.” Because you’re always right – it’s eventually going to happen.
Everyone on the right-wing has been guilty of this. Daily Stormer has done this less than many, but of course we do it. Saying “the economy is going to collapse – just wait” is a requirement for right-wingers.
But when Yellen herself, the top bitch, is saying this, well… it probably is sooner than usual.
RT:
US Treasury Secretary Janet Yellen on Saturday warned of dire consequences the country may be facing if it doesn’t hike its statutory debt ceiling in the coming months. According to the senior official, the US could default on its debt by summer, which would lead to a financial crisis.
“It makes me nervous…It would be devastating. It’s a catastrophe,” Yellen told Axios news outlet, adding that “we’ll have a financial crisis and I believe we would have recession in the United States.”
“Spending would have to decline to match the tax revenues,” Yellen said, which would strip the government of the ability to support the economy with stimulus. Furthermore, “psychological consequences” like people fearing to spend money could then “further impact spending and deepen a recession.”
She noted that a full-blown US debt default would also send ripple-effects across the global economy.
“Americans would face higher borrowing costs, and it would cause a good deal of turmoil globally as well,” Yellen said.
In many ways, we’re already in an economic catastrophe.
The US economy is linked to the rest of the Western economies, and Europe is a total disaster from this war on Russia.
Plus, I mean – how are your people doing? My people are not doing great.
New US aid package to Ukraine-
8 AN/TWQ-1 Avenger Air Defense Systems
59 Bradley IFVs with 590 TOWs and 295k rounds of 25mm ammunition
90 Stryker APCs
350 HMMWVs
53 MRAPs
20k 155mm artillery rounds
95k 105mm artillery rounds
12k 120mm mortar rounds pic.twitter.com/gcDSB1O7dN
— OSINTtechnical (@Osinttechnical) January 19, 2023
