There certainly is something rotten at the core if world economies. Because the Petro Dollar forces everyone else to buy dollars eventually, any weakness in our economy gets ripples out to everyone else buying oil. With that and collusion from the Fed our give has been able to run $300 billion to $1.5 trillion DEFICITS EVERY YEAR for over a decade!! And that was after the mortgage and derivatives debacle that really was not fixed, just shuffled around. Risky mortgages, loans, and derivatives are still in play. The rot got plastered over only to fester into a worse condition but now spread throughout most countries (who are forced to follow our debt lead).

There will be reckoning and it will be much worse than 2007-2008 and it will be worldwide. How long they can keep kicking the debt down the road? No idea. This is unchartered waters and as the Fed pretty much admits, the controls no longer respond the way they used to and there is no clear path to a “fix”, not that any politician wants s fix. That would require limiting spending to revenues!!!! Or worse, paying down the debt!!!!

The elephant in the room no one wants commoners to consider is outright default on the total debt to central banks, and start over with blank slate and forced balanced budgets. Either the banks get wiped out by general defaults, or the commoners will be drained into serfs. No other way out that I see in the long term (next 50 years).