Washington Stages a Peacetime Fiscal Blowout – WSJ

Congratulations, of a perverse sort, to President Biden and his Congressional comrades. The latest budget figures show that they are breaking peacetime, non-crisis records for spending and deficits. And there s no respite in sight.

The Beltway brethren racked up a deficit of $1.62 trillion for the first 10 months of the fiscal year, according to the Congressional Budget Office s monthly review for July. That s up from $726 billion a year earlier. If not for shifts in the dates of some payments, CBO says the deficit would have been even higher at $1.7 trillion, or a 131% increase.

via www.wsj.com

So squirrel away your money and at exactly the right moment, convert everything to gold. Yeah, that’s the ticket. Just listen for the bell.