U.S. Debt At 102% Of GDP Hits Another Record – Good Time To Buy Gold?
Is it a good time to buy Gold?
- The US budget Deficit grew another $95 billion in July 2014.
- So far, the US borrowed 15.7¢ of every dollar it spent in Fiscal 2014.
- Total US Debt now stands at a record $17.7 trillion or 102% of GDP!
- ECRI’s USFIG (US Future Inflation Gauge) now at a 71-month high.
Despite a US economy slowly on the mend, the US deficit continues to grow as the Federal Reserve continues to keep interest rates artificially low while printing money with “quantitative easing” or QE to buy debt at these low rates. If the Fed doesn’t walk the perfect tightrope to taper its QE then raise rates to head off high inflation, gold and other physical assets could soar. Some think it could already be too late and another bubble is