In an article dated 13 December 2022, former Presidential candidate and retired Congressional Representative Ron Paul noted some very concerning statistics.
He said the reason the Federal Reserve cannot raise the interest rates to what they would be in a free market it the government would have a difficult time managing the federal debt.
Some stats which back this up are as follows:
the Congressional Budget Office (CBO) 40% of the federal budget will be used to pat interest (just the interest) on the debt 2052.
The CBO also noted the service on the national debt will be larger than the defense budget by 2029! Raising the interest rates by even a small amount can raise annual interest rate payments by billions of dollars.
In addition, the Social Security “Trust Fund” will begin to run deficits by 2035
Secondly, the Medicare Trust Fund will run deficits by 2028.
As I stated before, raising the interest rate to the level needed to combat inflation would impose hardships on individuals and businesses while raising federal interest payments to unsustainable levels. The result would cause a major economic crisis and a government default on its debt.
This crisis will bring about social unrest and violence as well as demands for the government to step in to ‘fix’ these things. Obviously, government ‘fixes’ would reduce civil liberties and increase government control of our economy.
“The only bright spot is this crisis will also fuel interest in the ideas of liberty and could even help bring about a return to limited, constitutional government, free markets, individual liberty, and a foreign policy of peaceful trade with all.
“Those of us who know the truth have two responsibilities. The first is to make the necessary plans to ensure our families can survive the forthcoming turmoil. The second is to do all we can to introduce as many people as possible to the ideas of liberty.”
Did you catch what Ron said?
MAKE NECESSARY PLANS TO ENSURE OUR FAMILIES CAN SURVIVE THE FORTHCOMING TURMOIL.
Which is what my book, Prospering in a Socialist Society, is all about. Prospering is not a one-person job as one person prospering while others are suffering just to feed and clothe themselves isn’t prospering.
Prospering is a communal activity, as no one lives in a vacuum.
This means your extended family members and friends need to get their own copy of the book so everyone is working to prosper from the same guidebook.
Again my upcoming book will be available at https://TedLeithart.com Sign up for to my email list and get the entire last chapter for free (Not even a cost to ship). This chapter details how to turn this Titanic of a world around, with no elections or insurrections or revolutions necessary.
Go there NOW!!
