The United States’ national debt is approaching $24 trillion. The US economy is reaching a dead end. Savings per family: US$ 15,085.
Personal Debt per Cit. US$ 63,133.
US NATIONAL DEBT US$
23,589,918,529,596.
DEBT PER TAX PAYER US$ 190,388.
And that doesn’t include state and local debt of $3 trillion plus their $6-trillion unfunded pension liabilities. The chickens are coming home to roost. It’s only a question of when.
Meet The Press Broadcast (Full) - March 22nd, 2020 | Meet The Press | NBC News.
https://youtu.be/gOTC4grU35c
On the one hand, on a special edition of Meet the Press, Gov. Larry Hogan (R-Md.) and Mayor Bill de Blasio (D) discuss their coronavirus response. Sen. Pat Toomey (R-Penn.) talks about the federal stimulus bill. FEMA Administrator Peter Gaynor talks about the government's efforts to distribute medical equipment and other resources. Kristen Welker, Jeh Johnson, David French and Doris Kearns Goodwin join the panel.»
On the other hand, Wall Street forecasters have been slashing their estimates frenetically as the damage mounts. JP Morgan Chase, the largest bank in the US is the most pessimistic, predicting a stunning 14% annualized decline in gross domestic product in the three-month period running from April to June according to MarketWatch tow days ago.
The European Central Bank on Wednesday 18, announced a huge new money-printing program. It said it would spend €750 billion ($821 billion) buying government debt and private securities before the end of 2020, and stands ready to do even more if necessary. But even that action has failed to steady stock markets, which fell again in much of Europe.
Not only America, the situation in the rest of the world is out of control, isn´t it? Two decades ago, total government debt was estimated to sit at $20 trillion.
Some of the lessons we have learned these days of confinement.
On the other hand, Wall Street forecasters have been slashing their estimates frenetically as the damage mounts. JP Morgan Chase, the largest bank in the US is the most pessimistic, predicting a stunning 14% annualized decline in gross domestic product in the three-month period running from April to June according to MarketWatch tow days ago.
The European Central Bank on Wednesday 18, announced a huge new money-printing program. It said it would spend €750 billion ($821 billion) buying government debt and private securities before the end of 2020, and stands ready to do even more if necessary. But even that action has failed to steady stock markets, which fell again in much of Europe.
Not only America, the situation in the rest of the world is out of control, isn´t it? Two decades ago, total government debt was estimated to sit at $20 trillion.
Some of the lessons we have learned these days of confinement.
The worst economic collapse in history is on its way. Be prepared next days, months and possibly years. No one wants to have a lost decade 2020-2029.
Which industry is a candidate to invest during and after the crisis? Almost all industries are in a very bad financial position, which is reflected in the stock market for large companies and corporations, and also for SMEs and self-employed workers who are complaining that governments are not meeting their needs everywhere, specially in Spain, Italy and Latin America.
There is one industry that stands out above all others, large or small, cryptocurrencies that are showing resilience, and that will surely be the focus of many investors and entrepreneurs.
Other changes in the world, less use and in some places the prohibition of using notes and coins that are a source to spread viruses and bacteria. ATMs are out of service in Poland and many other countries.
People have realized that it is possible, to study, to work, from home. Surely schools, universities, local governments and job offices will have a new approach.
The same goes for airlines, the automotive industry, and Cruise lines, they have proved not to be so essential, but a very large source of contamination and a source of infection from viruses and bacteria with tragic consequences for all users.
Cryptocurrencies with PoW, proof of work are very safe because they have an entire industry behind, facilities, offices, electricity consumption, and more difficulty to be attacked, than other coin and token platforms.
With what has happened at the global level, we are moving towards a more decentralized world. A new Act has just come out that begins to prohibit European banks from discriminating against cryptocurrencies. The same is true with cryptocurrency friendly Acts in countries like China, Japan, Korea.
It has been a shame to have to go through a global pandemic to raise awareness of the value that cryptocurrencies, decentralization, smart cities, 5G, the internet of things, bitcoin and the new bitcoin vault can have in the near future and medium term of humanity.
On the other hand, ASIC mining SAH256 has not only proven to be a solid industry for efficient companies with mining poles in countries with competitive advantages such as climate, political stability and the low price of electricity. I am very proud to be part of MineBest comunity in 2020.
The other industry that has proven to be a source of income even to substitute or increase the usual income is the network marketing industry, especially those that do not have a physical product or service, such as food or medicine, but digital products that they are not physical and can continue to be marketed from home like the MiningCity business opportunity, even if supply chains around the world have slowdown, due to the arrest of the global economy.
These are some of the lessons that I have learned these days of confinement and significant reduction of individual, family and corporate income around the globe. Please be safe and stay at home.
MBA Rafael A. Vilagut-Vega. rafaelvilagut@gmail.com and ravilagut@ymail.com San José of Costa Rica, Central America.
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