The jungle drums are beating louder over the prospect of a global financial crisis and it is less to do with world crises like Ukraine and the Middle East and more to do with unsustainable levels of western government debt. Though wars could tip the balance and start the dominoes falling.
“We may be the most dangerous time the world has seen in decades”, says JPMorgan chief Jamie Dimon, the world’s most powerful banker.
The figures are scary. America’s total debt stands at $33.6 trillion, triple the 2007 figure.
In the UK, the national debt, thanks to the financial crisis, an ageing population and the pandemic, has risen from less than £700 billion in 2007 to £2.5 trillion. The UK entered this century with debt at less than 30pc of GDP; now it has risen above 100pc. Interest payments are at their highest levels since the 1980s. The tax burden is at a post-war high, limiting the ability of the government to raise further revenue. Yet in just over 10 years’ time, it is estimated that the NHS will require an additional 800,000-900,000 staff to meet growing demand from an ageing population – and there is no plan to pay for all these workers, the tools they will need, or the buildings they will work in. The day-to-day budget of the NHS may need to increase by 70pc.
The US and much of the West is maxed out on spending and debt even before a potential clash with the prevailing autocracies. There is little understanding of the scale of the sacrifice and economic reorganisation that would be involved if additional spending on security was required to deter enemies and prevent further conflict.
Britain isn’t alone in this. The US is currently on an “unsustainable” fiscal pathway, according to its own Treasury department. The deputy chief economist of the World Bank concurred, describing the post-2010 run-up in debt as “the fastest, most broad based and largest” that the world has ever seen.
All of this pulls together a context to what has been covered in previous posts.
There are a few parallels with 2008 with the recent collapse of a few minor banks and Switzerland baling out Credit Suisse – see previous Banks at risk – will the impossible become inevitable? post March 17 March 2023. But it does not look astrologically similar to 2008 or 1929 or even 1987/1992. What are flagging up red alerts are a whole array of Central Bank charts.
The US Federal Reserve has tr Pluto opposition the Neptune at zero degrees Leo in 2023/24 which usually indicates devastation of sorts and paralysis running for two years after; followed by tr Neptune square the Saturn Pluto conjunction in 2025/26 which won’t be much better. The Bank of Russia has an equally blocked and scary tr Pluto square Mars at zero degrees Taurus in 2023/24. The European Central Bank has Neptune at 1 Aquarius catching the tr Pluto hard aspect in 2024/25. The Bank of China is nerve-stretched in 2022 and worse in 2024 to 2026 with tr Neptune and Solar Arc Neptune both in hard aspect to its overly confident Uranus opposition Mars Jupiter which will deflate confidence considerably. The European Central Bank has Neptune at 1 Aquarius catching the tr Pluto hard aspect in 2024/25. The Bank of Australia highlights 2024/25 as years of panic and uncertainty.
Even the Bank of Switzerland, 20 June 1907, looks mired in consternation and panic now on and off until January 2025 with tr Neptune square its Gemini Sun and conjunct its Saturn. Into 2025 there will be a totally road-blocked Solar Arc Pluto square Mars.
See post 10th September 2021: Pluto into Aquarius – shock waves through central banks.
Economists on YouTube point to Rushi Sunak’s time as chancellor printing empty money Quantative Easing as the root of where we are with devalued currency and inflation. They also point out that these ‘wars’ are simply money laundering schemes of giving tax money to these rogue states and they buy British arms, the tax money goes into Military Industrial Complex[previously Pfizer Big Pharma]. The arms are then sub-let/resold – Ukraine’s UK arms apparently were sold to militias in Niger who then had a coup that overthrew the French. So just usual life really.
I’m no fan of the Thatcher/Major government of 1979/97, but during his term as chancellor, Kenneth Clarke – a man who should have been the leader of this nation, on the grounds of sheer talent and ability – was actually *paying off* the national debt!
I fully realise that the Thatcherite agenda went too far, the unremitting drive to cut costs at any possible price is the direct cause of most of the troubles the UK faces today, but my point is just how easy it is for one politician to trash another politician’s legacy more or less at a stroke.
Another point, the enormous levels of immigration the UK has suffered since 1997 has done absolutely nothing whatsoever to improve national economic performance, despite claims, made by the politicians responsible, at the time.
Ken Clarke-quite and paying down the debt at a time when interest rates for servicing the debt were at an all time high….we are dealing with pygmy politicians nowadays whose only job it is to get their mugs on the front page of the Donkey Mail.
It’s the virtual money (speculation and overvaluation of assets) which is the problem and the 2008 crash tried to squeeze that out of the system. Unfortunately like fungus it has grown back quicker than before. Next crash will be even more dire than last one but I think it will come next year, not this. A thing is only worth what someone is willing and able to pay for it. With no buyer it becomes worthless (Chinese property boom). Financial value is a construct which will fail as soon as it is recognised as the illusion that it is. I am so curious about what will emerge instead.
Not fungus, 2008 saved the honchos who were responsible for the crash ..working class paid for it…so it was necessary to have another to remove the real culprits n now it’s happening, economically after a decade so theoretically right.
Planets might not reveal all but parameters r running on same track as 1930s…Neptune is v deceptive..it’s total real purpose is seen only after it ends.pluto ofcourse is regeneration so this coincides with those who used bankruptcy to save their treasuries now getting the nail…high time not just banks but mindset of this era to brag riches on loans gets buried
What will is emerge is those who live below their means n have no debt will only b ones to survive..india is having youth in 20s dying of heart failures to families committing suicide out of debt stress..Pluto in Aquarius …regeneration of values .. with Saturn in Pisces ..sign of wealthiest n corporate world lord
It is not just western governments that are facing serious economic problems. It was reported earlier in the week that the Russian economy was likely to seriously over-heat in 2024 and plunge into crisis; while China continues to juggle with the perilous problem of its massive property investment companies. These have been tottering on the edge of an abyss for several years; saved only by Beijing’s intervention.
I watched a YouTube video a few weeks ago that suggested that the debt situation in China is much worse than being reported.
While the Chinese national government’s debt is at 77% of GDP, which is great compared to the UK’s almost 100%, if one factors in the debt of provincial governments, it jumps to 150% of GDP and the debt of individuals jumps the total to about 350% of GDP.
Mind you, I suspect that the UK is almost certainly similar, if one factors in the individual debt, in addition to the national debt.
I read recently that Italy had been downgraded by Moodys to somewhere slightly above junk status. Many astrologers have said that Italy and it’s economy could be the catalyst for the disintegration of the EU.
With alarm bells ringing in various sectors of disparate economies around the world – I wonder if this would be one of those “perfect storm” moments where several seemingly unconnected events all activate at the same time – would anything in the astrology indicate that possibility?
The lunar eclipse on October 28th.
The EU will last a thousand years and outlive us all(a reference to the Holy Roman Empire, not to the vision of a moustached corporal of the Bavarian army).