Thoughts from the Frontline

The Bankrupting of America

By John Mauldin

June 6, 2003

The Bankruptcy of America
And the Number Is?
Where are the Profits?
Inflation and the Fall of the Dollar
Meet me in New York and San Francisco

Today we have a guest writer for Thoughts From the Frontline, as I am in Puerto Vallarta sipping margaritas by the beach. I asked my friend, Porter Stansberry, to give us his take on the recent (and very important) study which shows the US government is $44 trillion dollars in debt. I think you will like his easy reading style, even if the analysis is sobering. Then, to end on an upbeat note, I asked him to give you a free link to a recent study by David Lashmet, one of his analysts from the Pirate Investor, on new cancer treatment breakthroughs just announced last week at an industry meeting. We have all lost friends to cancer. There is real hope we may lose fewer in the near future. Now let's read Porter's thoughts:

The Bankruptcy of America
By Porter Stansberry

"There's nothing unprecedented about interest rates beginning with the numbers 1,2 or 3. They were the rule rather than the exception in the days of the gold standard. But, as far as I know, no rates such as those quoted today ever appeared in a monetary system unballasted by gold or silver."
-- James Grant, Forbes 6/9/2003

America is bankrupt.

…

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