Best of the Program | Guests: Samuel Brownback & Carol Roth | 10/11/23
Oct 11, 2023
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Former Ambassador Samuel Brownback and recovering investment banker Carol Roth join to discuss the genocide of the Armenian people, the humanitarian crisis in Azerbaijan, Turkey's involvement, and the global war's impact on debt. They also emphasize the importance of supporting Mercury One's fundraising efforts for the Nazarene Fund and standing up for your beliefs. Additionally, they discuss providing support to Israel and Armenia during the ongoing conflict.
The US government deficit for the 2023 fiscal year reached a staggering $1.7 trillion, putting the country's financial future at risk and empowering global actors like China, Russia, and Iran.
Given the uncertainties and potential risks associated with the current global situation, individuals should take steps to protect themselves and their families, including financial preparations and having emergency supplies.
Deep dives
Growing Deficit and Debt
The US government deficit for the 2023 fiscal year reached a staggering $1.7 trillion, more than double last year's figure. This deficit is adding to the already skyrocketing national debt, putting the country's financial future at risk. Rising deficits coupled with surging interest rates, major trust funds on the brink of depletion, and security threats are creating a challenging economic landscape.
Financial Instability and Global Order
The US's deteriorating financial position has empowered global actors like China, Russia, and Iran, who seek to challenge the American dominance. With limited foreign entities willing to finance the US deficit, the Federal Reserve is left as the primary buyer of US debt. However, if a conflict arises, the country's financial stability and ability to finance war become uncertain, potentially leading to an even more volatile and complex global financial order.
The Possibility of World War III
While the outbreak of World War III is not a certainty, the current geopolitical tensions and shifting global dynamics increase the chances of a large-scale conflict. A potential war involving Ukraine, Russia, Israel, Iran, and potentially China could strain US resources, including its military capabilities and financial capacity. It is crucial to prepare mentally, financially, and practically for the possibility of such a global conflict.
Individual Preparation and Austerity Measures
Given the uncertainties and potential risks associated with the current global situation, individuals should take steps to protect themselves and their families. This includes financial preparations, such as diversifying investments, safeguarding assets, and reducing unnecessary expenses. Additionally, having emergency supplies like food, water, and medicine becomes increasingly important as potential disruptions to supply chains could occur in a time of conflict.
Former Amb. Samuel Brownback, chairman of the National Committee for Religious Freedom, joins to discuss the genocide of the Armenian people. Mercury One executive director JP Decker joins to share how the Nazarene Fund uses your donations to help the State of Israel. Recovering investment banker Carol Roth joins to discuss what a global war would do to our debt and how Americans can prepare.