As the U.S. media trumpets the arrival of a great “economic recovery”, the vast majority of the American people are completely unaware that the entire U.S. financial system is caught in a hopeless death spiral. The cold, hard reality is that any temporary “green shoots” that we are seeing in the economy are there not because our politicians have figured out a way to deal with the financial problems of the United States. No, the “green shoots” are there because our politicians have flooded our economy with a whole bunch more debt. Debt will stimulate an economy for a little while, but the truth is that any new debt just makes our long-term economic problems even worse. But now we are caught in a never ending cycle of debt, and there is no hope that we will ever be able to pay if off. Most Americans do not understand economics, but if they did, they would realize that the American Dream is literally being destroyed right in front of their eyes. Not only have we squandered the vast amounts of wealth that our forefathers left us, we have also piled up the biggest mountain of debt in the history of the world. We have created an economic nightmare from which there is no escape. Our children and our grandchildren will be trapped in it for their entire lives. What we have done to future generations of Americans is absolutely criminal.
It is being projected that the U.S. government will have a budget deficit of 1.6 trillion dollars in 2010. If individual income tax rates went up to 100% for all Americans, it would still not be enough to balance the budget.
Yes, you read the correctly.
The truth is that the U.S. government has become a monstrous black hole of reckless spending and debt.
The once great capitalist engine that once made America great is being decimated by the growing socialist monstrosity in Washington D.C.
You see, the average federal worker now earns twice as much as the average worker in the private sector.
Tens of millions of other Americans are completely dependent on U.S. government payments (such as Social Security, Medicare, food stamps, etc.) to make it from month to month.
In fact, it is becoming extremely difficult to make it in America if you don’t get money from the government.
We have become a socialized welfare state and we are rapidly spending our way into oblivion.
So what happened?
Well, when Ronald Reagan took office, the total U.S. national debt was only about 1 trillion dollars (which was bad enough).
But now we have a total nightmare. As of December 1st, 2009, the total debt of the U.S. government was approximately 12.1 trillion dollars.
Not only that, but the U.S. Congress recently approved an increase in the U.S. government debt cap to 14.3 trillion dollars.
The words “billion” and “trillion” get thrown around a lot these days, so it is important to take a moment to try to grasp just how large a trillion is.
How difficult is it to spend a trillion dollars?
Well, if you went out today and spent one dollar every second, you could spend a million dollars in twelve days.
At the same rate, it would take you about 32 years to spend a billion dollars.
But to spend a trillion dollars would take a lot longer.
If you went out and spent one dollar every single second, it would take you more than 31,000 years to spend a trillion dollars.
In fact, if you made one million dollars every single day since the birth of Christ, you still wouldn’t have even one trillion dollars.
Are you starting to get the picture?
We have created the biggest financial mess in history, and in 2010 the U.S. government is projected to issue almost as much new debt as the rest of the governments of the world combined.
As the debt of the U.S. government explodes, it will mean that the money supply will explode as well. Tons and tons and tons of new dollars will continue to flood the world.
So if there are more dollars, what does that do to the value of all existing dollars?
Well, it destroys the value of existing dollars.
You had better get ready for the coming collapse of the U.S. dollar.
There is no way in the world that your dollars ten years from now are going to have anywhere close to the purchasing power that they do today.
All of this is beautifully illustrated in a brand new documentary entitled “Meltup”. It is probably the best video on the economic crisis that America is facing that has ever been posted on YouTube. It is just under an hour long, but it is well worth watching. After watching this video you will have a much greater understanding of the economic nightmare that the United States is facing. Please send this video out to your friends, your family and to as many people as you can….