Trade Talks Are Dead, And So U.S. Consumers Should Brace For A Long, Bitter, Painful Trade War With China

There is not going to be a trade deal between the United States and China any time soon, and that is going to mean a tremendous amount of pain for the U.S. economy.  For months, hope that the U.S. and China would soon reach a trade deal helped to elevate global financial markets, but now that hope has disappeared.  In order for a trade deal to happen, the two sides have to talk, and at this point no negotiations are scheduled.  And unless one side or the other decides that they are willing to move dramatically from their current positions, there really isn’t any reason to talk.  In fact, the Chinese government is openly saying that it is in “no rush” to negotiate with the United States… (Read More...)

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...)

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...)

One-Third Of All Americans Don’t Make Enough Money To Even Cover The Basic Necessities

Sad Child - Public DomainDo you remember the days when it seemed like almost everyone in America was middle class?  Unfortunately, those days are long gone and the grinding down of the middle class in the United States appears to be accelerating.  According to a brand new study that was just released by Pew Charitable Trusts, household spending increased by 14 percent between 2004 and 2014, but median household income decreased by 13 percent during that same time period.  Both of those figures were adjusted for inflation.  What this means is that the cost of living has steadily gone up, but our incomes have gone down.  In fact, as you will see below approximately one-third of all Americans don’t even make enough money to pay for the basic necessities at this point.  The middle class is being squeezed like never before, and very few of our leaders seem to care. (Read More...)

1.6 Trillion Dollars More Debt: Fiscal Conservatives Have Been Raped By The Republican Party

What the Republican Party has done to fiscal conservatives over the past year and a half has been a betrayal so vast that it is difficult to find words to describe it.  Back in 2010, the Tea Party was riding high and a flood of new Republicans was sent to the U.S. House of Representatives in one of the greatest landslides in U.S. political history.  On election night 2010, more House seats changed hands than in another other election since 1948.  It was the greatest defeat for any sitting president in a midterm election since 1938.  After the election, the Democrats were left with fewer House seats than at any other time since 1946.  Needless to say, it was an absolutely historic election.  The Tea Party completely dominated American politics that night, and they sent the Republican Party a clear message that they wanted government debt to be brought under control.  So what has changed since then?  Not much.  The U.S. government is still running trillion dollar deficits every single year.  I have previously spent a lot of time blaming Barack Obama and the Democrats for this, but the truth is that they could not have spent a single penny without the approval of the U.S. House of Representatives.  So the Republican Party is complicit in this crime against the American people.  If there was ever a mandate to take a stand against runaway government debt, it was after the 2010 election, and the Republican Party has failed miserably.  So what are fiscal conservatives supposed to do now? (Read More...)

30 Stupid Things The Government Is Spending Money On

If you want to get paid for doing something stupid, just turn to the U.S. government.  The U.S. government is paying researchers to play video games, it is paying researchers to study the effects of cocaine on Japanese quail and it has spent millions of dollars to train Chinese prostitutes to drink responsibly.  The amount of money that the government wastes is absolutely horrifying.  Do you remember all of that political wrangling over the debt ceiling deal last year?  Do you remember how our politicians told us that there were cutting spending as much as they possibly could?  Well, it was all a giant lie.  As you will see below, the U.S. government is spending money on some of the most stupid things imaginable.  What makes all of this even worse is that we are going into enormous amounts of debt in order to pay for all of this.  We are borrowing billions of dollars a day in order to pay for stupid stuff that no government on earth should ever be paying for.  Trust me, you are going to find it hard to believe some of the stuff in this list.  It is almost inconceivable what our politicians are doing with our tax dollars. (Read More...)

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