Dear Reader,
Since launching my new documentary this week, Midnight in America…
A lot of you have watched it and written in to talk about debt. You’re as concerned as I am.
If you haven’t seen it yet, watch it here: Now Streaming: Midnight in America.
My readers are trying to understand how this country just blew apart all financial constraint.
Naturally, the answer comes down to politics. I explain in today’s 7-minute video.
I’m aware I’m coming to you with these warnings as the stock market’s at all-time highs.
But stocks have been rising in large part due to massive fiscal stimulus …
See, Biden backloaded a lot of stimulus to hit toward the end of his presidency.
This isn’t unique – they all do this. This game has been going since ancient Rome and Greece.
But now we are spending a Trillion dollars every 100 days!
And running deficits bigger than the entire budget under Clinton.
How did we get here?
I lay it all out here.
In the early 2000s democrats popularized MMT – Modern Monetary Theory – which purports we can borrow as much as we want and it doesn’t matter – as long we use it for things like a federal jobs guarantee, Medicare, free education and clean energy for all.
Not a good idea in the long-term. It matters at some point.
And now the rampant missteps are coming home to roost.
See, presidents ask for money when we are in crisis.
The housing crisis… the Covid crisis…
But never have we spent like this in an economy that was doing this well.
It’s gotten so crazy, one of the early proponents of MMT just came out and said, “We’re spending like drunken sailors!”
We are running into a balance sheet problem.
And when you have a balance sheet problem like we’re staring down the barrel of…
And crisis hits…
The government won’t be able to write checks without triggering massive inflation.
I’ve been preparing my readers for what’s to come. We’ve sold a record number of stocks this year (for record average gains).
And I’ve put together my Bear Market Playbook – available right now to viewers of Midnight in America.
You can start your four-step preparation today when you watch it here.
“The Buck Stops Here”
P.S. If you’ve already watched Midnight in America, hit reply and let me know what you think. Are you as concerned as I am?