Bank of America Warns Of US Economic Disaster As US Debt Reaches All-Time High
The Congress of the United States has spent so much money that our national debt is now $35.73 TRILLION, which is up half-a-TRILLION dollars in three weeks… WEEKS!
Like a Trillion $ every 3 months plus handouts to illegals, students, and Ukraine.
They are Bankrupting the entire nation - deliberately. Election Day is next month. Unless the American people oust these elected officials, there won't be a country left.
The answer, according to Bank of America’s latest report, is simple. Gold is now the ultimate safe bet. The metal has already shot up more than 30% this year thanks to a variety of factors.
Interest rates are falling, central banks are buying up gold like it’s going out of style, and U.S. retail investors are jumping on the bandwagon. It’s a gold party all over.
The debt situation has gotten so bad that neither of the two leading US presidential candidates (Kamala Harris and Donald Trump) has a plan to fix it. Certainly not one they’ve shared with the public.
Bank of America has set a price target of $3,000 for gold.
But even with the US debt now exceeding 120% of GDP, gold’s volatility makes it unlikely to fully replace Treasury bonds in the minds of most investors.
JP Morgan is warning investors against overreacting to gold’s perceived potential. The bank’s analysts wrote that: “The most likely scenario for the next few years is the status quo: Deficits remain wide, and debt levels continue to rise.”
Looking ahead, economists expect the debt to hit $50 trillion by the end of the decade if nothing changes. They also predict annual deficits will top $2 trillion and could reach nearly $2.9 trillion by 2034. Have no doubt, this will bankrupt workers, consumers and taxpayers. No one will be able to afford living as they do today unless they are extremely rich and/or very well prepared for this outcome!
https://www.mitrade.com/insights/news/live-news/article-3-418622-20241018
https://halturnerradioshow.com/index.php/news-selections/national-news/u-s-debt-up-half-a-trillion-in-3-weeks