Alstry is NOT a Perma Bear
He just has a lot of formal training in Law, Psychology, Finance, Accounting, and Economics and most importantly, a lot of PRACTICAL Common Sense, and therefore is able to see reality a lot clearer than most.
At this point, due to very heavy debt loads and evaporating revenues...almost every major health system, school district, city, county, and state is effectively bankrupt or rapidly approaching bankruptcy. Going down that same line of logic, so are most businesses and individuals if you were going to subtract liabilities.....and now that millions are losing their jobs and cashflow is drying up, the race to insolvency is speeding up.
If you think about it from a distance, the problem is really not too difficult to understand. When you infect an entire economy with too much debt, you must either restructure the debt or somehow relieve the debt burden from the entity. If you policy is to only give money to the pushers of debt, you are certain that the debt junkies will soon run out of money because there is simply not enough money collectively to pay back the debt to the pushers.
IT IS NOT THE END OF THE WORLD...
But based on my calculations, if we continue down the current path, simply the bankrupting of 70-90% of every American citizen, business, hospital system, school system, city, county, and state. My figures are subject to error +/- 10%.
At the end of the process, the banks will own most everything and millions of Americans will be unemployed.....again that is not the end of the world.....if you prepare.