A Country Gone Bust - Just What Might Be The Future And How Will That Affect You?
It seems like a peculiar paradox. It's the most powerful nation the globe has ever witnessed - militarily, at least. Yet its weakness economically is turning up in all kinds of places. Stubbornly high unemployment. Zombie financial institutions. A shaky stock market. Nasty foreclosure stats. And debt - both private and public - out the wazoo, in numbers we can't even apprehend. Can the two exist together? A powerhouse military along with a weakening financial system? Not likely. In fact the question could be posed, why hasn't the whole thing collapsed already?
Certainly, the U. S. government is bankrupt. There can be no way it can carry out its guarantees to future generations of Americans regarding health care and old-age retirement benefits, let alone maintain its armed forces presence all over the world. And I've not even mentioned the expense of servicing the nation's debt - never mind paying some of it back which is not even on the radar screen. When I said the government can't do it, I meant that. Not even by raising taxes.
It's bankrupt and it maintains itself by its ability (until now) to borrow from foreign governments as well as to create money out of nothing 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 printing by the Federal Reserve to meet the funding requirements of the central government will be disastrous. Prepare for it like your future will depend on it, because it really does.
If you are planning your retirement centered on the supposition that you will get the same government benefits in your senior years that your parents did, you're in for one horrible disappointment. For you, and millions just like you, retirement is going to be repealed.
A Country Gone Bust - Just What Might Be The Future And How Will That Affect You? If you're planning your retirement based on the supposition that you will receive the same government benefits that your parents did, you are in for a horrible disappointment. For you, as well as millions just like you, retirement is going to be repealed.
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