S5155 - Congress Failure To Raise Debt Ceiling And Extend Eviction Moratorium May Trigger Economic Meltdown
Timcast News
Timcast Media
4.6 • 7.4K Ratings
🗓️ 2 August 2021
⏱️ 83 minutes
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Summary
Congress Failure To Raise Debt Ceiling And Extend Eviction Moratorium May Trigger Economic Meltdown. Democrats have struggled to deal with the end of the eviction moratorium meaning millions could soon be homeless.
But the US debt ceiling suspension just ended as well ad the US could be facing a default for the first time ever.
Shortages plague industry, from labor to raw materials. This of course caused by lockdowns which may be on the horizon once again.
As the COVID Delta variant spreads talk of another covid lockdown is underway according to reports. This could mean more food shortages more labor shortages and more economic collapse/
#Democrats
#Republicans
#DebtCeiling
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Transcript
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| 0:00.0 | Today is August 2nd, 2021, in our first story. |
| 0:05.9 | The suspension on the U.S. debt ceiling is over, and Congress has not acted to raise it, |
| 0:12.5 | which means the U.S. has begun liquidating assets in a desperate bid to pay off its debts, |
| 0:19.1 | and is on the verge of a default for the first time ever, and that could spell global catastrophe, |
| 0:24.5 | which brings us to our second story. |
| 0:26.7 | The moratorium on evictions is over, and there are now millions of foreclosures on the line, |
| 0:32.6 | millions of evictions pending, and if Biden or the Democrats don't do something, let's |
| 0:37.5 | just say global economic crisis is putting it lightly. |
| 0:40.3 | In our last story, China is locking down millions of people, which spells bad news for |
| 0:45.2 | the rest of us. |
| 0:46.4 | As noted in the previous story, a White House official tells Jack Pasobick, Lockdowns are |
| 0:50.7 | coming to the U.S. |
| 0:51.7 | Now, if you like this show, give us a good review, leave us five stars, and if you really |
| 0:56.0 | like this show, share it with your friends. |
| 0:58.3 | Now let's get into that first story. |
| 1:06.7 | Depending on which new source you read, the economy is either doing better than ever, |
| 1:11.6 | and everyone is super excited, recovery is here at last, or we're on the verge of a major |
| 1:16.9 | economic catastrophe. |
| 1:18.8 | Now I'm of the personal opinion, based on all the stories and the sources I have for |
| 1:22.8 | you today, that we are facing a very serious economic crisis. |
| 1:27.5 | It can be averted, but it would seem the only options we have are to kick the can down |
| 1:33.0 | the road in hope that we can keep kicking the can down the road. |
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