MANY LURKING RISKS
Credit: Gemini Our posts have regularly warned that worldwide government fiscal profligacy will lead to severe financial risks for workers, savers, investors and retirees and could trigger serious social unrest. These and other risks, including military, continue to multiply in number and expand in scope. Recent events should have caused the klaxons to sound loudly but the political and media worlds have worked diligently to silence them - to your detriment. Where to start? A notable bit of news is that the US government has now amassed $40 trillion in debt ($30T owed to "the public", meaning banks, insurers, investors, pension funds, foreign governments and investors and another $10 trillion of "inter-governmental" debt owed to US government agencies including the Social Security and Medicare funds, and government pension programs). This debt has risen an astonishing $17 trillion in last six and a half years. It took the US government 192 years...