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Sunday, March 17, 2019

USA's Monstrous Debt Time Bomb Just Got Bigger...


Today brings news of the latest federal budget proposal, a $4.75T presidential wishlist doomed to defeat in the House that spends money we don’t have. 

Perhaps most striking is that we are on pace to shatter the all-time debt-to-GDP record established in 1946 — when the country was in the midst of the life-or-death crisis of World War II — for no other reason than politicians lying to us about what the country can afford. 

One unrealistic promise after another campaign exaggeration from Democrat and Republican alike, one after the next, has gotten us here. Interest rates are still near historic lows. 

As the US economy begins to slow, the Fed knows that by capitulating to demands to keep the Everything Bubble inflated at all costs, by ceasing interest rate hikes, they’ve left themselves scant few tools to combat the coming recession...

- Source, Gold Silver