I Can Feel It in My Bones…

This is one of the most difficult articles I’ve ever written. It’s from the heart, and I’m worried.

Premonition is defined as, A strong feeling that something (generally unpleasant) is about to happen, “He had a premonition of imminent disaster.”

If an intuitive, imminent, gut-wrenching premonition (fear) grips your mind and body comes true, you will never forget it.

I was 23 when John Kennedy was assassinated. I was upset, couldn’t sleep and visibly shaken. Suspect Lee Harvey Oswald was being transferred to a different jail. The minute the live news came on, my stomach got tight, I felt it in my bones, real fear; something awful was about to happen.

Oswald appeared in handcuffs. I shouted, “NOOOO!” Within seconds all hell broke loose, Jack Ruby jumped into the picture and shot him. I saw the picture play out before my eyes, powerless to do anything about it. I feel those fears whenever I think about it.

While the government explanation seemed reasonable, 60 years later they still keep much of the information from the public, citing “security reasons.” So much for transparency and trust in the government…. I don’t trust any of them, regardless of their political affiliation!

Today’s concern

Chuck Butler recently told us:

“Congress must stop deficit spending; just STOP! A Balanced Budget would do wonders for this mess we’re in, not just today, a responsible Balanced Budget from now till the end of time! That means adult, hard choices; what real leaders do.

…. Dennis, our elected representatives need to be working together. I’ve never seen our government so polarized….”

This week’s reading stack rattled me.

Bill Bonner tells us:

“The federales have lost their minds. The Trump Team went bonkers…with a deficit of $4.2 trillion in 2020…then the Biden Bunch followed up with another $1.4 trillion deficit in 2021.

“Inflation is a quiet but effective way for the government to transfer resources from the people to itself, without raising taxes.” — Thomas Sowell

…. It’s still ‘inflate or die.’ …. The federal government is running the biggest budget deficits in history.

…. The US government has been throwing the biggest shindig in history – spending about $130 billion per week – or nearly 14% more than the year before…and 40% more than before the Covid era blowout.

…. Government spending is headed toward 39% of the US economy. Not since WWII has so much of US output been squandered by the government.”

Polarized? Really?

Some timely quotes come to mind:

“However (political parties) may now and then answer popular ends, they are likely in the course of time and things, to become potent engines, by which cunning, ambitious, and unprincipled men will be enabled to subvert the power of the people and to usurp for themselves the reins of government, destroying afterwards the very engines which have lifted them to unjust dominion.” — George Washington (Farewell Address, Sep. 17, 1796)

“I’ll show you politics in America. Here it is, right here. ‘I think the puppet on the right shares my beliefs.’ ‘I think the puppet on the left is more to my liking.’ ‘Hey, wait a minute, there’s one guy holding both puppets!‘” — Bill Hicks

Tying it all together:

“In politics nothing is accidental. If something happens, be assured it was planned this way.” — Franklin D. Roosevelt

Since our “polarized” politicians increased the debt ceiling, our national debt is already up another trillion, with no end in sight.

All politicians agree that maintaining their political power at the expense of the citizens is their top priority, and they are spending trillions in money we don’t have in order to do so.

Here’s the current tally.

In the first 224 years of our country, the government accumulated just under $6 trillion in debt. Since 2000, our country’s debt has increased over five-fold and is skyrocketing. Interest cost alone will easily surpass a trillion dollars.

Fitch recently downgraded US Debt, which will lead to even higher interest costs.

Reuters reports Treasury Secretary Janet Yellen complained:

“‘Fitch’s decision is puzzling in light of the economic strength we see in the United States,’ Yellen said. ‘I strongly disagree with Fitch’s decision, and I believe it is entirely unwarranted.'”

Remember when Yellen assured us:

“Will I say there will never, ever be another financial crisis? No, probably that would be going too far. But I do think we’re much safer and I hope that it will not [happen] in our lifetimes and I don’t believe it will.” — Former Fed Chairperson Janet Yellen

When it comes to Yellen, a picture is worth 1000 words. She is a typical politician trying to cover for the continual government misdeeds – caused by all political parties who have willingly put us in this huge mess.

“Inflate or die”

Charles C. sends an article by the American Institute for Economic Research, The Fed Hits 3,000 Percent Inflation. They report:

“US inflation was not always as persistently high as it has been under the Fed. Before the Fed, the purchasing power of the dollar was determined by supply of and demand for gold. Consequently, the purchasing power of the dollar was relatively stable.

…. After a brief turmoil during the American Revolutionary War, the price level was about the same in 1784 as it was in 1914.

That’s approximately zero percent inflation over 130 years compared to 3,000 percent inflation in less than 110 years under the Fed.”

Like our escalating debt, could we see another 3000% (or more) inflationary increase in just a few years?

Remember, inflation is NOT an act of God, it is a government policy!

It’s no wonder friend Chuck Butler always asks, “Got Gold?”

Matthew Piepenburg writes:

“What is Happening All About You? A Complete Denial of Debt’s End-Game

As headlines from an increasingly distrusted 4th Estate debate…most of America seems blind to a ticking time bomb.

…. Amidst all the political and social distractions of late, the financial wizards leading an increasingly splintered America, have been quietly doing what they do best: Sending the USA into a fatal debt spiral.

…. In fact, debt destroys nations. And not just sometimes, but every time.

Such destruction, hiding in plain sight, is creepy, because, well…it creeps up on us slowly, and then — all at once.

Fighting Inflation Will Increase Inflation

Powell’s comical, and ultimately disingenuous, war on inflation, for example, is actually poised to end in far greater inflation.

…. When a debt-strapped nation with nearly $33T in public debt raises rates to ‘fight’ inflation, the increased cost of servicing that debt becomes so egregious that the only way to ‘pay’ for it will come from a re-ignited mouse-click money-maker at the Fed, which is inherently, well: Inflationary.

…. At some point (and don’t ask me when, but it’s looming), the Fed will pivot from dis-inflationary QT to mega-inflationary QE—all to be conveniently blamed on COVID, Putin and/or the climate.

…. At that point we’ll see:

1) QE to the moon and/or

2) a monetary re-set that will make Bretton Woods look like a pleasant game of international snooker.”

Expert John Mauldin warns:

“A great civilization is not conquered from without until it has destroyed itself from within.” — Ariel Durant

“Every Fourth Turning ends in a dramatic crisis. It’s not just a hold-your-breath moment where we watch to see what happens. It develops over a few decades and then climaxes over a few years. Nothing is off limits. Everything we consider foundational to society is at stake. Some of it doesn’t survive.”

Quoting Neil Howe, he continues:

“Public benefits will also be overhauled. Entering prior Crisis eras, government spending on benefits to the nonindigent was minimal. This time, it is massive—and it flows mostly to the elderly….

Retirement ages will be raised, and benefits may get fully taxed or means tested. Most importantly, health benefits will be subjected to radical changes—possibly converting today’s extravagant and dysfunctional fee-for-service labyrinth into a simple capitated allowance. Doctors and hospitals, for the first time, will work within fixed budgets.”

John concludes:

“That last part is going to hurt, but there’s simply no way to resolve the debt without radical healthcare reform. It is a giant part of the debt.”

Desperate politicians resort to desperate measures. I’m concerned they will force digital currency and government control into the system. Not only do citizens lose all their privacy, some countries are already penalizing them for not spending in a politically correct manner.

The censorship Gods at Facebook have nailed me a couple of times for publishing accurate, non-partisan government criticism.

At a recent conference, pundit Rick Rule was asked who you can rely on? He said, “No one but yourself and your family. You can’t save society, but you can save yourself.”

Owning real assets, and gold, outside of the financial network may be the best option for wealth protection.

When you blend the current Trump legal issues with the negative drumbeat about the Biden shenanigans and this FDR quote, “Presidents are selected, not elected”, something smells fishy to me. Might all this be planned?

John’s comments rekindled the knot in my stomach; something bad is gonna happen, it’s just a matter of when; I can feel it in my bones….

I told my wife Jo; I feel powerless to do anything. Peering over the top of her glasses, with her nursing tone of voice she said, “Honey, calm down, it’s just your arthritis!”

Boy, I sure hope she is right!

A little help means a lot! Eight years ago, I vowed to keep our newsletter FREE! I plan to keep my promise. It’s an expensive, time-consuming hobby, but also a labor of love. Recently a reader asked why I didn’t charge for our weekly letter. I explained that I want it available for everyone. Some readers may be on limited budgets and may benefit the most from our advice. He pressed on with his questions. How much does your letter cost? How many readers do you have? He concluded, “If each reader paid $10/year, you would be fine. I responded, “Yes, $10 per reader would work, BUT I am committed to keeping it FREE even if it costs me money.” Several readers suggested we add a donations button to help us offset the cost of our publication. It helps when people pitch in and we certainly appreciate it. If readers want to donate, it sure helps out, however, it’s strictly voluntary – no pressure – no hassle! Click the DONATE button below if you’d like to help. You do not have to sign up for PayPal to use your credit card. And thank you all!

On The Lighter Side

Grandson Braidyn went off for college last week. A wonderful milestone for him and the entire family. I overheard him and his dad discussing finances and budgets; remembering similar discussions we had with our children decades ago.

A common saying in my youth, when a boy left home was, “He left home a boy and returned a man.” All the family core values, work ethic, and life lessons are put into play. It’s not always a smooth transition, but a fun process to watch. I look forward to the next few years, it will be fun.

Quote of the week…

“Until the work of the Kennedy assassins is undone, Presidents will come and go…but the warfare machine and its extensive intelligence tentacles, domestic as well as foreign, will remain in control. The assassination reduced the President of the United States to a transient official, a servant of the warfare conglomerate. His assignment is to speak as often as possible about the nation’s desire for peace, while he serves as a business agent with Congress for the military and their hardware manufacturers.” — New Orleans District Attorney Jim Garrison. “A Heritage of Stone” – 1970

And Finally…

Life long friend Tom G. shares some political quotes for us this week:

• Politicians are people who, when they see light at the end of the tunnel, go out and buy some more tunnel. — John Quinton, American actor/writer

• Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. — Oscar Ameringer, “the Mark Twain of American Socialism.”

• Politicians are the same all over. They promise to build a bridge even where there is no river.— Nikita Khrushchev

• Suppose you were an idiot. And suppose you were a member of Government. But then I repeat myself. — Mark Twain

• I don’t make jokes. I just watch the Government and report the facts! — Will Rogers

• I contend that for a nation to try and tax itself into prosperity, is like a man standing in a bucket and trying to lift himself up by the handle. — Winston Churchill

• A Government which robs Peter to pay Paul, can always depend on the support of Paul! — Will Rogers

And my favorite:

• The problem we face today is because the people that work for a living are outnumbered by those who vote for a living. — George Bernard Shaw

Until next time…

Dennis Miller

“Economic independence is the foundation of the only sort of freedom worth a damn.” – H. L. Mencken

 

Affiliate Link Disclosure – This post contains affiliate links. If you make a purchase after clicking these links, we will earn a commission that goes to help keep Miller on the Money running. Thank you for your support!