Don't worry if you are an American. If you are in deep poverty the government will run out of welfare money. If you are middle class your taxes and expenses will continue to rise until you are in deep poverty. If you are rich the government will help itself to your savings in order to reduce you to deep poverty with everyone else. Bottom line: Wealth equality!
There could be an upcoming banking crisis with record amount of bank loan defaults. It is your money that Banks and Financial Institutions will use for either:
Bail-outs - where you have to pay for it through future taxation, or
Bail-ins - where you pay for it right now as the bank takes some of your deposits
The national debt is skyrocketing beyond recovery point due to Covid-19. The credit worthiness of the U.S. is at risk and the government can’t afford to take on more debt unless it is willing to face imminent insolvency and ultimately bankruptcy. The financial burden to stabilize this enormous debt is too great. As such, bail-ins of the upcoming banks and financial institutions crisis could be extremely likely this time instead.
There could be an upcoming banking crisis with record amount of bank loan defaults. It is your money that Banks and Financial Institutions will use for either:
Bail-outs - where you have to pay for it through future taxation, or
Bail-ins - where you pay for it right now as the bank takes some of your deposits
The national debt is skyrocketing beyond recovery point due to Covid-19. The credit worthiness of the U.S. is at risk and the government can’t afford to take on more debt unless it is willing to face imminent insolvency and ultimately bankruptcy. The financial burden to stabilize this enormous debt is too great. As such, bail-ins of the upcoming banks and financial institutions crisis could be extremely likely this time instead.