As Fears of Another Global Crisis Renew, Bitcoin Gets More Attractive Author: Jimmy Aki Last Updated: 03 January 2020 If there’s one thing that the Trump administration has continued to brag about, it’s that the American economy is surging. Campaign talking points and discussions on business news media everywhere continue to say that the economy stays strong, especially in a world where several major economies are starting to sputter to a stop. However, looking under the hood of this issue could show something completely different; yes, the American economy continues to grow (figures show that the country’s GDP stood at about $20 trillion in 2018). However, this growth has been artificial, as debt has risen. Debt Continues to Pile Up Currently, the United States Debt Clock shows that total public debt in the United States stands at $23.15 trillion. For a more expanded picture, trading expert Sven Henrich revealed on Twitter earlier this week that while the United States has seen an additional $7 trillion in GDP over the last decade, debt rose by $11 trillion. In the last decade the US added nearly $11 trillion in debt while growing GDP by only $7 trillion.In other words: Every $1 in growth came with over $1.5 in additional debt. pic.twitter.com/mandXOZYPB — Sven Henrich (@NorthmanTrader) January 1, 2020 Essentially, the country has continued to buy GDP growth, and it hasn’t even been doing that overly well. So far, one of the biggest culprits of this has been the Quantitative Easing structures put in place by the government, structures which have crossed administrations. On October 3, 2008, President George W. Bush signed the Emergency Economic Stabilization Act of 2008, a bank bailout bill to the tune of $700 billion. At the time, Treasury Secretary Henry Paulson had asked for Congress to make a move to purchase mortgage-backed securities that were going to default. This way, Paulson could pick up the tab for big banks, hedge funds, and pension funds that were acutely vulnerable at that point. His objective at the time was to return confidence in the American financial system and provide big financial institutions with the leeway to return to profitability. It did work, but there are now dangers of these same economic mishaps repeating themselves. Earlier this month, the Federal Reserve announced that it would begin Quantitative Easing, in a move that is expected to roll its balance sheet back to levels over $4 trillion alone. Bitcoin as the Escape Plan The consumers are tired. Most are now pointing to the past to show why this strategy is futile. Very few people seem to be asking the important question as there’s a fixation on preserving the economy from a repeat of 2008. The government just seems fine with running its tab as it likes. Nevertheless, a massive increase in government debt is cause for alarm, and several experts have advised investors to look to some other alternative invest media top preserve their wealth. As always, there’s the question of whether they should flock to Bitcoin or not. Less than 6 months until we enter the 4th era of bitcoin inflation, at which point BTC will fall below the 2% inflation rate targeted by the Federal Reserve.https://t.co/qnZjhALJBh — Jameson Lopp (@lopp) November 17, 2019 For all its benefits, perhaps the most significant allure of Bitcoin is its ability to provide a store of value that isn’t controlled by the government. Investors view Bitcoin as a haven that’s functional and able to provide a way to exit the system and prevent a possible global economic decline. Financial institutions and regulators across the world are treading shaky ground, and trusting the system at this point is looking like less of a smart choice. Thankfully, there’s Bitcoin.