The U.S., like the EU and most western nations, is “kicking the can down the road.” Consequently, a U.S. and global debt crisis looks likely in the coming months and years.
This version of the original article, by news.goldcore.com, has been edited* here by munKNEE.com for length (…) and clarity ([ ]) to provide a fast & easy read. For the latest – and most informative – financial articles sign up (in the top right corner) for your FREE bi-weekly Market Intelligence Report newsletter (see sample here)
In today’s update we look at yet another ‘Punch and Judy’ American election farce [where,]…once again, the politicians, the media and the people again managed to completely ignore one of the greatest financial, economic and societal challenges facing the U.S. and indeed the world – the coming U.S. $121.7 trillion debt crisis and the coming global $250 trillion debt crisis...
…This debt is just the nominal national debt and there is also the not insignificant matter of the between $100 trillion and $200 trillion in unfunded liabilities – for medicare, medicaid and social security. As the Baby Boomers retire, these liabilities are coming due in the coming years.
…Politics in the U.S. and globally has been reduced to a modern ‘Punch and Judy’ show. It is akin to a kids puppet show in which the competitors beat each other up and it is a distraction for the child like electorate. The politicians resemble mere puppets to corporate and Wall Street vested interests who are ‘pulling the strings’ and enriching themselves from behind the political stage and this is happening at the expense of individuals, families, farmers, entrepreneurs, small and medium size enterprises, less politically connected corporations and banks and ultimately society itself…Ultimately all of this bodes badly for the U.S., its economy and the US dollar. #munKNEE.com is being given away – check it out!
The threats posed to the U.S. dollar as the global reserve currency of the world and the coming dollar and fiat currency devaluations as currency wars intensify make owning physical gold in the safest ways possible essential to all who wish to preserve wealth in the coming years.
(*The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.)
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