It seems that everybody is getting excited and celebrating the fact that the Dow Jones Industrial Avg. has hit the 20,000 mark, but more importantly (and much more serious than the Dow surpassing the 20K plateau) is the fact that the U.S. national debt is very close to hitting the $20 trillion dollar mark.
In fact, economist Michael Pento, of Pento Portfolio Strategies told CNBC this week that the $20 trillion dollar debt mark for the U.S. is a very serious issue.
“Pento is an economist and a so-called: “debt-watcher” and has been predicting a bond market crash that would come with a collapse in demand, and the weight of eventually rising rates, that will push-up the cost to finance American debt.” -CNBC
Debt nearly doubled under former President Barack Obama, (from $10.6 trillion to $19.9 trillion by the time he left office) and although he’s only been in office for a very short time President Donald Trump has seen the debt rise another $2 billion dollars.
Crash Proof Retirement® has interviewed one of the world’s leading economic forecasters, and best selling author: Harry Dent. Harry Dent predicted the late 90’s economic boom and the crash of 2008, and during an exclusive interview on the Crash Proof Retirement® radio show, was asked by Phil Cannella (Founder of Crash Proof Retirement®) and Joann Small (President & CEO of Crash Proof Retirement®) about the debt crisis and why bailouts won’t work. Watch below.
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See what you’ll learn at a Crash Proof Retirement® Educational Event. Watch below.