Politicians talk about a $37 trillion debt
when in actuality the true federal GAAP debt is over 3 times that amount
using a 7% discount factor.
According to Treasury's own documents as of September 30, 2024,
the potential GAAP debt was in excess of $220 trillion.
When the economy is running less than $25
trillion yearly, it does not take an idiot to see the eventual
problem. As Minsky said, it only takes one grain of sand ...
It is not surprising to me that Trump and
Musk wonder if there is any encumbered gold left in Fort Knox.
The
movements of physical gold from London and into China, Japan and
India the last few months must be concerning to the London gold
exchange.
Although the market has not fallen into correction yet, our screens are finding very few quality
stocks. We have liquidated our trading portfolio this week and are
now in cash.
Remember -- "Only purchasing power counts!"
By any reasonable measure, this market is
dangerous.
Be careful ....
To review the latest FlowChart, click
here.
