As a general rule, the most successful man in life is the man who has the best information
by Richard (Rick) Mills
Ahead of the Herd
Whether it’s a Democrat or a Republican installed in the White House this November, you can count on fiscal discipline going out the window. Neither the incumbent, President Donald J. Trump, nor the leading Democratic contender to replace him, Bernie Sanders, appears to give a hoot about shoveling more onto the enormous pile of debt that a few months ago shot past $23 trillion.
Why does this matter? Because debt impedes economic growth . And just like a business, if a country isn’t growing, it’s dying.
Keep that in mind as we explain how the real problem with the US economy, and what is driving gold prices ever higher, is not the coronavirus (though Covid-19 is certainly making things worse), but the 500-pound debt gorilla that is sitting on Uncle Sam’s chest, fattened by an all-you-can-eat buffet of dollar-denominated debt.