US’s Debt Not Such a Big Deal -Mr. Gold

Jon Economy, Fiscal Policies, Gold, Government, Market Commentary, Politics, Precious Metals

[edit] Mr. Gold’s last paragraph is the tell on his bias, as he is unwilling or unable to conceal the contempt he has for people who were absolutely right for 10 years and are now suffering a bear market, both to their asset of choice and in sound monetary thinking.
‘The vastly improved fiscal situation may last only a few years, but it’s a big plus for U. S. markets and the U. S. dollar – and another nail in the coffin for the gold bugs and doom-and-gloomers who can add one more item to the long list of things they got really, really wrong.’
Why the US’s Debt is No Longer Such a Big Deal -Howard Gold writing at MarketWatch
Before we find out about Howard’s thoughts on the debt situation (I am only going by the headline right now) let’s divide the GDP by the Federal Debt. This is a view of a deluded nation going right down a sink hole in service to greed and denial.
Now let’s see what Mr. Gold (not the discredited and now strangely silent ‘gold bug’ Mr. Gold) has to say in regard to ‘the US debt is no longer such a big deal’.
Shhh! Don’t tell anyone, but over the past couple of years, the U. S.’s debt burden, the big issue that swept Tea Party-led Republicans into control of the House of Representatives in 2010, has quietly improved.
Obligatory political baiting opens the article. Politics and financial markets never mix. Major political parties argue over certain details as favors their constituencies, but they are the two heads on the same freakish animal.

This post was published at GoldSeek on 4 December 2014.