The United States is on a path to financial ruin, and everyone can see what is happening, but nobody can seem to come up with a way to stop it. According to the U.S. Treasury, the federal government is currently 22 trillion dollars in debt, and that represents the single largest debt in the history of the planet. Over the past decade, we have been adding to that debt at a rate of about 1.1 trillion dollars a year, and we will add more than a trillion dollars to that total once again this year. But when you add in our unfunded liabilities, our long-term financial outlook as a nation looks downright apocalyptic. According to Boston University economics professor Laurence Kotlikoff, the U.S. is currently facing 200 trillion dollars in unfunded liabilities, and when you add that number to our 22 trillion dollar debt, you get a grand total of 222 trillion dollars. (Read More...)
Debt Bubble
The Federal Reserve Is Not Going To Save Us From The Great Depression That Is Coming
Federal Reserve Chairman Ben Bernanke delivered his annual address to Congress on Tuesday, and he did very little to give lawmakers much confidence about where the U.S. economy is heading. Bernanke told members of Congress that recent economic data points “suggest further weakness ahead” and that the Federal Reserve is projecting that the U.S. unemployment rate will remain at 7 percent or above all the way through the end of 2014. Now, it is important to keep in mind that Federal Reserve forecasts are almost always way too optimistic. The actual numbers almost always end up being much worse than what the Fed says they will be. So if Bernanke is saying that the U.S. unemployment rate will be 7 percent or higher until the end of 2014, then what will the real numbers end up looking like? During his testimony, Bernanke seemed unusually gloomy about the direction of the U.S. economy. He seemed resigned to the fact that there really isn’t that much more that the Federal Reserve can do to stimulate the U.S. economy. Yes, the Federal Reserve could try another round of quantitative easing, but the first two rounds did not really do that much to help. The truth is that the United States is absolutely drowning in debt, and when that debt bubble finally bursts the Federal Reserve is simply not going to be able to save us from the Great Depression that will happen as a result. (Read More...)
19 Warnings About A Coming Global Financial Catastrophe
Global leaders have tried just about everything that they can think of, but the coming global financial catastrophe continues to march steadily toward us. We have seen “stimulus packages”, quantitative easing, bond buying, interest rate cuts, emergency economic summits, bailout packages for banks, bailout packages for entire nations, “Operation Twist”, unprecedented government intervention in business and massive amounts of new government debt and yet nothing seems to revive the global economy. In fact, it looks like we are rapidly heading into the second dip of a “double dip recession”. Unfortunately, many believe that this next dip will be more like a full-blown depression. All over the world, top economic experts are warning that we are facing an unprecedented crisis of debt and insolvency that will result in a global financial catastrophe. The eurozone is drowning in debt, the U.S. government is drowning in debt and major banks all over the globe are drowning in debt. Global authorities have been trying to patch the system together and keep it going, but the incredible damage that all of this debt has done is now becoming apparent to everyone. The global debt bubble that has fueled prosperity in the western world for the last several decades is getting ready to burst, and when that happens the chaos that will result will be absolutely horrifying. (Read More...)
One Nation Under Debt With Endless Debt Slavery For All
Debt is a “soft” form of slavery. In America today, it is not legal to bind people up with chains and force them to work for you, but that doesn’t mean that there are not millions upon millions of slaves in this country. When you borrow money, you willingly become a servant to the lender. Sadly, there are millions of Americans that will spend the rest of their lives working to pay off their debts but they will never escape the endless debt slavery that they have gotten themselves into. When you add up all forms of debt in the United States at this point, it comes to more than 54 trillion dollars. That is more than $178,000 for every man, woman and child in America. We truly are one nation under debt, and we have created the biggest debt bubble in the history of the planet. Unfortunately, all debt bubbles eventually burst, and when this one bursts the consequences are going to be unlike anything ever seen before. (Read More...)
1 Through 30 – The Coming U.S. Financial Crisis By The Numbers
The United States is drowning in a sea of red ink from coast to coast and most Americans have absolutely no idea what is about to happen. Hopefully you have started to prepare for the coming U.S. financial crisis. If not, hopefully this article will be a wake up call for you. Right now, governments all over Europe are on the verge of financial implosion. Most Americans aren’t paying much attention to that, but they should be, because what is happening to Greece and Italy right now will eventually be happening here. Just recently, the U.S. national debt passed the 15 trillion dollar mark. State and local government debt is also at record levels. Tens of millions of American families are in debt up to their eyeballs, and millions more Americans fell into poverty last year. Meanwhile, the “too big to fail” banks just keep getting larger and the Federal Reserve continues to inflate the debt bubble. At some point this debt bubble is going to burst, and when it does it is going to unleash financial hell all over America. (Read More...)