Simon Black’s Sovereign Man e-letter reports: “It’s official. The United States government closed out the 2016 fiscal year that ended a few days ago on Friday September 30th with a debt level of $19,573,444,713,936. ??That’s an increase of $1,422,827,047,452 over last year’s fiscal year close. ??Incredible. By the way, that debt growth amounts to roughly 7.5% of the entire US economy.”
JWR’s Comment: Or look at it this way: The $1.4 Trillion in new debt surpasses all of the debt that the Federal government accumulated inclusively from 1787 to 1979—yes, and all in just one year. In all, in his eight years in office BHO has accumulated $9 trillion in debt. Our elected officials are burdening the future generations of Americans with a level of public debt that is almost mathematically impossible to ever repay. The handwriting is on the wall, folks. So be wise and invest accordingly. The U.S. Dollar is doomed, so hedge into tangibles—most notably: productive farm land, silver, guns, and ammunition!
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Over at Investopedia: Why should you invest in tangible assets?
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Banks ponder the meaning of life as Deutsche agonizes. JWR’s Comment: Be prepared for another global credit crisis, folks. This could result in bail-ins–which are levies on Bank deposits.
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