When Donald Trump warns of the dangers and possibility of a massive financial loss, Americans better start saving their pennies if there are any pennies to be had.
Swiss economist Marc Faber has voiced his concerns that the destruction of the American dollar is spinning out of control. He predicts that in the near future, even people with higher means of living may lose up to 50 percent of their money. He is 100 percent sure of his statement.
The reason the U.S. is heading for monetary disaster is Ben Bernanke’s decisions on policy and the undeniable fact that the U.S. continues to print new money.
CEO of Euro Pacific Capital, Peter Schiff adamantly agrees with Faber’s point. Schiff is warning that the stock market crash in 2008 was nothing compared to the stock market losses that are forthcoming.
Daily life will get drastically worse for American citizens. The U.S. standard of living will disintegrate, social security will no longer be there and government pensions will cease to exist all because the government can no longer foot the bill.
Donald Trump warns the U.S. is on the rim of financial obliteration. The U.S. government is borrowing monies from China of all things, not to mention monetary assistance from other countries as well. But the U.S. dollar keeps on printing and devaluing its and America’s worth.
Soon the government will be $16 trillion in debt with no forecast of slowing down. The American dollar is sliding quickly into the pits of Hell along with the American way of life thank you government officials Republican and Democrats both.
Robert Wiedmer, best selling author of Aftershock says in an interview, the economic destruction of American will go beyond the effects of a depleting stock market, the dwindling dollar and rising debt. He believes beginning in 2013 unemployment will increase to 50 percent, inflation will rise to 100 percent and the stock market will drop by 90 percent. The nation’s financial health is stricken and our government leaders are not listening.
This news is daunting for those retiring who are seeing their 401K’s dwindle down to nothing. But there are ways to change investment strategies that will possibly offset the financial crash that is headed on its way.
First of all, the decline in monetary wealth is coming. Be more pessimistic in what is being delivered through the media. Even though government statistics provide the illusion that the recession is over, understand the American people are being served a bag of beans that even Jack and the bean stock couldn’t fix.
Personal responsibility is also needed in preparing for retirement. Do not leave it up to the government or financial advisors or even employers to be accountable for retirement plans. Personal responsibility means having control.
Save, save, save is the motto. Put more money into an IRA, health savings account or workplace savings plan to better prepare for retirement.
Also an emergency fund is necessary in case of loss of job, health problems or even the headaches of home or house repairs.
And as taught in economics 101 classes, pay down debt whether money is owed on a home, vehicle or credit cards. With interest rates about to increase to more than comprehensible levels, it is economically wise to lessen debt and get out from under the interest rate payments.
Be more thoughtful in investment choices. Those people who did not pull out of their stocks during the 2008 crash fared better than those who frantically bailed. Get informed, attend a stock seminar to grow your understanding of how to invest your money wisely.
As the government keeps printing and devaluating the American dollar bringing our great country to ruins, being aware of the monetary crises on its way and taking responsibility should help to ease the massive financial loss American is about to undergo.
Written by Lisa Graziano