U.S. Government Debt Crosses $19 Trillion

The U.S. government now owes over 19 trillion dollars. Since Obama took office, the national debt has grown by $8.4 trillion and the Federal Reserve has printed over $3 trillion. Unfunded liabilities have continued to mushroom to unimaginable levels while real incomes have tread water and the average American earns 0% on their savings.

Hopefully when the next crisis comes we will learn from our mistakes, but I can assure you the same medicine applied previously (additional debt and printed money) will only be applied again on a much greater scale. Eventually the debt super cycle will have finally run its course, and the entire monetary system will begin to break down. The world will certainly not end, but many people will look back and wonder why they didn't purchase precious metals when they were deeply discounted and the most hated asset on the planet.