Money Talk Daily

It seems like a strange irony. It’s the most powerful country the globe has ever seen – militarily, at least. Yet its weakness financially is showing up in all sorts of spots. Stubbornly high unemployment. Zombie banks. A shaky stock market. Nasty foreclosure statistics. And debt – both public and private – out the wazoo, in figures we cannot even apprehend. Can the two exist together? A powerhouse military coupled with a deteriorating economy? Not likely. Actually the question could be asked, why hasn’t the whole thing collapsed already?

Certainly, the U. S. Government is bust. There can be no way it might fulfill its guarantees to future generations of Americans regarding health care and old-age pensions, let alone sustain its military presence around the world. And I’ve not yet mentioned the cost of servicing the nation’s debt – never mind paying some of it back which isn’t even on the radar screen. When I claimed the government can’t do it, I meant that. Not even with raising taxation.

It truly is bankrupt and it maintains itself by its power (until now) to borrow from foreigners as well as to create dollars out of nothing in order to make payments on its obligations. Once the first goes, the next will go, as people say, “to the moon.” The consequences of practically limitless money creation by the Federal Reserve to meet the financing requirements of the central government will be disastrous. Plan for it like your future will depend on it, because it does.

If you’re planning your retirement centered on the supposition that you will receive the same government benefits in your old age that your mother and father did, you’re in for a ugly disappointment. For you, and millions like you, retirement will be repealed.

Get busy yesterday.