The US Is Running $3 Trillion Deficits Atop A $27 Trillion Debt Mountain

Joe Biden was sworn in as the 46th President of the United States yesterday.

He is inheriting a US debt mountain of over $27 trillion in debt. Indeed, the US has a Debt to GDP ratio of 130%. By way of perspective, this is where Greece was when it blew up in 2010.

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Biden’s solution to this issue is to issue even MORE debt via what will be one of, if not THE largest fiscal stimulus in history. He has already proposed:

1)    A new stimulus program of $2 trillion.

2)    An infrastructure program of $2+ trillion.

Beyond this, Janet Yellen, his Treasury Secretary has stated that she believes Climate Change is an “existential threat” and will use policy to fight it.

This means even MORE money printing and credit issuance.

And this is at a time when the US is already running a $3 trillion deficit.

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All of this is going to unleash an inflationary storm. 

Gold has already figured this out. Other inflationary assets are not far behind.

At the end of the day, this isn’t an attack on Joe Biden or the Democrats. The COVID-19 pandemic has revealed that policymakers will deal with any and all issues going forward by PRINTING MONEY.

The fact the US is doing this at a time when it is perched atop the largest debt mountain in history will only accelerate things.

After all, with this much debt, there is no way on earth the US can pay it off. INFLATING it away is the only answer. Which is why I believe the Biden administration is going to make the already debt-crazed Trump administration look like amateurs when it comes to money printing.

Those investors who are well positioned to profit from it could see literal fortunes.

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