Essay on National and World Debt Crisis

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From the dawn of time, everything has some sort of value. Currency differs around the world, but one thing consistently remains the same, everything comes with a cost. As the world has progressed, currency has become more sophisticated allowing for accurate exchange and proper payments. Unfortunately, however, as the refinement of money has progress so has the accumulation of national and world debt. Countries all over the world are facing debt crises, brought on by the credit collapse in the year of 2008. Community services, local jobs, and over employment are being cut and local possessions are being sold, in a last ditch effort to balance budgets that cannot be stabled. The reason the budgets are so out of line are because the flow…show more content…
The product is that European nations cooperatively are being swallowed by debt that they cannot dig themselves out of. Today we currently have over fifty-two trillion dollars in global public debt, America, Europe, Asia, Australia and parts of South America all ranking as the highest in debt, and every second someone is taking on more for which they cannot pay. This global issue affects every person of every age. It effects adults by the amount of taxes that are forced upon them to help repay national debt, it effects the younger generation by having to live in low-income homes because of the amount of money their parents must pay. As my generations is coming of age, it is now up to us to become more responsible and do your best to fix global debt. To escape the debt of the global, national and local bankers, the authority to create a general money supply needs to be reinstated to national governments. Other alternative options include having legal tender issued directly to national treasuries that can then be spent on national budgets. Alternatively, we can publicly possess banks so we can dissolve the nation's credit and lend it to the people interest free. The only other options I see personally, is to shrink the size of our government. We would not lessen the power of the local powers, but if we had less major figureheads, we would be paying fewer of the highest salaries. The massive groups of government can be found in every country.
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