Last month, the MSM was abuzz over the potentially CATASTROPHIC “fiscal cliff” conundrum. During the first debt ceiling debacle – in Summer 2011 – Congress successfully “kicked the can” past the 2012 elections with the Budget Control Act, an economically LETHAL dose of spending cuts scheduled to go into effect in January 201. Sadly, said spending cuts – even when coupled with simultaneous expiration of the “Bush tax cuts” – would still not make a significant dent in spiraling U.S. deficits and debt.
Contrary to Congress’ prayers, 2013 did in fact arrive – yielding the need to address this GARGANTUAN pink elephant threatening to stomp the last glimmer of hope of an actual economic “recovery.”
Thus, with the maximum amount of sentiment-destroying bipartisan drama, Congress weaseled its way to an eleventh hour “deal” – barely avoiding going “off the cliff.” Essentially, ALL the aforementioned spending cuts were delayed by two months, while NEARLY ALL the Bush Tax cuts were left in place. In the end game, ONLY the ultra-rich will have to fork over higher income taxes – which ultimately, will reduce government tax revenues and private sector job creation; while the ENTIRE POPULATION will pay 2% more due to the untouched expiration of the payroll tax cut.
Since summer 2011, the global economy has dramatically declined – across the board. However, government MONEY PRINTING, MARKET MANIPULATION, and PROPAGANDA – accelerated to spiritual levels – has given the false perception of a “recovery”; despite ALL empirical evidence suggesting otherwise. Whether it’s the “President’s Working Group on Financial Markets” supporting the stock market, the Fed supporting Treasury and mortgage bonds with “QE,” or the suppressive efforts of the Gold Cartel; the government has its hand in ALL pies; poisoning ALL it touches.
As the January 1st “fiscal cliff deal” did NOTHING to address the issues the Budget Control Act was created to tackle, PM prices and interest rates should have EXPLODED in its aftermath. Both have since moved upward, but in scope have been minimal care of the aforementioned government interventions; not the least of which, has been the PPT generating a prototypical “DEAD RINGER” support algorithm for the “DOW JONES PROPAGANDA AVERAGE” essentially EVERY day.
However, now that the deal’s “afterglow” has subsided – and Obama’s inauguration is in the rear view mirror – it’s time to PAY THE PIPER. Economic data – worldwide – continues to soften; but once again, the new “fiscal cliff deadline” is coming upon us. March 1st is barely a month away, and EVERYTHING that wasn’t dealt with on January 1st must be addressed – NOW!
Already, Congress is commencing the same, playground-level bickering, spin, and PROPAGANDA we saw in December; with the Republicans wasting time with their “no debt ceiling without a budget” platform, while Obama arrogantly says he won’t even discuss the notion of maintaining the current, $16.394 TRILLION debt ceiling – despite Congressional approval being mandated by the Constitution.
As noted above, said spending cuts – engendering MASSIVE layoffs and entitlement reductions across the entire economy – would be the equivalent of injecting a LETHAL dose of arsenic into America. Yet, if Congress “kicks the can” again by delaying the cuts, it will likely yield credit rating debt downgrades, surging interest rates, and a plunging dollar.
And again, the SADDEST part of all is that even if the spending “sequester” does in fact hit America full force; it not only won’t dent the deficit, but will probably WORSEN it – as tax revenues collapse amidst the resultant economic CONFLAGRATION.
As in summer 2011, Precious Metal prices would likely EXPLODE; and keep in mind, silver is already in shortage as I write – before this potentially CATASTROPHIC crisis even begins…
Thus, I ask you, do you expect a “(FISCAL) DEAL OR NO DEAL?”
PROTECT YOURSELF, and do it NOW!
Call Miles Franklin at 800-822-8080, and talk to one of our brokers. Through industry-leading customer service and competitive pricing, we aim to EARN your business.