There's an old Hemingway quote about going bankrupt. How did you go bankrupt? Two ways, gradually and then suddenly.Here in the United States, we've had a front row seat to gradual bankruptcy. What does that mean? Under Obama, good policies have been replaced by bad policies. Good money has been replaced by bad money. Debt has been piled up in every state of the union. We have the same speech. The state of the union is strong. We're investing trillions of dollars in Muslim, green energy self-esteem. Of course, that's not an investment because an investment is when you get money back. It's just spending, but that's how you go bankrupt. And at the end of the day, the bill comes due and suddenly it's, "Where did all the money go?" "How did we suddenly go bankrupt?"

Now demographic bankruptcy is also a very real thing. Economic bankruptcy is when you have no more money. You wake up one morning. There's no more money. Demographic bankruptcy is when you wake up one morning. There are no kids, and this is a very real problem. You've heard China is abandoning its one-child policy. It's now going to be a two-child policy. Germany though has a one-child policy of its own. The German birthrate is 1.3. That's a one-child policy. That's a 1.3-child policy. There's a slight problem here because if you've got a birthrate of 1.3, and you've got socialism, who is going to pay for all of this? The entire system is based on the idea that the next generation is going to pay in, and the next generation is going to pay in, and this whole thing can keep running along indefinitely, but the Europeans aren't having kids. I grew up in Europe myself for sometime, and it wasn't unusual. I was one of the few kids running around. There are a lot of elderly people. There were some middle aged people. There were not that many young people, and it's actually getting worse these days.