This Is What Happens When A Country Becomes A Ponzi
发布时间 2022-08-19 19:00:30 来源
摘要
In the US, recession fears and inflationary fears have been at all time highs. People are worried that they’ll permanently be priced out of certain categories such as housing. While these are no doubt righteous concerns, some countries in the world do have it far worse. One of these countries is Lebanon which has basically completely collapsed economically. The country has defaulted on their debt and they have been struggling to keep their currency alive. For years now, citizens have been trading their Lebanese Liras for US dollars on the black markets as fast as possible. On top of this, the smartest minds have been leaving the country in droves ever since the civil war began way back in 1975. In fact, things have gotten so bad that, Lebanon’s entire population has declined and is expected to continue declining. Just when you think things can’t get worse, Lebanon was hit with a massive blast in their capital, Beirut. This blast killed hundreds, injured thousands, and displaced hundreds of thousands. All of this has caused Lebanon’s GDP to nosedive by double digits. This video explains the dire state of Lebanon’s economy and the future of Lebanon.
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Timestamps:
0:00 - Lebanon’s Economic Crisis
1:35 - Brewing Crisis
4:23 - Ponzi Scheme
7:11 - A Turn For The Worst
9:12 - The State Of Lebanon
Resources:
https://pastebin.com/XndQGL3d
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