Very few people are talking about it, and even fewer are bothering to object, but by borrowing and spending so much money our politicians are essentially feeding America’s financial future into a wood chipper. It took from the founding of our country all the way to 1981 before the U.S. national debt reached one trillion dollars. Incredibly, we just added more than a trillion dollars to our national debt in less than a month. On April 5th, we were 23.9 trillion dollars in debt, and by May 4th we were 25 trillion dollars in debt. Fear of the coronavirus has caused nearly all of our politicians to suddenly become socialists, and we are being told that trillions more in spending may be coming. This is complete and utter lunacy, and we are leaving future generations of Americans with a mountain of debt that would absolutely crush them. But of course our society may not even last too much longer at the rate we are going. For years I have been loudly warning that our absurd national debt is an existential threat to America’s future, but at this point both major political parties have completely abandoned any sense of fiscal responsibility. Now our national debt is rapidly speeding toward the 26 trillion dollar mark, and the House of Representatives just passed a bill that would borrow and spend an additional 3 trillion dollars that we do not currently have… (Read More...)
Financial System
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...)
More Than 100 Million Americans Are On Welfare
There are more Americans dependent on the federal government than ever before in U.S. history. According to the Survey of Income and Program Participation conducted by the U.S. Census, well over 100 million Americans are enrolled in at least one welfare program run by the federal government. Many are enrolled in more than one. That is about a third of the entire population of the country. Sadly, that figure does not even include Social Security or Medicare. Today the federal government runs almost 80 different “means-tested welfare programs”, and almost all of those programs have experienced substantial growth in recent years. Yes, we will always need a “safety net” for those that cannot take care of themselves, but it is absolutely ridiculous that the federal government is financially supporting one-third of all Americans. How much farther do things really need to go before we finally admit that we have become a socialist nation? At the rate we are going, it will not be too long before half the nation is on welfare. Unfortunately, we will likely never get to that point because the gigantic debt that we are currently running up will probably destroy our financial system before that ever happens. (Read More...)
Who Decided That It Would Be A Good Idea….
Do you have faith in the people running this nation? When answering that question, most people would bash either the Democrats or the Republicans, but my question goes much deeper than that. Power is constantly shifting back and forth between the two major political parties, and it seems like things don’t really change no matter who is in power. What I am asking is if you have faith in the entire system. Do you have faith in the U.S. government, the Federal Reserve, the state governments, the local governments, our public schools and our financial system? Do you believe that the people that are running things in this country are doing a good job? When you look at the results, it is hard to argue that those in power are making good decisions. In fact, this country is caught in such a downward spiral that it would be easy to argue that most of our politicians should immediately resign in disgrace. Our leaders just keep coming up with one bad idea after another. Sometimes it almost seems as though it would be better for our leaders to do absolutely nothing at all because every time they try to do something they only make things worse. (Read More...)
How Can The American People Ever Trust Congress Again After Learning Of The Rampant Insider Trading That Has Been Going On?
Will the shocking insider trading revelations that have come to light in recent days finally be enough to motivate the American people to start throwing all of the con men and charlatans out of Congress? On Sunday, 60 Minutes opened up a huge can of worms when it did a feature story on insider trading by members of Congress. Up until now, the vast majority of Americans had no idea that insider trading was actually legal for members of Congress. In fact, as will be documented later on in this article, members of Congress have been using secrets that they have learned during the course of their duties to make huge amounts of money in the stock market. If you can believe it, during the financial crisis of 2008 some members of Congress were making huge stock moves that would only pay off if the stock market crashed really hard at a time when they should have been focusing on creating legislation that would help the U.S. financial system survive. Why haven’t we heard more about this scandal from the mainstream media? It is hard not to feel sick after learning how low some of our “leaders” have stooped to enrich themselves. Now that the American people are learning the truth, how can they ever trust Congress again? (Read More...)
Life After An EMP Attack: No Power, No Food, No Transportation, No Banking And No Internet
Most Americans do not know this, but a single EMP attack could potentially wipe out most of the electronics in the United States and instantly send this nation back to the 1800s. If a nuclear bomb was exploded high enough in the atmosphere over the middle part of the country, the electromagnetic pulse would fry electronic devices from coast to coast. The damage would be millions of times worse than 9/11. Just imagine a world where nobody has power, most cars will not start, the Internet has been fried, the financial system is offline indefinitely, nobody can make any phone calls and virtually all commerce across the entire country is brought to a complete stop. A nation that does not know how to live without technology would be almost entirely stripped of it at that point. Yes, this could really happen. An EMP attack is America’s “Achilles heel”, and everyone around the world knows it. It is only a matter of time before someone uses an EMP weapon against us, and at this point we are pretty much completely unprepared. (Read More...)
30 Questions That Children Should Be Asking Their Parents About The U.S. Economy
There are a whole lot of things about the U.S. economy that don’t make any sense whatsoever. Sadly, most adults have been so programmed to accept the way that things are by years and years of relentless propaganda that they don’t even bother to question the status quo any longer. But little kids are different. Many little kids are not afraid to say the darnedest things or ask really embarrassing questions. Have you ever been in a situation where a child asks an obvious question that did not even occur to any of the adults? That happens so often because the minds of little kids have not been completely warped by the world we live in yet. They are able to see things with honesty and innocence and with fresh eyes. Well, perhaps all of us should start looking at our economy and our financial system through the eyes of little children. There are a lot of things that we have been programmed to accept that we really should be asking some hard “why questions” about. (Read More...)
As The Dollar And The Euro Continue To Collapse, How High Is That Going To Push The Price Of Gold?
Right now, the global financial system is facing a crisis that is really unprecedented. The reserve currency of the world (the U.S. dollar) is collapsing and the second most powerful currency on the planet (the euro) is also collapsing. As the major paper currencies of the globe crumble, the hunger that investors around the world have for gold continues to grow. Today, the price of gold hit an all-time record of $1607.90 an ounce. But that record surely will not live for long. The truth is that gold has been steadily climbing for quite some time now. A year ago, the price of gold was hovering around $1200 an ounce and and many “mainstream economists” scoffed at the idea that the price of gold could go significantly higher. Well, nobody is laughing now. As colossal debt loads continue to crush both Europe and the United States, the euro and the dollar are going to continue to collapse. There are going to be more bailouts and central banks are going to be doing more money printing. So how high is all of this going to push the price of gold? (Read More...)