So it’s about noon here in Aspen and it “appears” that a debt deal has finally been struck between the Elephants and the Donkeys.
Yippee? Hurray? Or something else….?
Not so much. Even if it passes Senate approval today, it’s made of 100% Grade-A ***.
Here’s the deal… America will officially max out its credit card today, unable to pay its bills unless the credit limit on that card is increased.
Normally, a REAL business would do two things if they found themselves in this position…
1: Drastically cut spending in dramatic and meaningful ways… Typically that includes firing employees, closing down locations, halting future development, etc…
2: Fire the leadership team who put the company in that position.
And that’s exactly what America should be doing…
But here’s what just happened, and it's much worse than you thought…
In order to justify increasing the debt limit, and therefore placing the US deeper into bankruptcy, Washington didn’t make ANY real spending cuts… All they did was promise to spend LESS than they were planning to spend in the future…
“Dear Americans, as your responsible leaders working to solve the debt crisis we have placed upon you, we promise to increase the amount of debt you and your kids will owe by just $2 Trillion, instead of the planned $4 Trillion… But that’s only if things go as planned. If something important comes up like another war, or if Air Force One needs a new $500,000 toilet, we reserve the right to spend whatever we want…”
Oh… And one more thing… As a part of this grand debt deal, we’re including some legislation that creates a “special committee”, which will be able to circumvent all normal democratic principles. Any issue related to the budget or tax-cutting cannot be debated or amended by the rest of Congress or the Senate to ensure quick and decisive action in the future. Don’t worry about that “voting” thing any more. We know it’s always been a big inconvenience for you, so we’re just going to forget about the whole unnecessary process…” – Your loving Congress
Ahhhh…. Can you smell the Constitution burning my Amerikan comrades?
The bottom line is that this “debt deal” pushed the problem down the road another 12 months, making it even bigger in the process.
Some have said that “this changes everything… The “fundamentals” are shifting toward responsible spending, and it's a step in the right direction.”
Nothing could be further from the truth.
America, and the rest of the world, will soon have it's day with destiny when the entire system implodes and resets, just as it has hundreds of times before…
“The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance.” Cicero ~55 BC
Sound familiar? That's what they were saying 2066 years ago!
But you still have a choice.
You do NOT have to go down with the ship. The ignorance, arrogance, and greed of our leadership is creating the biggest opportunity to create personal wealth that you or I will ever see in our lifetimes – as long as you know how to position yourself and your assets. (You can click here to see what I'm doing).
And if you REALLY want to understand what this “debt deal” is all about, have your eye’s opened, and your world rocked forever, check out this short five minute video… While I’ve understood the mechanics of debt, this video has given me the most profound change of context I’ve experienced since the inception of The Elevation Group…
Pass it on and wake them up…
Sincerely,
Mike Dillard
