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The US debt crisis will become one of the biggest issues of our time, affecting not only those in the US but everyone around the world. In this episode we explore the mechanisms of a default, the causes and solutions.
How the 2008 crisis still affects you: https://www.youtube.com/watch?v=U1dpWiZoiJU
Show notes: https://docs.google.com/document/u/1/d/1B6-shY_jJG62dAXiXVIrcgrA13oU1DSa05ZJVjUx9nU/edit?usp=sharing
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Producer: Dagogo Altraide, Tawsif Akkas
Writers: Dagogo Altraide, Tomás de Castro
Editors: Brayden Laffrey
Animation: Tawsif Akkas
Motion Graphics: Mathijs Luijten
Uh if you check, it just clicked past $36 TRILLION
No more food stamps, cut unemployment benefits, cut healthcare,
ECONOMY GOES BOOOOOOMMMM!!!!
Not to mention BRICS dedollarization will further errode dollar dominance in markets
Alright can’t Elon Musk pay the debt and we call it a day ?
Russia and China don’t trade in US dollars between themselves and they don’t use the western banking system to do it. This is a growing trend and with the emergence of BRICS, which is now 28 countries with a combined GDP greater than the G7, it will accelerate even faster. When BRICS launches their alternate banking and financial system no later than end 2026, the use of the $US will plunge, sending the western banking and financial sectors into chaos. Western sanctions on the big economies in BRICS will backfire in a severe way. The future is not looking bright for any country that calls itself the “west”. Unfortunately, the vast majority of people in the west are oblivious to even the existence of BRICS.