HARRY 3 on Nostr: Notes and reflections from the Sovereign Individual. (In 1997!!??) Page 308 - ...
Notes and reflections from the Sovereign Individual. (In 1997!!??)
Page 308 - Indebtedness at such levels is all but mathematically hopeless. A study of the Toronto Stock Exchange CO’s undertaken a few years ago showed that few debt ratios one- quarter as extreme as those facing leading welfare states today. Put simply they are broke. As this reality is faced, grudgingly but inevitably, literally trillions in unfunded entitlement obligations will be written off.
(Fast forward to 2023 - the debt situation- Fed debt 33triillon and spiralling out of control- can it go on much longer!!??)
Page 308 - Indebtedness at such levels is all but mathematically hopeless. A study of the Toronto Stock Exchange CO’s undertaken a few years ago showed that few debt ratios one- quarter as extreme as those facing leading welfare states today. Put simply they are broke. As this reality is faced, grudgingly but inevitably, literally trillions in unfunded entitlement obligations will be written off.
(Fast forward to 2023 - the debt situation- Fed debt 33triillon and spiralling out of control- can it go on much longer!!??)