Here are the latest items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. We also cover hedges, derivatives, and obscura. And it bears mention that most of these items are from the “tangibles heavy” contrarian perspective of JWR. (SurvivalBlog’s Founder and Senior Editor.) Today’s focus is on the National Debt.
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Jim Cramer blames a ‘group of complete morons’ for blowing up the market. Nobody rants about the stock market quite like Jim Cramer. Who could ever forget his classic “Open the Discount Window!” rant, back at the outset of the 2007-2008 credit crisis?
Moving on to this at FXEmpire: Commodities Daily Forecast
Courtesy of Reader Peter S., here is this at The Wall Street Journal: How Are Cities Paying Their Bills? With Fees on Trash, Parking, Sewers and 911 Calls
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La Deuda (The National Debt):
According the U.S. Treasury Department, interest on the U.S. National Debt was $458,542,287,311 in 2017. That is more than 14% of Federal outlays for the year! This level of indebtedness is simply not sustainable, long term. Presently, it is, but only while interest rates are absurdly low. That can’t last more than a few more years. Plan accordingly.
We can expect either an eventual default on the Federal debt, OR, mass inflation that will transition to hyperinflation. There are no other viable escapes for the Fed and the Treasury Department. Either of these will outcomes will arrive the next time that interest rates spike above 10%. The default or hyperinflation will be monumental, watershed events. This will make the Great Depression seem small, by comparison. It is time to diversify out of Dollar-denominated investments. You have been warned!
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Over at Zero Hedge: Moody’s Threatens US Downgrade Due To Soaring Debt, “Fiscal Deterioration”
A Huge Cash Transfer Offer (Scammer Humor)
I just received an enticing e-mail. This one was so brilliantly written that I felt that I had to share it:
My name is Moyers Steven, From united state of America but currently i’m in syria for peace keeping mission,I got your contact while searching for a reliably, honest and a trust worthy person to entrust this huge transfer project to,i hope you don’t minding? because i have a business proposal which I will like to discuss to you can we? if you are interested yes drop your email address or write me my private email address(moyers2020steven@<deleted>.com) for more full details
Gosh, I’m wondering if I should take him up on this offer of a “huge transfer project.” He sounds like such an honest guy…
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