US ECONOMY NEAR COLLAPSE

SPECIAL REPORT

Not only is the worsening situation in Greece pushing the US toward an economic collapse, but there are several key indicators that are ominously pointing in that direction as well.  As of this moment, a contest between major world economies to see who can devalue their currency the quickest is heating up.  Devaluation is caused by printing more money, and the US is leading that charge.  When you compare the value of the dollar against the gold standard and countries who have not been devaluing their currency, the picture becomes very clear.  For example, in 1999, you could buy an ounce of gold for $275; now it costs $1,700, a devaluation of 83.9%!  When you compare the dollar to the Canadian dollar or the Swiss franc, the dollar has been devalued by 40% just in the last few years. 

Real unemployment is at 23%, a level not seen since the Great Depression.  If we had discontinued paying out unemployment benefits, we would already be in a serious depression. 

Housing foreclosures have continued at Depression Level rates; banks are beginning to slow down foreclosures in many markets simply because they have absolutely no chance to resell them.  The vast majority of the country owes more on their homes than their homes are worth and there is no sign of that fact changing soon; this means that more Americans are willing to walk away from their homes and rent.  The three worst states for foreclosures are California, Nevada and Arizona. 

Corporations are cash rich, simply because they don’t want to invest their money in the uncertain economic climate, with higher taxes and the new ObamaCare looming.  Their lack of investment and hiring continues to push the economy down.  With the Chinese economy starting to sputter, the possibility of a severe global depression is now turning into probability. 

You need to do what the corporations are doing: conserve cash.  Put it into low risk financial institutions; stay away from those who were recently borrowing money from the feds.  Don’t stick anything into the stock market; low risk bonds are okay for the time being.  Don’t buy anything on credit and buy only what you absolutely have to.  Continue to pay down your debt, but remember to keep cash at hand because, even though your debt is lower, you may not be able to borrow any money from anyone. 

These are scary times.  Pay close attention to who you elect in November.

That’s MY AMERICAN OPINION, respectfully submitted.