DEFICITS, RATES & GOLD TO REACH VERTIGINOUS HEIGHTS
by Egon von Greyerz
GoldSwitzerland.com
October 10, 2018
The end of an empire is a dramatic but also drawn out event with very few willing to face the facts. As the end is getting closer, denial is at its peak. We can probably figure out how it will end but not quite when. Looking at the facts, the beginning of the end is here. The signs are clear. Here we have a country that for the last 27 years has doubled debt every eight years and the trend continues uninhibited. This is a country that for decades has been living above its means by borrowing unlimited amounts. Well, it is not a Banana Republic, nor Argentina or Venezuela but the biggest economy in the world – the soon not so great USA.
The US economy is just like Humpty Dumpty, big, fat and unlikely to recover from the coming fall for a very long time.
US DEBT HAS INCREASED 58 YEARS IN A ROW
The road to perdition normally takes many turns. But not in the case of the US. This has been a straight road to what will be the most spectacular fall in economic history. Since 1960 US debt has increased every single year without fail. There are some who are under the illusion that the debt went down in the 1990s due to surpluses in the Clinton years. But these were fake surpluses and the debt continued to rise also during that period.
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