U.S. Debt Bubble Grows as Budget Deficit Hits $1 Trillion.
In this report, I cover the early market action from London on Friday, September 13th, 2019. I look briefly at the precious metals, the stock market, the dollar, the bond market and the price of WTI and Brent crude oil.
Today I look at the reports coming out yesterday about how the U.S. Treasury has run a budget deficit of over $1 trillion in the current fiscal year which ends on September 30th. I point out that the accumulated deficits over the years become the national debt and how that the debt is not expected to shrink anytime soon.
With that in mind, I recommend a great fiction book by Lionel Shriver entitled "The Mandibles" [ A Family 2029-2047]. Lionel Shriver writes a great fiction book about what could happen in the United States as a result of the fiscal policies Uncle Sam has been running for well over 50 years now. I highly recommend the book.
My conclusion for the day is that the U.S. and the dollar might have been able to cope with never-ending deficits and increasing debts for now but that eventually reality kicks in and one needs to be aware of this and do the best he or she can to protect themselves and their families.
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