MARKET BRIEFING
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Renowned hedge-fund manager Ray Dalio...
They see protesters waving the flags of genocidal terrorist groups like Hamas and never once stop and wonder what their role was in promoting that kind of violence. But I know you and anyone reading today realize that all the social problems we’re seeing today are actually the result of core economic problems at the root of our country. This accelerating cultural decline in America is a direct result of the disastrous monetary policies of our country over the past half century. It’s really simple. If people can’t earn an honest wage by going to work and doing an honest job because all of those gains to productivity keep being printed away by the Federal Reserve, then they’re not going to believe in the social contract that underlies the integrity of our country. It’d be nice if none of that had happened, but seeing this continue, I’m very worried that America is heading off a financial cliff. And mark my words, America is heading off that cliff very fast... AMY: Back in 2011, you produced a financial documentary that went viral. Along the way, it ended up becoming known widely as “The End of America” documentary. Over 5 million people all across America watched it. And in it, you predicted a future for America that upset a lot of people. Your major prediction was that we were heading down a path that would lead to the U.S. losing its world currency reserve status... and that our country would experience a sort of cultural decline as our government grew ever more in debt... At the time you were openly mocked in the financial community. Your ideas were considered “fringe,” even “fear mongering.” Forbes called it “’financial porn’: economic commentary filled with lurid fantasies about imminent collapse.” Fortune called you a “Doomsayer.” And U.S. News called you a “conspiracy theorist.” But today the idea that America could lose its reserve currency status is a warning that other famous financial analysts like yourself have begun to sound the alarm too... Like “bond king” Jeffrey Gundlach...
And even, Stanley Druckenmiller...
But that’s not all… That same warning you shared more than 15 years ago is finally being acknowledged in mainstream publications like... The Wall Street Journal ...
The Guardian ...
Reuters...
And more... Yet, Porter, you outlined exactly how this would all play out over 15 years ago. Long before Fitch Ratings downgraded the United States’ credit rating
and pointed to “expected fiscal deterioration over the next three years,”
a “high and growing general government debt burden” and an “erosion of governance” to explain why they were downgrading our debt. Porter, why do you think you were able to see these facts so clearly, even when others couldn’t?
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