Wednesday, May 19, 2010

America's Economic Future (Collapse)

The National Inflation Association has produced a very current, 55-minute video on America's economic present and future. It features well-known economic conservatives like Marc Faber, Jim Rogers, and Ron Paul. It shows why the current spin coming out of Washington, that the Obama administration's stimulus plans have created a recovery, is an illusion. It clearly shows that America is bankrupt; that America will NEVER be able to pay off her debts (massively increased in the last two years by the administration's printing and borrowing of money, as well as the ongoing two wars); and how the only hope for reducing unpayable debt is the one governments have always used: inflation. That means the government will inflate the debt away by printing more paper dollars to pay the debt. The result for consumers will be massive inflation or hyper-inflation which will result in increased prices for everything, high interest rates, and a radical decline in American standards of living and well-being. In other words, things are bad now and are only going to get worse.

The average American will not take 55 minutes to watch this video (or seek out other sources of information) but will choose to believe sound bites coming out of Washington and from the main-stream media. But I strongly encourage you to invest an hour in your, and your children's, future. The jettisoning of at least four incumbent politicians in yesterday's primaries is a good sign, but I fear that the point made in the video is true: today, there is NO difference between Republicans and Democrats. It was a Republican administration (and the Federal Reserve), prior to the current one, that set in motion the sub-prime crisis, two wars we cannot afford, etc. So even if Democrats are ousted by Republicans in November, that is no guarantee of a solution. The Tea Party Movement shows that lots of people are waking up to the nightmare of the last two years—the sea change in government policies that are counter to historic American values. So perhaps there is some hope that things WON'T GET WORSE than they will be in the immediate future. Even Republicans can do nothing about America's debt, so regardless of who is in Washington, citizens have to take responsibility for their own futures.

This video is a good primer. You may not agree with every opinion stated, but I found 98 percent of it to be sober and calm—just the facts:

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