A Nation Gone Bust - What Might Be Its Future And How Must That Affect You?


It would seem like a peculiar irony. It's the most powerful country the world has ever seen - militarily, at least. Yet its weakness financially is showing up in all sorts of spots. Stubbornly high joblessness. Zombie banks. A shaky stock market. Terrible foreclosure statistics. And debt - both public and private - out the wazoo, in figures we can't even apprehend. Can the two exist together? A powerful military along with a weakening economy? Probably not. Actually the question might be asked, why hasn't the whole thing collapsed already?

Certainly, the U. S. government is bankrupt. There is no way it can fulfill its guarantees to future generations of Americans pertaining to medical care and old-age pensions, let alone sustain its military presence around the globe. And I've not even mentioned the cost of servicing the national debt - let alone paying any of it back which isn't even on the radar screen. When I claimed the federal government cannot do it, I meant that. Not even by raising taxes.

It truly is bankrupt and it maintains itself through its power (until now) to borrow from foreign governments as well as to create dollars out of nothing in order to make payments on its obligations. When the first goes, the second will go, as they say, "to the moon." The consequences associated with practically limitless money printing by the Federal Reserve to satisfy the funding requirements of the central government will be disastrous. Prepare for it as if your future depends on it, because it does.

If you're planning your retirement centered on the supposition that you'll get the same government benefits in your senior years that your mother and father did, you are in for a ugly disappointment. For you, as well as millions just like you, retirement is going to be repealed.