In just the month of May, the United States government spent $208 billion that they didn’t have. By stealing from future generations and kicking the ever-heavier can down the road, the government is all but ensuring a dollar collapse.
Washington posted a $208 billion budget deficit in May as a modest increase in revenues failed to make up for higher spending on the military and social welfare programs like Medicare, according to data released on Wednesday by the Treasury Department. The deficit was the highest ever for the month of May and wider than the average forecast of $185.5 billion in a Reuters poll of analysts. Government spending rose to $440 billion, up 21% from May of 2018. Receipts increased to $232 billion, up 7% from the same month last year.
This only proves that Republicans are just as intent upon the destruction of the dollar as Democrats. The U.S. is imploding under the weight of socialist programs and a military that’s gotten far too big and way out of hand. The tariffs provided a modest boost to government coffers as Americans and businesses paid more to comply with the new tax burden. Customs duties were taking in $5 billion during the month, up from $3 billion in May 2018. The Trump administration has raised tariffs on several major trading partners, notably China, and those countries have passed the burden directly onto the backs of the American consumer.
The deficit for the fiscal year to date was $739 billion, compared with $532 billion in the comparable period the year earlier. If things remain, the U.S. government will borrow well over $1 Trillion this year and be the most in the red it has ever been.
In my very humble opinion, the greatest threat to Americans is not some boogeymen overseas; it’s the horrifying fiscal policies of the elitists. These policies are designed to enrich the political elite, demolish the middle class, and impoverish the overall public. All of this recklessness will eventually collapse the U.S. dollar, and the events of such will be the single most substantial affair in human history.
https://www.shtfplan.com/headline-news/peter-schiff-were-not-borrowing-ourselves-rich-were-borrowing-ourselves-broke_03192019
The weakness of the U.S. dollar is primarily that it is a fiat currency just like every other major global currencies, according to Medium. Without the discipline of the gold standard, governments print too much money for political purposes. Although many events could trigger the collapse of the dollar, massive government social programs and the money printing necessary to pay for those programs will likely be what we see…and it’s already beginning.
May’s $208 billion deficit is only the start. It’ll get much worse. If history is any gauge, the Federal Reserve will take to QE4 (quantitative easing 4, a major money printing scheme) to print too much paper money to pay for politicians’ spending programs like Social security, Medicare, defense spending, debt servicing. This will create hyperinflation in the United States and the country will soon resemble Venezuela or the Weimar Republic.
https://www.shtfplan.com/headline-news/crisis-investing-americans-are-not-prepared-for-collapse-of-dollar-there-will-be-riots_02102015
Central planning and banking is the biggest threat to liberty and freedom the world has seen, and it could very well take an all-out crash for Americans to figure that out. Brace yourselves, folks. We could be in for a pretty bumpy ride…
SOUND THE ALARM MAC, WE ARE ALL GOING TO DIE!
yawn, wake me when it’s over already
Seminole Wind +1. This will be the most documented collapse in history yet most have no clue.
“Without the discipline of the gold standard, governments print too much money for political purposes”.
What fu cking idiot thinks gold prices are not also manipulated?
Other than real estate, most everything else is subjectively valued, even though land is “valued”, at least you have something. Some jackwagon up the mountain( Mauka) from me has 5 acres for sale listed at over a million dollars, for raw land. They probably will get the asking price. My 5 acres has a better view. All that a$$ is doing is raising my property taxes.
Who in their right mind thinks Facebook, that produces NOTHING has any value? Millions of idiots do. Outside of industrial uses what good is gold, diamonds, silver, platinum, et al ?
I hope the dollar crashes. I want all the gamblers in stocks, PMs, and rich Democrats to crash and burn.
rellik
I believe the intention to peg dollars to gold reserves is what was meant in the preceding thus fixing its price. The absence of any standard allows unrestricted M1 creation. Of course standard or not Fractional Reserve Banking increases money supply and the other side of it defaulted loans money destruction. Hyperinflation can only happen if the money gets into the spending hands of the masses. So far EQ has roughly equaled the purchasing power destroyed by defaulted loans (and a tad more) thus having relatively low inflation when one considers the enormous QE injections. The Achilles heel is the retention of the USD as reserve currency. One must say that the system is from an ethical standpoint inherently unethical but I grudgingly admit that so far it has functioned far above my uneducated expectations. I would have bet “the farm” in 2008 that by now we would have been in collapse. They’re very good at being very bad.
While I am not pushing for a universal basic income, per se, one possible consequence of pairing currency with time would be to limit inflation. Gold, oil, and whichever commodity fluctuate in quantity, yet time remains constant.
When the day comes, and its rapidly approaching, where machines, robotics / AI displace 90% or thereabouts of the workforce, what occurs when human labor is largely obsolete? Does society morph into a kind, gentle, humanitarian “we are one” or rather a cruel, vicious battle for the remaining scraps? When “labor saving” becomes “no need for labor” then the “too much of a good thing” is reality. How long do we have before the above happens, 2 maybe 5 decades at the longest?
And it NEVER
EVER
gets paid down.
EVER
I invest in Gold because gold does not change its value over years unlike paper currencies. The online dealer I go to is Bullion Exchanges. They offer great prices… the trick is to buy low and sell high. https://bullionexchanges.com/buy-gold
Well what ya expect fron CONgress
The house controls the purse strings,,,
Not like it matters, the whole pile o shit is broken and needs a purge
There is no collapse. Perhaps in four billion years.
Is $ all that important when your starving and people are trying to kill you.
Hows about that ole Trump takin’ on the Fed the way he is? I thought the president didn’t have the power to stop the Fed.
Opps…wait…he’s not tryin’ to stop them. He wants them to double down on what they do best…print more debt out of thin air. Gotta keep those plates spinnin’ and the can rollin’ down the road or it all collapses. Go Trump!
2020 campaign bumper sticker…”Trump. Insane, entertaining, and often right.”
Off Topic: Putin says “U.S. – Russia relations are getting worse” and in another follow-up Fox News statement Putin said, “They are getting worse by the hour.”