The West’s Debt-Bomb
In the news today; we saw the Corporate media engage in a typically Machiavellian attempt to present the West’s “debt problem”. It did this by first hiding the explosion of Western debt within the total growth of overall global debt.
The amount of debt globally has soared more than 40 percent to $100 trillion since the first signs of the financial crisis as governments borrowed to pull their economies out of recession…
This was followed by a convoluted presentation of “creative statistics” (i.e. gibberish numbers, which mean nothing), cobbled together to present the following message: things were pretty bad with Western governments back when the Crash of ’08 took place, but “we’re much better now, thanks.”
With the United States being the apex of this propaganda, the Corporate media (as usual) made particular effort to “explain” how much stronger the U.S. economy was now versus then. In other words, the picture in the U.S. was a particularly extreme perversion of reality.
Below, we see Step 1 in going from that media fantasy-world to the real world; our official numbers on GDP and debt for the Anglo banking “Axis of Evil”
______________GDP_____DEBT_(2007)_____GDP_____DEBT_(2014)____
Canada $1.56T $516B* $1.82T $676B*
United States $13.3T $8.5T* $15.7T $17.4T*
UK $2.44T $500B* $2.44T $1.28T*
(* - excludes state/provincial debts and other liabilities)
Because the numbers above for the U.S. and Canada require a considerable, additional amount of translation; let us first look at the UK numbers – where the picture is (somewhat) clear. No change in GDP between 2007 and 2014, while total debt exploded to more than 250% of its previous level. But even these numbers understate the horrific debt-bomb constructed by the UK government over the past seven years, as we’ll see when we examine the doctored numbers for Canada and the U.S.
Relative to the UK; things look pretty good in Canada, until one pokes their finger through that phony façade of health. The first point to note is that Stephen Harper and his Conservative government inherited the strongest economy in the Western world, with a high rate of growth, huge trade surplus, and the only budget surplus of any major Western economy. Thus it took considerable sabotage just to reverse all that positive momentum...
Full commentary: http://www.bullionbullscanada.…26505-the-wests-debt-bomb
