Zero Hedge: Gentlemen… the National Debt… is paid.”
That sentence has been uttered in Washington DC exactly one time ever, by a Senator announcing that the US government was officially debt free.
That was on January 8, 1835 when the debt that the United States government had accrued since its birth was finally paid off.
It took 147 years to get a trillion dollars into debt. The USA now routinely adds at least $1 trillion in debt every 365 days.
And why exactly are we adding all this debt? These are the good times!
The economy has been growing for a decade. The stock market is pumping up to all time highs. Almost every asset class is practically bursting with wealth. We’ve even seen record tax revenues.
And still, routine spending is a trillion dollars more than the government collects. more …
Opinion: We have said several times that Donald Trump built his fortune by leveraging debt. He has declared bankruptcy 6 times, essentially legally walking away from failed businesses and leaving banks stuck with the debt.
On April 2, 2016 he promised to eliminate the US debt in 8 years. But that was business man/campaigner Donald Trump. Today, we have politician/wanna be re-elected Donald Trump. Two different people – two different agendas, and sooner or later we the people will pay.
The game changer for politicians was/is Quantitative Easing (QE). When used in 2008-11 the United States under Barack Obama literally printed its way out a financial crisis. The stimulus of $4.5 trillion is like any other drug, it’s addictive.
The financial world is anxiously awaiting the next Federal Reserve meeting on July 28-29 to see how far they will lower interest rates. Even that statement is absurd. Why lower interest rates when the stock market is at all time highs and unemployment at 50 year lows? Answer: to avoid a slowdown from happening ever again. Debt does not matter anymore. QE 4 and zero interest rates will necessarily follow.
Yesterday, the government agreed on a $320 billion spending increase and a $4.7 trillion budget with a $1.101 trillion deficit. When ever you see Trump shaking hands with Pelosi, be sure to grab your wallet, debt is about to skyrocket.
So tell me again, where is the US in Bible prophecy?