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

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It seems like a strange paradox. It's the most powerful country the world has ever witnessed - militarily, at least. Yet its weakness financially is turning up in all sorts of spots. Stubbornly high unemployment. Zombie banks. A shaky stock market. Terrible foreclosure statistics. And debt - both private and public - out the wazoo, in figures we can't even grasp. Can both exist together? A powerful military along with a deteriorating economy? Not likely. Actually the question could be asked, why hasn't the entire thing collapsed already?

Yes, the U. S. government is bankrupt. There can be no way it might fulfill its guarantees to future generations of Americans pertaining to health care and old-age pensions, not to mention maintain its military presence around the globe. And I've not yet mentioned the cost of servicing the nation's debt - let alone paying some of it back which isn't even on the radar screen. When I claimed the government cannot do it, I meant that. Not even by raising taxes.

It truly is bankrupt and it sustains itself by its power (until now) to borrow from foreign governments and to create dollars out of nothing in order to make payments on its obligations. Once the first has gone, the second will go, as people say, "to the moon." The consequences associated with practically unlimited money creation by the Federal Reserve to meet the financing requirements of the central government is going to be devastating. Prepare for it as if your future will depend on it, because it does.

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 For you, and millions like you, retirement is going to be repealed.

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