Porter writes that there’s no question that America is going to default. But there is something you can do about it: there’s a simple solution that Porter outlined for readers last fall and clarifies again today.
In today’s Daily Journal, Porter writes that there’s a growing likelihood that the entire U.S. financial system will have to be “reset,” because our government cannot afford these debts.
The bottom line is that all government spending will ultimately be paid for either through direct taxation, or more likely, through this “secret tax” we write about today. But, of course, it will be ordinary people who foot the bill either way.
In today’s Journal, Porter talks about America’s huge $35 trillion debt level. These debts are already so large, there’s no legitimate market-based way to finance the astronomical growth in government spending that lies ahead. “I’m not talking about a crisis in 2040,” he says. “I’m talking about a crisis by 2026.”
America’s banking system teeters on the edge of insolvency. The stage is set for more bailouts, more inflation, and the End of America. Here’s how to prepare – and what to do with your money.
America is not yet lost. But we are very close to the complete collapse of not only our financial system, but our entire way of life.
In light of the past week’s extraordinary market events, we’re releasing this “state of the markets” briefing.
Current Fed Chairman Jerome Powell wants to put an end to inflation. Unfortunately – for Powell, for markets, and for investors – it appears increasingly unlikely that he’ll get his wish.
Norfolk Southern is the latest poster child for the pitfalls of financial engineering. Years of reckless cost cutting and debt-fueled buybacks, at the expense of infrastructure upgrades, have caused an ecological disaster.
One of many casualties of the coming corporate debt implosion.