The national debt in the U.S. is going to explode higher during a Trump Administration. My prediction is that by the end of Trump’s first term, the national debt will be more than $23 trillion. It took 240 years to build up the first half of our debt. Democrats and President Obama doubled that in just 8 years. Folks, that’s the national debt going parabolic.
Growing debt is not just a problem for the US. It’s much bigger than the US, it’s global. This global debt problem is set to explode higher moving forward.
Gregory Mannarino has not done so well with this perma-gold bets. Nevertheless, his thoughts on the global debt crisis are excellent IMO.
Joe Biliello wrote to Gregory Mannarino saying, “I’m getting antsy sitting on my Gold & Silver, sometimes I think about just selling it and buying an RV and going on a road trip, or a Testarossa and playing Tony Montana for a while……what should I do? How long will I have to sit on this stuff before I can enjoy a little of life before I croak? I’ve stocked up to such a degree that I have to draft a will to make sure what I have will be properly distributed if I die. I often think about liquidating it all and just enjoying myself.”
It sounds like Joe got so motivated by the national debt problem that he put everything he has into gold. Never invest more than 5% of your portfolio in gold.