The True Size Of The U.S. National Debt, Including Unfunded Liabilities, Is 222 Trillion Dollars

The United States is on a path to financial ruin, and everyone can see what is happening, but nobody can seem to come up with a way to stop it.  According to the U.S. Treasury, the federal government is currently 22 trillion dollars in debt, and that represents the single largest debt in the history of the planet.  Over the past decade, we have been adding to that debt at a rate of about 1.1 trillion dollars a year, and we will add more than a trillion dollars to that total once again this year.  But when you add in our unfunded liabilities, our long-term financial outlook as a nation looks downright apocalyptic.  According to Boston University economics professor Laurence Kotlikoff, the U.S. is currently facing 200 trillion dollars in unfunded liabilities, and when you add that number to our 22 trillion dollar debt, you get a grand total of 222 trillion dollars. (Read More...)

2019: It Is Going To Be Much Worse Than You Think…

The beginning of a new year is supposed to be all about hope, right?  And I would certainly like to tell you that 2019 is going to be America’s best year ever and that everybody is going to receive a double portion of blessing, prosperity and happiness, but that simply would not be true.  Unfortunately, the truth is that the elements for a “perfect storm” are rapidly coming together and 2019 is going to be an exceedingly challenging year.  Of course 2018 wasn’t exactly a wonderful year either.  I really like how Dave Barry made this point in his most recent article(Read More...)

Is It Okay That Christmas Is All About Materialism?

How would you feel about Christmas if there were absolutely no gifts at all?  That may sound like a very strange question, but I think that it is a very important one, because the truth is that our biggest holiday of the year by far is all about materialism.  According to ABC News, the average American will shell out $700 for Christmas presents in 2018, and the National Retail Federation is projecting that total Christmas spending will surpass $465,000,000,000.  Only 25 countries on the entire planet have a GDP that is greater than that number.  Ultimately, Christmas is defined by what we give and what we get, but is that actually healthy? (Read More...)

Debt Insanity: Does Anyone In Washington Even Care That We Are 20 Trillion Dollars In Debt?

There has been a tremendous amount of talk about the spending deal that was just reached in Congress. Most of the focus has been on who “won” and who “lost” politically, and if you have been keeping up with my articles you definitely know my opinion on the matter. But what nobody is really talking about is that this deal actually increases spending at a time when our debt has been absolutely exploding. We added more than a trillion dollars a year to the U.S. national debt during Obama’s eight years in the White House, and our debt binge actually accelerated toward the end of his second term. In fact, the national debt increased by more than 1.4 trillion dollars during fiscal 2016(Read More...)

Top Adviser To The Chinese Government Calls For A “Global Currency” To Replace The U.S. Dollar

One WorldThe former chief economist at the World Bank, Justin Yifu Lin, is advising the Chinese government that the time has come for a single global currency.  Lin, who is also a professor at Peking University, says that the U.S. dollar “is the root cause of global financial and economic crises” and that moving to a “global super-currency” will bring much needed stability to the global financial system.  And considering how recklessly the Federal Reserve has been pumping money into the global financial system and how recklessly the U.S. government has been going into debt, it is hard to argue with his logic.  Why would anyone want to trust the United States to continue to run things after how badly we have abused our position?  The United States has greatly benefited from having the de facto reserve currency of the planet for the past several decades, but now that era is coming to an end.  In fact, the central bank of China has already announced that it will no longer be stockpiling more U.S. dollars.  The rest of the world is getting tired of playing our game.  Our debt is wildly out of control and we are creating money as if there was no tomorrow.  As the rest of the world starts moving away from the U.S. dollar, global power is going to shift even more to the East, and that is going to have very serious consequences for ordinary Americans. (Read More...)

If He Was Around Today, Thomas Jefferson Would Be Considered A Tea Party Extremist

Thomas JeffersonThomas Jefferson was radically anti-tax, pro-gun and anti-central bank.  He loved precious metals, he openly acknowledged a “Creator” and he wanted to add an amendment to the Constitution which would ban the federal government from going into debt.  If he was around today, he would be considered a “nutjob”, an “extremist”, a “fascist” and even a “potential terrorist“.  But of course Jefferson was none of those things.  Rather, Jefferson was a great thinker, the primary author of the Declaration of Independence and our third President.  Below, I have shared a list of 13 famous Jefferson quotes (13 for the 13 colonies that originally founded America) that show just how far America has fallen away from our founding principles.  I think that most of you will be very shocked when you read this list… (Read More...)

Do NOT follow this link or you will be banned from the site!