“This time may seem different, but all too often a deeper look shows it is not. Encouragingly, history does point to warning signs that policy makers can look at to assess risk—if only they do not become too drunk with their credit bubble–fueled success and say, as their predecessors have for centuries, “This time is different”. ― Carmen M. Reinhart, This Time Is Different: Eight Centuries of Financial Folly
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It is my sincere desire to provide readers of this site with the best unbiased information available, and a forum where it can be discussed openly, as our Founders intended. But it is not easy nor inexpensive to do so, especially when those who wish to prevent us from making the truth known, attack us without mercy on all fronts on a daily basis. So each time you visit the site, I would ask that you consider the value that you receive and have received from The Burning Platform and the community of which you are a vital part. I can't do it all alone, and I need your help and support to keep it alive. Please consider contributing an amount commensurate to the value that you receive from this site and community, or even by becoming a sustaining supporter through periodic contributions. [Burning Platform LLC - PO Box 1520 Kulpsville, PA 19443] or Paypal
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To donate via Stripe, click here.
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Use promo code ILMF2, and save up to 66% on all MyPillow purchases. (The Burning Platform benefits when you use this promo code.)
Top 10 countries with the Worst Debt-to-GDP Ratios
1. Japan (245% at $11.59B)
2. Greece (173% at $338B)
3. Italy (138% at $138B
4. Portugal (133% at $274B)
5. Belgium (111% at $111B)
6. Spain (106% at $106B)
7. Canada (106% at $106B)
8. Ireland (105% at $105B)
9. France (98% at $98B)
10. Brazil (82% at $82B)
Yes this time IS different!!
After this experiment is finished it will unleash untold stories of wealth destruction, from the bottom of the financial ladder thru to the upper middle class, essentially wiping them out with no assets whatsoever, when all is said and done. This will make the last great depression look like a cake walk in comparison.
The good news is that after we pick up any pieces leftover, a new and better financial future awaits the survivors, and a new and better way of dealing with “credit & debt”
And the current batch of perpetrators?….. will get off Scott free…….
Has society ever hanged the bankers? Well, yes; Achtung.
They have been expelled a hundred of times; either way works great.
Not really. This time the world needs to commit genocide against the bankers. When it’s finished, the world should talk about it the way we now talk about the holocaust except joyously!
It’s hard to get ahead going behind.
Don’t know about this “time” as an inflextion point, but relativity of time dimension appears to becoming increasingly evident as a function of increasing “aberrant events” more frequently referred to as “The Quickening”. Exciting times anticipating when/if there is an imminent “critical mass moment” and the complexity/corruption of the system finally succumbs/capitulates to another chaotic reaffirmation of entropy. Soooo thankful to be a STILL PRODUCTIVE “fly-over deplorable” repentING reprobate old fart, already RURAL, inland, GROUNDED, GROUPED, GUNNED, GARDENED. Yo, all “citYzen coasters” CHOOSING to remain trapped in incorporated municipal sewer traps complacently “getting by” – tick-tock, tick-tock.
So you’re like a prepper on acid?
This time is quite different. The expansion of economic activity in the world is unprecedented. For Christ sake, Zimbabwe has a stock exchange. I think a great deal of the expansion is unsustainable, but I see little chance of a 2008 type crash. Central bankers learned from Hank Paulsen, as long as you can fake solvency with liquidity, you can buy a lot of time. At the time Reinhart and Rogoff published the book quoted above, this policy has not been fully fleshed out. As long as central banks can print trillions in counterfeit money at will, and suppress inflation by printing gold, and kill bad debt by burying it in bonds, this could easily go on for the rest of our lifetimes.
Or until China or Russia decides not to play the game anymore.