Do not bet against the US Consumer 200820
August 20, 2020
Emailed to The United Nations, Fed Chair Jay Powell, St Louis Fed President James Bullard, Minneapolis Fed President Neel Kashkari, Dallas Fed President Robert Kaplan, Congressman Van Taylor, Congressman Colin Allred, Senator John Cornyn, Senator Ted Cruz, The U.S. SEC, and NYT/WSJ/WP/DMN/CNBC on 8/21/20.
I hear a constant chorus of experts on TV say, “Do not bet against the US Consumer”! They seem to be surprised that the US consumer just keeps on spending!
This should not be a surprise since the corrupt U.S. Government is printing an infinite amount of counterfeit money so the US consumer can keep on spending. The corrupt U.S. Government is borrowing money from the future Americans, money the future Americans do not have, so the US consumer can just keep on spending.
This is why these same TV experts say the U.S. economy is a consumer led economy! When the corrupt U.S. Government prints an infinite amount of counterfeit money, the US consumer can buy an infinite amount of stuff! The reason the U.S. economy appears to be a consumer led economy is because the U.S. economy is a consumer led economy with the corrupt U.S. Government providing the counterfeit money!
The corrupt US Government has, over the last 51 years, borrowed $153.9 Trillion from the future Americans with GAAP basis deficit spending so the US consumer can keep on spending.
The amount borrowed from the future Americans is reported on www.usdebtclock.org as US Unfunded Liabilities (GAAP). The US Consumer can just keep on spending as long as the corrupt U.S. Government keeps on fraudulently borrowing counterfeit money from the future Americans!
The U.S. Government is corrupt!
|US National Debt
|Cash Deficit in FY2020
|*GAAP Deficit in FY2020
|US Unfunded Future Liabilities
|US Unfunded Liabilities (GAAP)
|US Total National Assets
Source: www.usdebtclock.org August 20, 2020
*usdebtclock.org has stopped explicitly reporting the GAAP Deficit. The GAAP Deficit is implicitly reported as the change in US Unfunded Liabilities (GAAP). US Unfunded Liabilities (GAAP) were $126.1 Trillion on October 1, 2019 the start date for FY2020, therefore the GAAP Deficit in FY2020 will be >$27.8 Trillion (>$153.9T-$126.1T = >$27.8T).
I have written two websites (www.usaponzi.net and www.usaponzi.com) and eight books that explain this accounting fraud and the impact it is having on Planet Earth. My latest book (USAPonziE) is available on Amazon and can be downloaded from my www.usaponzi.net website.
This is the biggest ($153.9 Trillion) financial fraud ever perpetrated, I call it “USAPonzi: The Great American Fraud” and “The Biggest Ponzi Scheme on the Planet”!
John W. White