The world’s financial markets are insane. They defy common sense. The responsible financial practices from the past have vanished. Markets have acted irrationally for so long now, we have to ask the question…
Does debt really matter anymore?
A few years back, I read about a new financial methodology. It teaches, instead of current financial methods, we needed to move to a modern financial system that seeks growth through debt. This new financial method came about as many are admitting, there is no way to get out of the debt we are in.
Growth Through Debt
Looking at our world today, it seems that practice has already been put to work.
Governments, companies and households raised $24 trillion last year to offset the pandemic’s economic toll, bringing the global debt total to an all-time high of $281 trillion by the end of 2020, or more than 355% of global GDP, according to the Institute of International Finance.
Bloomberg
Global debt now stands at $281,000,000,000,000. The world is $281 trillion dollars in debt! That is 355% of total global GDP (gross domestic product) which is the economic growth of the world’s nations.
Hey, in years past, this would have never worked. Yet, building the economy through debt has worked since 2008. Nothing was ever fixed after the market crash, the problems were simply papered over. Somehow, someway, the financial system continues.
Consumer Debt Rises To $14.6 Trillion
In the United States,
Total consumer debt rose to nearly $14.6 trillion as 2020 came to a close, pushed by a record-breaking rise for mortgages in the red-hot housing market, according to a Federal Reserve report Wednesday.
CNBC
So consumers just continue to spend, increasing their debt along the way. Today, no one is taught to save for the future. Instead, we are taught to “buy now”, “add to cart”, and so on. All we can think about is what can I have today.
Do you realize you can quite literally finance anything!
True story.
A few months back I bought some new shirts. Each one was maybe $20 bucks if I recall. Instead of paying for the shirts at check out in full.
I had the option,… to finance the shirts!
In fact, I could finance each one of those shirts for just $2.99 a month. I could have the shirts now, wear um and stink um up, while paying for them later.
I could not get over that.
If I didn’t pay for the shirts, was someone going to repossess them?
For the record, I paid in full.
We Are Revenue Streams
Today, we are all looked at as some future revenue stream. That was the idea with the shirts. Every month some poor sap is paying $2.99 for a shirt, plus interest. Meanwhile, he gets blasted with other offers to buy more clothing or whatever the case may be.
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In the end, the company is making a killing. Now they have a customer who keeps on coming back. It’s no longer considered a one time purchase, but a subscription. They have a customer they can keep on roping in while collecting interest on a $20 shirt.
You have all probably ran across this sort of thing by now.
Another example. Most people no longer purchase a cell phone in full. They simply finance the phone. The monthly bill for the phone is added to your cell phone service bill, and it fits into the person’s budget more easily.
Typically, there are no finance fees associated with that. So for most people, it makes sense. The problem, you are still in debt! You still have a monthly bill to pay, you have to go hustle to pay off what is not yet yours.
So we have become accustomed to the idea of paying a monthly fee for everything. Then that 1-2 year old phone becomes out of date, so just as you pay it off, you go get a new one, and you are back in debt.
This whole scenario really ties into Agenda 2030… Remember the article, Welcome to 2030. I own nothing, have no privacy, and life has never been better?
Most people already pay a monthly bill, for something they will never really own. They just trade it for something new.
So what is the point of ownership anymore?
Folks, the point in all of this.
The world is not changing, it has changed.
While each of us may manage our money responsibly, the world has gone in a new direction, and that is the point here.
Can Record Debt Really Continue…
At some point, there will certainly be a day of reckoning. We have seen market crashes before, and it’s certain there will be another.
However, considering today’s debt and the way we are attuned to this new generation of finance. It seems once the rubber band snaps, it will affect the entire world more than ever before. If the world does not respond together, globally we will be in financial ruin.
When we consider how the world responded, in unison, to the COVID-19 pandemic, we can only believe the world will do the same for the collapse of the financial system. The world will work together to find a solution to the global financial problems plaguing us today, manufactured or not.
When we think about this, it all ties right into the Bible and a future global government. This makes the future very exciting to watch.