The images of massive bank runs after the October 29, 1929 stock market crash troubled me as a student. American’s lost their life savings as half of the country’s banks failed. Stock values didn’t recoup.
My grandmother told me a few of her stories about how she made it through the ten year Great Depression.
This introduction sets the stage for sharing the first of three disturbing monetary facts.
Debt Ceiling: Congress and the Executive branches have continuously raised the national debt. The 2015 and 2016 limits have not agreed upon.
The mid-2015 deadline for raising the debt ceiling has passed. I think a raise this Fall is inevitable. If not the Federal Government could “Shut Down” as it did on October 1, 2013.
Look for future blogs on my views on THE U. S. Monetary SYSTEM. They might alarm you too!