International rating agency Moody’s has issued a debt downgrade warning to the entire world due to deepening global geopolitical uncertainty and risks.
RT’s Keiser Report discusses the issue, noting that despite the rising turmoil the US Federal Reserve continues with its money-printing.
“Certainly, we do have a zombie economy thanks to the never-ending parade of free money from the Fed and the growing pile of debt,” says Stacy Herbert. She recalls the words of Fed Chair Jerome Powell, who said recently “the debt is growing faster than the economy.”
Max Keiser says that it reminds him of “the story of a mortician who is pumping formaldehyde into the corpse saying ‘no matter how much formaldehyde I pump into this corpse the breathing does not get any better.”’
Warren Buffett and Jamie Diamond could also be viewed as the mortician, he says, “as they get paid to inject formaldehyde into the corpse and they get paid hundreds of billions of dollars to do that job.”
The global economy, including the US economy, died in 2008 full stop, Max continues. “There was the credit crunch and the solution was to pump formaldehyde, what is called money, but in fact it is debt…”
According to him, all the QE, money printing, and bailouts represent debt.
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