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by Egon von Greyerz

 

When all the euphoria about the election and the Executive Orders is gone, the annoying small problem of the $36 trillion US debt remains – a debt growing exponentially. And also a debt that Trump tactfully avoided to discuss in his election campaign. 

 

After us, the flood (après nous le deluge) is what Louis XV’s Mistress, Madame Pompadour, said to the French king after losing an important battle against Prussia in 1757, leading to the end of the French monarchy.

 

Deficits, debt, and a devaluing currency have destroyed every monetary system in history. Is the US - and the Western world - next?

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