As we survey the world scene of worsening poverty and the growing enslavement of entire peoples to corporate power, several common denominators emerge from this heaving sea of human misery.
Those most marked of these is the prevalence of debt. Debt has become a mire from which the people of this planet are increasingly unable to extricate themselves. Despite fantastic efforts, involving tremendous sacrifice and hardship, they are sucked ever deeper.
By 'people' we mean all people. Most people, as individuals, are personally in debt. Most businesses are in debt, many so much that they no longer operate on profit margins but on the size of their outstanding loans and overdrafts. Most, possibly all, major corporations, the giants of the world economic stage, are likewise so insolvent they can only appear solvent on paper by voraciously plundering assets, which they can offset against their mounting debts. Virtually all governments the world over are so overwhelmed by national or Third World debts, they see no hope of ever becoming solvent.
The bigger and more prosperous the nation, the more heavily mortgaged it is. The United States is the most indebted nation on Earth.
The current financial system depends banks issuing loans to supply 97% of 'money' into the economy. Thus almost the entire money stock is supported by vast debts in four main sectors: