Our Current Financial Circumstances
- The U.S. is $22 trillion in debt and burdened with $100 – $200 trillion more in unfunded liabilities. Just to pay the interest the U.S. must borrow. Debt is rapidly rising and cannot be paid unless “they” default or hyper-inflate the dollar.
- Chairman Jerome Powell stated, “The U.S. federal government is on an unsustainable path.” Even the Fed admits what everyone should realize.
- Global debt is $250 trillion. Some countries have descended farther down the debt-paved road to economic hell than the U.S.
- Pensions are under-funded, student debt is a disaster, the main street economy is weak, real estate prices and sales are falling, retail sales are down, real wages have been stagnant since the 1970s, and no credible plan exists to fix debt, deficits or devaluations.
- The political and financial elite profit from wars, inflation, devaluation, strip-mining assets, and income inequality.
- It’s an ugly picture with no easy answers. But debt, deficits and QE levitated stock markets to all-time highs.