Monday, August 8, 2016 12:21
The U.S. Government is going to run a huge budget deficit going forward. Tax receipts are falling in correlation with economic activity and less foreigners are interested in buying new Treasury debt issuance. Last year, despite Obama’s claim that the U.S. budget deficit was only $400 billion, the U.S. Treasury had to issue over $1 trillion in new debt. Obama lied his ass off. This year the U.S. Treasury debt will go up even more than last year. At some point the Fed will have to print money in order to fund new Treasury issuance.
Jason Burak invited onto this Wall St for Main Street show last Friday. We discussed the deteriorating economic and political condition of the United States plus some other timely topics, including why every sell-off in gold and silver need to be bought: