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Think for a moment about how many times something has been whipped up into a national issue by either the big legacy media or prominent politicians.
The public has been subjected to what they call “a national conversation” about everything from transgender bathrooms to Confederate monuments to abortion rights to climate change.
Many of these issues only affect a few people. Sometimes more. But not once have these same media or political personalities elevated the ONE issue that could deeply and adversely impact hundreds of millions of people over the next few years.
I’m talking about the US national debt... and its runaway trajectory that could easily become a major financial crisis in a few years.
The impact crater for a US debt crisis is gargantuan. 350 million people in the US would have their lives turned upside down. Dozens of countries who rely on the US financial system would suffer tremendous pain. Billions of people would be affected.
Yet there’s hardly a word about it. Far more ink has been spilled debating who should use which bathroom. It’s crazy when you think about it.
Many of those same people who should be elevating this issue are now complaining that Elon Musk did a “complete 180” because he thinks the $2 trillion projected deficit from the new tax/spending bill is an “abomination”.
I don’t see how this is a 180. Before, during, and after the election, Elon has been laser-focused on personally trying to fix America’s biggest threat: the ticking debt time bomb.
His message hasn’t changed. And the guy sacrificed plenty of time, money, and reputation to personally try and stop the catastrophe that will come if these deficits aren’t dealt with.
At least a few other prominent voices are finally echoing Elon’s warning—like Jamie Dimon, CEO of the world’s biggest bank.
That’s progress. Because the legacy media sure as hell won’t start this conversation on its own.
And that’s exactly why it’s hard to imagine we’ll hit the critical mass of voters needed to force politicians to do the right thing and tackle the deficits.
That’s what we dig into in today’s episode.
We break down how even supposedly serious financial media—like the Wall Street Journal—refuses to report on just how dire this situation really is.
One recent piece from the Journal even mocked people for buying gold to protect themselves from the obvious outcome of inflation. This is utterly hilarious, of course, given that gold has been one of the world’s best performing asset classes for this entire CENTURY.
But, hey, to the Journal, I guess we’re all just a bunch of idiots.
Today’s podcast also covers:
How everyone loves spending cuts... until you threaten their sacred cow (like taxpayer-funded Sesame Street)
What runaway interest costs mean for your future—and to the future of the US dollar
Why politicians won’t act until there’s a full-blown crisis—and what that will probably look like
That the debt problem is “solvable”—and why JP Morgan Chase CEO Jamie Dimon agrees with the solution we’ve been saying all along
Why slashing regulations needs to be part of that solution
Why strategic assets like gold, silver, uranium, and platinum are now more important than ever.
You can listen in here.
https://www.youtube.com/watch?v=m_LvYawIJXc
You can access the podcast transcript here.
James Hickman is a West Point graduate and former intelligence officer who has had an extensive business and investment career spanning more than 25 years. James has traveled to 120+ countries on all 7 continents, and he has started, invested in, and acquired businesses all over the world, in sectors ranging from technology to agriculture to banking. Since he originally began writing under the pen name “Simon Black” back in 2007, James has accurately predicted many of the major trends and events of our time, including the West’s enormous debt bubble, inflation, bank failures, social unrest, and more. Read more at www.schiffsovereign.com
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