Why can’t Congress pass a serious tax reform measure? Because the feds need money. They can only get money from the people who have it — the rich. But the rich control the government and…
Even without knowing anything about the future, we grow nervous. The more we look, the more we see dangerous distortions and illusions caused by central bank meddling.
Ever heard of Surprise, Arizona? Well, neither had we. That’s where you’ll find a 78 year old ‘currency prepper’ Bernie Koerselman. A new breed of US investor.
Over the past 12 months demand for US government debt has fallen off a cliff… Yes, the US government is running out of friends.
The deal reached last night is not a resolution to the real problem of too much government debt… Not even of the artificial problem of the debt ceiling.
US debt dynamics could get very ugly, very quickly. If borrowing costs to continue to rise, soon the US will spend US$500 billion per year on servicing its debt.
Today we’re going to question whether the US government can, or will, really default on their debt obligations. In preview, our answer is, ‘No they won’t…’
We would be delighted with a debt default. It’s precisely what should happen. Congress spends more than it brings in by way of taxes. It has done this for years.