25% of America has a negative net worth:
What they found was that, as a percentage of the world’s population, there are now more poor people in the United States and Europe than there are in China…
Here, they aren’t talking about income. They define poor as lacking ‘wealth’, i.e. taking into account assets and liabilities like cash and debt…
Credit Suisse estimates that 25% of Americans are in this situation of having a negative net-worth…
With a net worth of negative $60 trillion, US citizens are just following dutifully in the government’s footsteps.
This, as well as the national debt situation globally, is a combination of a society programmed to consume mindlessly like r-strategists, and the unseen approach of K-selection. Resources are contracting slightly and people should be saving, but they don’t see it, so they just continue to mine those free resources by drawing out debt.
Apocalypse cometh™
[…] By Anonymous Conservative […]