by Doug Casey, International Man:
Editor’s Note: Regular readers know Doug Casey literally wrote the book on crisis investing.
His book, Crisis Investing, spent 29 consecutive weeks at #1 on the New York Times bestseller list, earning the title of the best-selling financial book of the year.
In the book, Doug shares the secrets he’s used to become a self-made multi-millionaire by knowing how to play crisis situations for profits while other investors suffer losses.
TRUTH LIVES on at https://sgtreport.tv/
While those tactics still hold true today, we’re heading towards perhaps the biggest economic crisis of our lifetimes. And most people are unprepared.
From personal experience, Doug knows how much money can be made even when the world is in the midst of financial chaos. But only if you know how to play the situation.
That’s why, we urge you to read this piece written by Doug Casey’s colleague Lau Vegys, who writes extensively about the crisis we face now, and specifically how he and Doug Casey are positioned for prudence and profit.
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As you read this, the U.S. has smashed through a historic fiscal milestone of $35 trillion in national debt. That is roughly $105,000 for every individual and $270,000 for every U.S. household.
This means that the national debt has surged by nearly $2.3 trillion over the past 12 months. That’s about $6.4 billion every single day, roughly $266.7 million an hour, and around $4.44 million a minute.
Here’s a link if you want to watch it tick up live by the second, but be warned, it’s quite disturbing.
In short, America’s finances are sinking into a quagmire.
If you’ve been following us for a while, this might not come as a surprise. Doug Casey has been sounding the alarm about the dangerous levels of U.S. debt for decades. Yet, Wall Street and mainstream media have largely brushed it off, leaving Americans in the dark about the true extent of the crisis.
Why Should You Care?
This is a very valid question to ask because many people see national debt as a distant thunderstorm — something far off and abstract, rather than the storm that’s brewing right over their heads.
The fact is, people should be worried because, ultimately, they’re the ones stuck footing the bill.
For instance, do you know how much of your income taxes were spent on interest on the national debt last month?
According to the latest Monthly Statement of the U.S. Treasury (page 8) net interest expense was $81 billion. That’s 43% of the $185 billion the government collected in income tax receipts.
Think that’s bad? It’s actually a lot worse…
If you check the bottom of the table on page 9 of the link above, you’ll find that gross interest paid in June amounted to $140 billion. That’s 76% of all income tax receipts.
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