What Keeps Me Up At Night

The number one threat facing the nation, our coming debt debacle and no one seems to be talking about it.

The parties in Washington are arguing about another stimulus (much wasted by local government's giveaways) be it $1.5 trillion or $2.2 trillion. Did everyone forget that the federal money is all borrowed or monetized by the printing press?

Right now the U.S. Government owes $2.7 trillion, if you include our private sector debt, then $80 trillion we owe. Wait, if we count unfunded U.S. Government liabilities (you know, Social Security, pensions and Medicare), $210 trillion we owe.

With debts this large, there are a few choices: pay it off (not happening), inflate it away (yes, but do we want an economy like Iran, Venezuela, Zimbabwe or other basket cases), or massive devaluation of the dollar (so debts are easy to pay off). None of these are good options.

One other thought, if the dollar ceases to be a reserve currency we will see an immediate 35% drop in our purchasing power.


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