America is sinking… inch by inch.. into an unforgiving quicksand debt bog.
We are on track for an inevitable crushing economic implosion, unless….. we implement a dynamic, outside-the-box, comprehensive debt dissolution plan.
Seeking Alpha, Oct. 19, 2017 – by Eric Basmajian
The overload of debt that has accumulated recklessly over the past few decades, exacerbated by misguided Federal Reserve policy, has brought the economy to a point where we have mortgaged all our future growth for current (past) consumption. The anemic rates of growth over the past decade are a result of a massive debt overhang that is nearly certainly going to get worse as the debt problem has been magnified. The future picture of economic growth is very dire and will not be solved easily.
Debt is an increase in current spending in exchange for future spending.
The true consequences of easy Federal Reserve policy has been an surge in the accessibility of debt, an issue that was already causing massive economic issues. Truthfully, not all debt is bad, but Federal Reserve policy created an incentive to accumulate debt for the wrong reasons, also known as “bad debt.”
The meteoric rise in “bad debt,” stacked upon already crushing levels of existing debt, is the largest issue facing the economy today and will be going forward.
Before demonstrating how the Fed manufactured an incentive to accumulate “bad debt,” it is important to put into context both the current level of economic debt in the four critical non-financial sectors (Federal, State & Local, Corporate, Household) as well as the increase over the past 7 years.
Most investors are aware of the massive debt accumulated by the Federal Government that has soared to nearly $20 trillion and now is over 100% of total gross domestic product (GDP).
The debt of state and local governments is over $3 trillion. This debt load is worse than any point during the last recession.
State & Local Government Debt in Billions of Dollars:
Source: Federal Reserve, Bank For International Settlements, US Treasury
Turning the page once more to the household and corporate sector reveals an ugly picture for the economy. Since the last recession, debt in the household and corporate sector has increased over $12 trillion and now sits at a record $47 trillion.
Total Household & Non-financial Corporate Debt (Trillions):
There is one plan in America with the raw power to eliminate debt and reignite vigorous, healthy, sustainable economic growth.
The Leviticus 25 Plan is a dynamic economic initiative providing direct liquidity benefits for American families, while at the same time scaling back the role of government in managing and controlling the affairs of citizens. It is a comprehensive plan with long-term economic and social benefits for citizens and government.
The inspiration for this plan is based upon Biblical principles set forth in the Book of Leviticus, principles tendering direct economic liberties to the people.
The Leviticus 25 Plan 2018 – $75,000 per U.S. citizen