National Debt

Sprott Money's picture

Seeking a Saviour

If we have a saviour, it is the person in the mirror. If we are to be saved, we alone must do the research, make the plans, vote with our feet and establish our own liberty.

Peter Schiff Warns: "The Whole Economy Has Imploded... Collapse Is Coming"

"We’re broke. We’re basically living off of debt. We’ve had a huge transformation of the American economy. Look at all the Americans now on food stamps, on disability, on unemployment... The whole economy has imploded... the bottom hasn’t dropped out yet because we’re able to go deeper into debt. But the collapse is coming."

GoldCore's picture

“Do not believe in anything simply because you have heard it. Do not believe in anything simply because it is spoken and rumored by many. Do not believe in anything because it is found written in your religious books. Do not believe in anything merely on the authority of your teachers and elders.” - Buddha

Seeking A Savior

It’s an unfortunate truth that, when people are worried about the future, they often put their faith in politicians to somehow make everything better. The hard truth, however, is that if we have a savior, he is the man in the mirror. If we are to be saved, we alone must do the research, make the plans, vote with our feet, and establish our own liberty.

Fourth Turning - Politicians Driving The World Towards War

Americans today are blissfully distracted by their iGadgets, plotting out their holiday shopping strategies, leasing new cars, eating out, and buying advance tickets to the new Star Wars movie. They don’t see the wicked winter squalls ahead which will try their souls. We are experiencing the lull before the storms, but the storms are surely coming. The potential for catastrophe is high and burying our heads in the sand is not a strategy.

The Class War Has Already Started

Here's what's obvious, but unacceptable: we need a new system. Not a system modified with tiny tweaks and a feeding trough filled with borrowed money--an entirely new system designed from scratch to be sustainable and with opportunities to build capital for all.

"US Debt Is 3 Times More Than You Think" Warns Former Chief US Accountant

In a shocking admission for most of mainstream America, the former U.S. comptroller general says the real U.S. debt is closer to about $65 trillion than the oft-cited figure of $18 trillion, thanks to unfunded liabilities which simply cannot be ignored. As The Hill reports, unless economic growth accelerates, he warns, "you’re not going to be able to provide the kind of social safety net that we need in this country," adding unequivocially that Americans have "lost touch with reality" when it comes to spending.

The Most Devious Liars In The Room

There were a few different stories coming out over the last few days that reveal the true nature of government and the apparatchiks who use disinformation, devious machinations, fraudulent accounting, and taxpayer money to cover up their criminality, lies, and the true state of the American economy. The use of government accounting tricks to obscure the truth about our dire financial straits is designed to keep the masses sedated and confused.

War, Big Government, & Lost Freedom

The lasting legacy of the First World War has been the rationales and implementations of paternalist Big Government in the Western world, with its diminished recognition and respect for individual liberty, free association, freedom of competitive trade and exchange, reduced civil liberties and weakened impartial rule of law. From this has followed the regulating and redistributing State, which includes political control and manipulation of the monetary and banking systems to serve those in governmental power and others who feed at the trough of governmental largess. It is a legacy that will likely take another century to completely overcome and reverse, if we are able to devise a strategy for restoring the idea and ideal of a society of liberty.

The Real Issues You Won't Hear From The 2016 Presidential Candidates This Election Year

These are not problems that can be glibly dismissed with a few well-chosen words, as most politicians are inclined to do. Nor will the 2016 elections do much to alter our present course towards a police state. Indeed, it is doubtful whether the popularity contest for the new occupant of the White House will significantly alter the day-to-day life of the average American greatly at all. Those life-changing decisions are made elsewhere, by nameless, unelected government officials who have turned bureaucracy into a full-time and profitable business.

'Lipstick'-ing The GDP Pig Amid An Epochal Global Deflationary Swoon

The talking heads were busy this week powdering the GDP pig. By averaging up the “disappointing” 1.5% gain for Q3 with the previous quarter they were able to pronounce that the economy is moving forward at an “encouraging” 2% clip. And once we get through this quarter’s big negative inventory adjustment, they insisted, we will be off to the ‘escape velocity’ races. Again. No we won’t! The global economy is in an epochal deflationary swoon and the US economy has already hit stall speed. It is only a matter of months before this long-in-the-tooth 75-month old business expansion will rollover into outright liquidation of excess inventories and hoarded labor. That is otherwise known as a recession.