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

It seems like a strange paradox. It's the most powerful nation the world has ever seen - militarily, at least. Yet its weakness economically is showing up in all kinds of spots. Stubbornly high unemployment. Zombie banks. A shaky stock market. Nasty foreclosure statistics. And debt - both public and private - out the wazoo, in numbers we cannot even apprehend. Can both exist together? A powerful military along with a weakening economy? Probably not. In fact the question might be posed, why hasn't the entire thing collapsed already?

Yes, the U. S. government is bankrupt. There can be no way it can fulfill its promises to future generations of Americans regarding medical care and old-age retirement benefits, not to mention maintain its military presence all over the world. And I've not even mentioned the cost of servicing the national debt - never mind paying any of it back which is not even on the radar screen. When I claimed the government cannot do it, I meant that. Not even by raising taxes.

It really is bankrupt and it sustains itself through its ability (so far) to borrow from foreign governments as well as to create dollars out of nothing in order to make payments on its obligations. Once the first goes, the second will go, as they say, "to the moon." The consequences of essentially limitless money creation by the Federal Reserve to meet the financing requirements of the central government will be devastating. Plan for it like your future depends on it, because it really does.

If you're planning your retirement based on the supposition that you will receive the same government benefits in your old age that your parents did, you are in for one ugly disappointment. For you, and millions like you, retirement is going to be repealed.

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