Doug Casey joined me yesterday to discuss his relief that Que Mala didn’t win the election, some positive policies announced by Trump, and to respond to critical comments from viewers.
We watch Trump's latest policy videos on education and gender. Solid moves, but Doug says there is no policy to address the core problem: We're sitting on $36 trillion in official debt and over $200 trillion in total obligations. The math simply doesn't work anymore.
There is a growing recognition of this problem within the bond market. The Chinese 10-year bond now trades at half the yield of US Treasuries - do global markets trust China more than America?
Inflation or deflation or both are coming. And we get into why both inflation and deflation are losing scenarios for average Americans.
Doug makes a compelling case for why defaulting on the national debt might actually be the most moral choice - even though it would devastate pensions and destroy wealth through massive deflation. As he puts it, "We're watching a horror movie where you think the monster is dead, but it always comes back."
The good news? Doug's timeline for economic collapse just shifted from "possibly tomorrow" to "six months or maybe a couple of years." The bad news? When it hits, it will make 2008 look like a warm-up.
We cover a lot of ground, from practical issues with mass deportation to why Trump's potential tariffs could trigger a global depression worse than the 1930s. If you want to understand what's really at stake beyond the headlines, this episode lays it out.
Time stamps (from Youtube)
00:00 Introduction and Election Reflections
01:43 Comparing Elections: US vs Argentina
04:12 Economic Challenges in Argentina
08:30 Trump's Policy Videos
22:03 Debating US Political Landscape
33:54 The Ingrained Socialism in America
35:29 The Value of Individualism
37:02 Challenges of Deportation and Repatriation
41:31 The Role of Government and Bureaucracy
42:29 Economic Policies and Global Impact
44:34 Interest Rates and National Debt
49:52 The Case for Defaulting on National Debt
55:44 Potential Economic Collapse Scenarios
58:20 Concluding Thoughts and Future Outlook
It is evident that you have actually read the books in your bookcase, Mr. Smith. In my direct experience, the number of Americans who either do not read or rarely read is a big problem. I cannot even count the number of people who choose not to read but are tethered to their cell phones. I just walked the dog and considered what makes you and Mr. Casey different, along with a few other people I tend to listen to for updates on what is going on in America and the world at large. You all are readers or writers.
I wish there were more intelligent people who could hold conversations such as you two have in this installment. I love the use of the word responsibility. Thanks for this.
He might get hooverized this time
Doug, you are absolutely right about Social
Security! Those of us who are on it early because of reasons of widowhood, or illness, wish we had not invested in the government system quite so much. We believed in it, and were sold a bill of goods. We are not "stupid". We just trusted. No one knows what the future holds. I was never taught finances in the home as a child, and never encouraged to invest. Thank God I have savings, and am finally starting to invest in later years. During Lyndon Johnson as President; money was moved out of Social Security; and now it is being moved out of Medicare to pay for Biden's "Green Agenda". Trump, if anything, has shown the American people just how crooked our government has become. Thank you and Matt for the great commentary and podcasts!
The government is the problem. You can't fix the problem with more of the problem. Unlike Americans, I know the type that have been imported into the USA by the plane and truck load. These are the gangbangers. They are mercenaries brought in on purpose to destroy what is left (of the country). They are not refugees. I am a refugee. These people are going to kill and destroy anyone (including innocents) who tries to deport them. That is why they are on the USA payroll.
I will listen to Doug Casey any time any where . He has a broad, tough, no nonsense view. I have entirely given up on the ludicrous Gold Spruikers > you know Gold will go up 3500% and Silver $200 next week, rinse and repeat - rinse and repeat > from junk channels like Money Sense and Soar Financially