The Plague of the Black Debt, by copywriter Lee Euler, is legendary at Agora.
When I started at Agora as a copy cub in 2009, The Plague of the Black Debt was among the first things I was given to read. And read. And read again.
It was the first ever “bookalog” (a sales letter formatted like a book) and sold over 200,000 new subscriptions for Agora newsletter Strategic Investment.
At the time, Agora’s office was based in a Baltimore ghetto. Employees could hear gunshots from their desk, but the rent was cheap!
Today, Agora owns and operates from several grand buildings in one of Baltimore’s nicest neighborhoods, and has a turnover of more than a billion dollars per year.
The Plague of the Black Debt was the launchpad for most of it…
Click here to download the entire sales letter, or read the lead below…
THE PLAGUE OF THE BLACK DEBT
How to survive the coming depression
Chapter One: Three Little Charts And the Coming “End of the World”
You don’t have to be a conservative, a liberal, or anything at all to understand that America is about to be flattened by a tidal wave. Just consider the following chart:
[CHART A – Gross Federal Debt 1945-1992]
Pretty bad, huh? Now consider a second chart:
[CHART B – Clinton Administration Estimation for Gross Federal Debt Under His Budget Plan]
That’s right, folks. Now that Clinton’s budget bill has passed–and if his economic projections are on target–we’re probably going to add $1 trillion to the federal deficit in the next four years. That’s more than George Bush added in his four years. And it’s almost as much as Reagan added in eight years.
Now I want you to look at a third chart.
These are my projections:
[CHART C – Gross Federal Debt As Projected by the Editors of Strategic Investment]
There you have it. It’s a graphic picture of a freight train–and it’s headed towards you.
It doesn’t matter whether you prefer my figures of Bill Clinton’s. We’re merely talking about different shades of disaster. When you’re dead you’re dead. There aren’t some people who are “more dead” than others.
Already, in this year’s budget, with Clinton’s own figures, 57 cents out of every dollar of federal income taxes is needed to pay just the interest on the debt. Very shortly, it will take all of our income taxes to pay the interest.
Both projections show the debt curve going almost straight up. But of course that isn’t going to happen. Long before your debt reaches “infinity”, you go broke. You are unable to pay even the interest on your debt, much less the principal, and nobody will lend you money anymore. That’s what happens to people like you and me.
If you’re the government, you have another choice: You can print money to get out of your fix. Then inflation takes off, interest rates take off, and the dollar becomes worthless.
At worst, we’re a few years away from one of these grim scenarios. It is too late now to reverse the situation. President CLinton’s program certainly does not do so. Either the government will be forced to default on sunch obligations as Social Security, Medicare, and military pensions. Or the governmetn will pay everything in full–with worthless money.
In a moment, I’ll tell you more about which one it is going to be.
Short-term here are some events I expect in the next few months:
- The public will learn that unemployment is actually growing 50% faster than last year. The numbers we’re getting now are false.
- Russia will come under the control of a nationalist, militarist regime-in effect, a facist regime. Disruptions in the former Soviet Union will upset Western markets.
- The price of oil will fall below $15 per barrel.
- U.S. stocks: Down. Bonds: Down. Interest rates: Up.
- First-time investors have poured money into the market over the last two years. They’ll pull it out at the first sign of trouble, creating a downward spiral.
- The Japanese crisis will deepen. Unemployment there will reach record levels. They will have a major banking crisis. The Japanese will try to raise cash by dumping American “trophy properties,” like Rockefeller Center.
- Saddam Hussein has replaced almost all the arms he lost in the Gulf War. He will test Clinton’s resolve in a major way–soon.
It’s urgent that you take action now. The purpose of this book is to help you decide what to do to protect yourself–and even get rich during the coming bad years!