US DEBT UP BY SAME AMOUNT IN LAST 5 YEARS AS THE FIRST 221 YEARS
The latest financial crisis started in September 2019 when the US banking system came under serious pressure and the Fed injected major liquidity into the near bankrupt system. Since that time, total US debt has increased by $21 trillion.
Let’s put this into perspective. It took the US 221 years to go from Zero debt in 1776 to $21 trillion in 1997 and just in the last 4 years, debt has gone up by that same $21 trillion.
Whether this cycle is the end of a 100, 300 or 2000 year era, only future historians will know the answer to.
Source Reference: https://goldswitzerland.com/a-catastrophic-debt-implosion-can-be-incredibly-quick/
