I’m far more concerned about the deficit than World War 3 [Podcast]

I can understand why so many people are worried about World War 3 breaking out. It’s a completely rational concern. I just don’t happen to share it.

Why? Because regardless of the debate over whether the US strikes against Iran’s nuclear facilities were a good idea, or a reckless risk of another expensive foreign entanglement, one thing is indisputable: America reminded the world of its immense military capabilities.

There’s not a single adversary nation that wants to risk armed conflict with the US after watching those stealth bombers obliterate their targets.

And the proof is already here: Iran’s foreign minister flew to Moscow seeking military support from Russia… and Putin offered absolutely nothing except for strong words.

This is why I’m more convinced than ever that World War 3 is NOT going to break out over this conflict: no other country wants F-35s or B-2 stealth bombers in their airspace, let alone the 75th Ranger Regiment and ‘Delta Force’ special operators.

There’s now a great deal of debate over the wisdom of the air strikes, including within the President’s own party.

I’m extremely sympathetic to the view that America cannot afford yet another foreign occupation brought on by regime change in the Middle East; it should hardly be controversial to say that a country should avoid pointless and unwinnable conflicts.

At the same time, it should also be uncontroversial to see obvious benefit in ensuring that your sworn enemy does not have nuclear bombs.

As I wrote yesterday, a fairly conservative cost estimate of the air strikes, naval deployment, and assistance to Israeli air defense is around $1 billion. That’s not nothing.

But it’s also clear that the government spends a lot more than that on completely idiotic and pointless programs.

The Bureau of Labor Statistics spends more than $1 billion each year just to publish dubious economic reports that private companies (like ADP) already produce for free… and with greater accuracy. Would anyone rationally argue that the Bureau’s reports are more important than neutralizing a nuclear threat?

Unfortunately I’m not sure anyone in Washington is engaging in this kind of rational cost/benefit analysis… which is why the US has a $36 trillion national debt.

Private businesses and individuals have to make these rational decisions every day about how to allocate scarce resources— primarily time, money, and energy. The government, on the other hand, pretends that it has unlimited, infinite resources.

And this ‘unlimited resource’ mentality is FAR more concerning to me than the prospect of World War 3.

Without a change, the US could easily find itself in an existential financial crisis within the next eight years. I’m not being dramatic.

And in today’s podcast, we explain why and how that’s likely; we discuss:

• Why the Social Security cliff is coming faster than expected—and how even its predicted 2033 insolvency is optimistic.
• How this problem—and the America’s debt addiction— could be solved, if any politician were willing to even address it.
• How the US missed a golden opportunity to refinance its debts at much lower interest rates just four years ago.
• How the US used to be capable of making wise investments— like the Louisiana Purchase or buying Alaska.
• What the looming fiscal crisis means in practical terms for Americans (Spoiler: inflation).
• Why foreign governments and central banks are shifting their reserves away from US dollars and towards strategic assets— not just gold, but platinum, industrial metals and even uranium.
• And why the companies that produce these real assets are remarkably cheap.

CLICK HERE to listen to the podcast.

The podcast transcript is available to you here.

P.S. The clock is ticking—America likely has eight years at most before a financial crisis unleashes runaway inflation.

Foreign central banks know it. They’re dumping dollars and buying gold.

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Source

Simon Black is an international investor, entrepreneur and permanent traveler. His daily letter is both educational and entertaining, and we suggest that those who want unbiased, actionable information about global opportunities sign up for Sovereign Man’s free, actionable newsletter at http://www.SovereignMan.com.

From Simon Black of SovereignMan.com

Source: https://www.schiffsovereign.com/podcast/im-far-more-concerned-about-the-deficit-than-world-war-3-podcast-153033/