Rubino explains, “The debt spiral part of this means things from here continue to get worse and worse for the big currencies of the world until they die…"
" In other words, until people lose faith in them, refuse to use them and hold them anymore until their value falls to their intrinsic value, which is zero. That manifests to hyperinflation. The value of the currency falls as opposed to the things you buy with it…
Things feel basically okay for a long time as long as governments could force interest rates down to really low levels. The side effects of that are massive money creation and, eventually, inflation. That’s what we are dealing with now. So, here we go. Welcome to the end game for the world’s big currencies.”
Rubino contends things have gotten so out of control that there is no stopping what is coming. Rubino says, “We are in the part of the cycle now where things just get worse, and there is nothing we can do about it…"
" You are going to see companies that have borrowed huge amounts of money to buy back their stock, and now they see their interest costs explode. Governments around the world have the same problem, and there is nothing central banks can do about this. The next stage of this is when everybody realizes that there is no fix. Daddy is not going to come home and take care of all of this, and there is no adult supervision.
The financial markets are basically on their own with so much debt that there is nothing left to do. You either have mass bankruptcies or inflate away the currencies of the world, and we’re there—finally. 2023 is going to be an amazing year… and we make the decision about what kind of a crisis we fall into.
We have a 1930’s style deflationary depression, which is what happens if we keep raising interest rates. Or, a Weimar Germany kind of hyperinflation, which is what happens if we try to inflate our way out of our current debt problems. And that’s it. This is not something on the distant horizon anymore. It’s something right here staring us in the face.”
Big difference in GDP per capita in Ireland compared to the rest of Europe.
GDP & GDP per Capita Leprechaun economics is misdirection clickbait that is central to the mass migration/plantation storyline.
It bamboozles Paddy and Mary, who won’t be expected to understand, but often Paddy and Mary have inherited common sense and can see real decline in living standards and economic wellbeing particularly through the fundamentals of life such as housing, health, and security.
The graph just shows that post bailout Ireland has turned into a great little country to launder money and dodge taxes in. We are catching up to Bermuda and Cayman.
The tandem decline with the rest of Europe in consumer confidence reinforces your point about Paddy and Mary’s inherited common sense.