Many people who read this blog share the concerns that I write about, but a very few have suggested that I’m just another “whiner.” I’ve heard Ron Paul called the same name and that being the case, if people legitimately feel it to be a truly accurate description, then I’m happy to wear the title proudly. For those who disagree with our prognosis, I have just one question. “What makes you believe that tomorrow is going to be a better economic day than today?”
When President Obama took over in January of 2009, the National Debt stood at roughly $10 trillion. When he leaves office in January of 2017, it will stand at roughly $20 trillion. Our National Debt will have doubled in less than 10 years! It took roughly 232 years to create a $10 trillion debt, but it’s taken us less than ten years to double it! Worse than that, there’s no end in sight to the compounding trend. But all of that is actually the good news. The really bad news is the fact that we’re rapidly approaching the point where we can’t even afford to make the interest payment on the loan. The Fed’s horrific manipulation of interest rates will only serve to exacerbate the situation over time. And just like any borrower, one’s ability to borrow is as good as one’s FICO score and ability to pay. And as a country, both of our scores suck. But when you default on the loan, you’ve achieved a whole new level of debilitating trouble. The downturn is sudden, dramatic and devastating, if not terminal.
This isn’t whining. It is simple math and economics. Like it or not, two plus two equals four. Whining won’t change the fact, but ignoring it won’t change the fact either. Is your car twice as nice as it was ten years ago? Your income? Your life? If the answer is no, then it’s time for you to be concerned, because figuratively speaking, our economy is accelerating toward a concrete wall at a breakneck speed and absolutely no one is trying to apply the brakes or even acknowledge the wall. Most of America is already accustomed to living on a shoestring budget. My greatest concern is for those in the one percent, who wrongly think they’ve got it made. Because a great majority of the assets they’ve assembled; cars, real estate and paper assets, can potentially become worthless overnight. Worse than that, in the darkest scenario, they can become serious, attention-getting liabilities.
Precious metals have been universal currency throughout history. Now is no time to consider reinventing the wheel or trying to create a better mouse trap. Protect your assets, family and legacy with precious metals, NOW!