The unsustainable growth of the national debt that has risen to about $120,000 per household is a significant threat to the value of the US dollar. Porter Stansberry from Daily Wealth argues that the debt could grow to $20 trillion in the next 8 years, which will lead to high inflation and destroy an unprecedented amount of wealth held in dollars.
At the end of last year, I began writing about what I saw happening as the Federal Reserve started assuming the liabilities of the investment banks and the federal government began deficit spending at an unprecedented pace.
I've been calling these changes the "End of America" because I believe the fiscal policies of the U.S. will result in a massive devaluation of the dollar and the end of the U.S. dollar as the world's reserve currency.
The Coming Generational Storm By Laurence J. Kotlikoff and Scott Burns
Gray Dawn By Peter G. Peterson
Running on Empty By Peter G. Peterson
Quotes
“The US government has a technology, called a printing press… that allows it to produce as many US dollars as it wishes at essentially no cost.” – Ben Bernanke
"Central banking is the most brilliant device of profit-seeking monopolists and oligopolists in human history. Nothing else comes close. Hardly anyone understands it, so there is no organized opposition." - Gary North
"If our policymakers wait to address these growing debts until they are out of control, the solutions will be drastic and painful" Villarreal.
"Obama's team employed one of the oldest budget tricks in the books — exaggerating economic growth — to hide the true cost of his tax and spending plans." IBD
"Never allow a crisis to go to waste. They are opportunities to do big things." Rahm Emanuel
"Obama’s Trillion Dollar Debt Plan is not a ‘change’ from Bush, it is Bushonomics on steroids." The Heritage Foundation
"A stimulus bill should stimulate, not grow government" IBD
"What we have done is kicked this can down the road; we are now at the end of the road and are not in a position to kick it any further" Obama
"What’s good for the country my children will inherit?" Obama
"Is it a safety net, or a hammock?" Lazarovici
“If deficit spending stimulated the economy, with $2 trillion already out there, the economy should be performing like a double shot of espresso.” J.D. Foster
“Whenever you bail something out, you have to take resources from people doing well. It’s a zero sum game.” Arthur Laffer
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