There's a video being sent around the Internet (and advertised on radio) about the doom predictions of Porter Stansberry and his prescriptions for protecting yourself financially.
The video is here. I'm not endorsing Mr. Stansberry's views. As bad as our debt crisis is, my view of the likely outcome is not as extreme as Stansberry's. And he makes some silly errors, like attributing gasoline being cheaper in the U.S. than elsewhere to the fact that the global oil trade is priced in dollars rather than lower U.S. taxes and a more competitive retail gasoline market. Despite these shortcomings, though, the video is excellent at illustrating the magnitude of our debt problem.
The video is very long. For those who have a short attention span or a busy day, you can access a text version by clicking to the site, then leaving the site (e.g. by typing www.google.com in the browser bar). A warning will pop up about leaving the site, and if you click Cancel, you'll be able to read the text version.
Full text and graphs of Porter Stansberry's End of America video
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Great piece. I will be sharing it. Thanks for taking the time to organize this -- Horemheb will especially be interested.
I like the concept of the "Normalcy Bias". Nice to put a term to what I am surrounded by.
Would actually have more legitimacy if the guy was accepting only gold and silver for everything he is "selling".
Everyone is always doing you a big favor when they are selling you something.
National Inflation Association? The fact that PS is evidently unaware that NIA is shill propaganda from none other than Jonathan Lebed pretty much discredits the entire article.
Alternately, he is aware of it. The script reads like just like a sales pitch.
As a Brit, I must say that as bad as things must seem to you in the US, they are worse in the UK! We have a debt to GDP ratio of over 400% while I've read its closer to 300% in the States. Also, did you know that the Bank of England now owns ONE THIRD of all Gilts (Government debt) outstanding in the UK?! Not sure what it is for the FED, but it can't be that high. So cheer up, its all relative mate:)
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