On Joe Biden’s last day, the US is dangerously close to the point of no return [Podcast]

It’s hilarious how Joe Biden spent his entire four year administration using tech companies to suppress dissent and censor critics. He now claims those same tech companies are a threat to democracy.

He just awarded the Presidential Medal of Freedom to billionaire George Soros, who notoriously uses his money to meddle in elections and fund ultra-woke leftist politicians. But billionaires who fund causes on the right are… a threat to democracy.

Biden further believes that he is not responsible for any of the inflation of his tenure, and he expresses no concern about his massive deficit spending and debt accumulation.

He simply doesn’t understand: the inflation we are still experiencing has literally been caused by his trillions in deficit spending. And with the national debt now at $36.2 trillion on Joe Biden’s final business day in office, the government is dangerously close to the point of no return.

Without serious budget cuts… without a massive regulatory overhaul… and without a major reset in the way the government does business… the US could quickly slip into a debt spiral.

The federal government already spends 100% of its tax revenue just to pay for mandatory entitlement spending and interest on the debt.

In fact, interest on the debt already exceeds $1 trillion per year, and could easily DOUBLE to more than $2 trillion over the next couple of years.

The incoming administration has an extremely limited window of opportunity to put the economy and government finances back on track. I think they have a good chance, and I’m absolutely rooting for them.

But success is far from certain… and for that reason it still makes so much sense to have a Plan B.

I hope you’ll join us for this discussion in today’s podcast, where we also cover:

• Why interest rates are rising, despite the Federal Reserve’s cuts
• Banks’ HUGE missteps that led to massive unrealized losses in their bond portfolios
• The Federal Reserve’s only option left to bring rates down, and how it will cause inflation
• Trump’s potential to turn things around, and what happens if he fails
• The real reason he’s talking about “Buying Greenland”
• The role of real asset investments in hedging against inflation
• Why real assets will do well no matter what happens next

I encourage you to listen to this super insightful conversation, which is well worth the time to understand where the US is heading.

Source

Simon Black is an international investor, entrepreneur and permanent traveler. His daily letter is both educational and entertaining, and we suggest that those who want unbiased, actionable information about global opportunities sign up for Sovereign Man’s free, actionable newsletter at http://www.SovereignMan.com.

From Simon Black of SovereignMan.com

Source: https://www.schiffsovereign.com/podcast/on-joe-bidens-last-day-the-us-is-dangerously-close-to-the-point-of-no-return-podcast-151986/