Elon Musk Says US Might End Up In Bankruptcy Extremely Quickly... Biggest Bitcoin Bull Run
https://img.inleo.io/DQmZB9gNAXyVdvV1xAxKR23Tk1ARrHiF7pBJKpCRCWnL5uL/debt-1500774_1280.webp
It’s really no secret that the U.S. is in a debt crisis and has been in this crisis for as long as ever. The country literally runs or operates in debt. The problem and Elon Musk has noticed this is that the government keeps heading towards this debt direction thinking because it's America the most powerful nation in the world, it can't lose.
I think this is why US government always becomes extremely anxious when dollar in other nations becomes irrelevant and they start dropping it.
Elon Musk is a man of ideas and he spends a lot of time with smart people thanks to the kind of job he does and the companies he has established so where he speaks, especially in a live interview with people around also on live television, it will be wise to at least give you ears to him.
Whether you're his fan or not, one thing we can bet on is that he'll state the facts on the ground.
He recently made a statement about the country’s spiraling debt, warning that America is headed for bankruptcy extremely quickly. It's not just heading for bankruptcy but his emphasis was on how fast it was declining and how people have chosen to ignore it thinking that it won't and can never happen.
This wasn't some casual comment he passed to get attention, he managed to explain why by linking it directly to the $204 billion jump in U.S. debt in a single day. That’s a mind-blowing number, even for those of us used to hearing about trillions like it’s just some Monopoly money. US is literally adding over a trillion dollars on debt interests every year and it's becoming a big problem.
What was sad was that he said it's going to be the next generation, our children that wi suffer the burden of having to pay all that debt somehow. This is why mma lot of political leaders barely care about the decisions they make. It's a problem if selfishness.
Since the political leaders are aware that the problem won't affect them but the next generation, they really don't care and besides, they will be passing on the wealth they have acquired to their family so they won't give a damn about your family.
I think the value of traditional currency at some point will decline to a level where most might consider crypto which is more decentralized and isn't controlled by the sometimes poor decisions of the government.
So I think that begs the question of whether this serious debt problem could cause a bull run for bitcoin?
It might sound counterintuitive, but some experts think this could actually happen. As the U.S. digs itself deeper, people could turn to bitcoin as a hedge against this financial stupidity. This has already happened in countries facing economic instability like Nigeria for example where a lot of them started going into Bitcoin and other crypto causing the government if Nigeria to force a ban on crypto at some point.
Honestly, we’re living in weird times. U.S. debt is getting so big and might end up becoming more than they can handle and inflation is doing a number on us all.
Maybe Bitcoin and other crypto assets could be our only save Haven. If this happens, the rumors of the biggest bull run in 2025 could be true.
It's a simple problem of democracy. When politicians don't think further than the next election, there's no long term planning, and no concern for the pain they are storing up for other people's futures and their children's futures.
Absolutely brother, democracy has a serious crack in it
if that is true, than it is still the best time to accumulate crypto, especially Hive, because who knows the bitcoin bullrun will also jacked up Hive price. : )
Yes indeed brother, that's what is possible for 2025
It's crazy how the US and so many countries live on borrowed money and are drowning in debt. Just Imagine. I mean there are enough of us individuals struggling with debt, never mind whole countries. I can only see a collapse of this capitalist system in the near future. It's unsustainable.
Yes indeed dear, it's certainly going to collapse. The problem is how many people in the US will this affect. Unfortunately like Elon stated...the politicians that are keeping the country in debt will be long gone when the capitalist bubble bursts. It's the next generation that'll have to suffer paying the debt it owes other countries
Isn't it always so. To put it crudely: the sh1t always rolls downhill 😢
Always downhill Sadly
it's the middle class that always suffers right? Just not poor enough to apply for grants but stuck in overwhelming debt that we were enticed into, either through desperation or really good marketing by the banks, and then there are our tax contributions. We don't get leniency and reductions like the upper class because we can't afford the deductibles: like medical aid/ insurance. Ando so we continue to toil :(