The Rise In Oil Prices Is Just Starting!

The price of crude oil is closing in on $80 barrel, trading above $79 for the first time in 7 years. But if you look at a chart this move is only just getting started. The parabolic move higher likely won't kick in until we take out $150 per barrel. That might happen as soon as 2022.

Growth Is Slowing Rapidly

Yesterday the Atlanta Fed slashed its forecast for Q3 GDP from 2.3 percent to 1.3 percent. Back in June its forecast for Q3 growth exceeded 7 percent! Growth is slowing rapidly just as consumer prices are rising substantially. Stagflation is already a reality. I dare the Federal Reserve to taper. Buy gold!

The U.S. Has No Ability Or Intention Of Ever Repaying The Debt

The reason a failure to raise the Debt Ceiling will lead to a default on the National Debt is that the U.S. has no ability or intention of ever repaying the debt. It will only borrow to keep the Ponzi scheme going until lenders wise up and dump their Treasuries and U.S. dollars.