In this clip, James breaks down how national bankruptcy really happens — not slowly and predictably, but in a sudden, violent financial cliff-dive.
Borrowing to pay interest…
Interest causing more borrowing…
Debt feeding more debt…
This creates a doom loop that accelerates until collapse becomes unavoidable.
This is the “gradually, then suddenly” moment Hemingway described — and many countries may be standing right at that precipice.
#Economy #DebtCrisis #Finance #SovereignDebt #Bankruptcy #GraduallyThenSuddenly #SchiffSovereign
