Why A Sovereign Debt Crisis Is Coming - Brent Johnson

Brent Johnson explains why he thinks we will see a sovereign debt crisis in our lifetimes.
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[mackakiwinz]

Brent is right on the money. Great summary thank you. Here in New Zealand people have lost confidence in the government as all is being exposed. We have the second or third highest individual income to debt ratios in the OECD and a ballooning government balance sheet and crime is running rampant all by design.

[donaldtrumpuncensored]

I never understand why people say we are going to have a short recession with $300 trillion global debt!

[martylts]

Thank you again for creating these shorts! My wife and I greatly appreciate them.

[aatweed]

The US doesn't need to borrow its own currency. The US spends by essentially crediting accounts, and taxation is a redemption of some of the credit spending. This is why we never run out of money to 'borrow'. Because the borrowing comes from the Government spending itself.

[rccalhoun]

brent johnson calmly explains what is coming. there is no solution, except crisis. deal with it. prepare for it and pray.

[Rnankn]

I’m not sure that a lack of private investment would cause a sovereign to fail. Mainly because they have the power to create currency. Also because authority doesn’t vanish, and markets are not the only method of achieving ends. I imagine debt denominated in dollar would just be defaulted on. It’s the creditor who suffers. Plus the US seems most likely to fail, from internal divisions and ungovernability, as well as excessive public debt alongside excessive private wealth. To be sure, the financial system could be approaching a limit, but it is just a system of assigning values that is out of balance. It is not a physical or natural force, we can choose to value things differently.

[MickyAvStickyHands]

This is the biggest problem with Mexico. The US depends more on Mexico now than it does China or Canada. But the Peso swings so much. That's the first currency that needs to be stabilized for the sake of national security, food supply and manufacturing. Everything else can be worked out and re structured over time.

[william]

It's already started men 😞 I am scared for my Children and my grandchildren. Oh LORD God ALMIGHTY help us all in Christ I pray 🙏✝️ Selah

[kennethbaird]

The US went off the Gold standard because the URO was threatening its status. USD was to slow and restrictive, Gold and Bitcoin, have the same problem. The world would be better off if every country traded in its own currency in an open floating currency market. At the moment the Euro doesn't work for the same reason the USD doesn't work. They are each currencies. That do not represent the different economies of the counties that use them. The fiat currency allows for quick stimulus and quick currency contraction. The problem we are facing is the US needs to contract at a different rate to other countries.

[jonswanson]

Brent Johnson is a really smart guy, but when he said foreigners borrow in dollars because the dollar is popular hence lower interest rates, my mental alarm went off the meter!
Local central banks tell citizens that the local currency will retain it's value compared to the dollar and when the dollar is offered to lend at a lesser rate?
Seems safe, except when the downturn happens and exports shrink and the local currency goes down the toilet, gotcha!

[shayanandibra]

If everyone is in debt who do we owe the money to.

[maxoobbxxx]

The most indebted nation on Earth is concerned about other countries' debt? Please. Nobody needs dollars, you can borrow in other currencies. The only reason they preferred dollars is the attractive interest rates, but now it's out the window.

[bitcoindaddy]

so what happens when whole world solvent on USD? even russia wants out with counter party risk.

[TomHuckACAB]

US accounts receivable - $4trillion / year. Inflation is 16%. Interest rates will need to be 20% to kill inflation. 20% interest rates would mean $6 trillion yearly interest on 30 trillion US gov debt. It's over dude. All the way over. US will be bled in to nothing because it is now impossible to fix this inflation

[bitcoindaddy]

this will be plaza accord 2.0 on steroids...

[orwellhuxley]

It’s not faith in the government, it’s faith in capitalism (aka predatory capitalism)

[heinzbucksandcastle]

I am losing faith in people who say the world is ending, which it's not. Bye

[Pravin_CoHeir]

Whew, think I’ll smash buy more bitcoin now 🫠 Thanks