Here we go AGAIN
Remember “too big to fail?”
The Guardian points out that all these years later, and banks not only do not have a plan, it’s as if eight years have gone by, and nothing has changed!
“The goal to end too big to fail and protect the American taxpayers by ending bailouts remains just that: only a goal,”
America today is as weak, if not weaker, then we were in 2008. The global condition is as weak, if not weaker, than it was in 2008. Many business people say we can’t survive another hit.
Think about it, how did we get out of the last economic struggle? We pumped trillions of dollars into the economy and we bailed out corporations so that they couldn’t go bankrupt.
There just isn’t any more money to do it again!
It’s not only America. China is hurting, and they’re selling off our debt, and I expect other countries to follow suit. They don’t have money either.
Japan is running almost 230% of GDP, and I expect them to go belly-up any day now.
People complained about Spain for years, yet our debt to GDP ratio is higher than theirs!
Notice there are a lot of exclamation marks in this article. There actually should be more.
The number most Americans are familiar with is the one the government reluctantly talks about, the national debt.
That means every man woman and child in America owes about $60,000 to pay off the current national debt.
What they don’t tell you about on the unfunded liabilities. How much $ is owed behind-the-scenes?
About $100 TRILLION!
Click here to look at the dynamic chart of all of these scary numbers.
America, we are not only out of money, every PERSON in America owes almost $1 million in unfunded liabilities!
In an article at CNBC, Paul Gambles says:
“For US equities, the previous instance of severe debt-inflation in the U.S. is the most frighteningly obvious precedent. the backdrop preceding The Great Depression had strikingly fundamental and technical similarities to today.”
There are almost 50 million Americans living in poverty. About one in three Americans are unemployed, and we’re supposed to somehow believe things are going to get better? The government claims 5% unemployment, yet they stop counting unemployed people when they stop looking for jobs, or when their unemployment checks run out. How can a country have 100 million unemployed people and still function?
Here’s a Forbes article from a couple of years ago that talks about this.
“The government” already did the bailouts. The government already poured trillions of dollars into the economy. They can’t do it again.
Americans were given a temporary break, because oil prices went down, and we saved some money on gas. What most folks don’t understand is, that wasn’t really a good thing.
The Saudi’s were trying to push American oil companies out of business. Our so-called “allies” didn’t like the competition, so they flooded the world with oil. They didn’t count on the global economic slowdown though, which resulted in a huge glut of oil around the world, which helped drive prices down further.
Now, many states in America are struggling again, because oil was low for so long, many people are losing their jobs.
Let’s take a moment to look at our “friends” in the Middle East. When the Middle East attacked Israel in 1973, Israel cleaned their clocks and won the war easily. After the war, Saudi Arabia was mad at America, and the rest of the world, so they cut off our oil supply.
Anybody who was alive back then remembers the panic. In Germany, there was no driving on Sunday. In America, you got gas based on odd or even numbers on your license plate.
Eventually, things went back to normal.
Once again, all these years later, Saudi Arabia attacks America by trying to bankrupt American oil businesses.
With friends like them, who needs enemies?
What’s next? Oil will certainly go back up in price. It could possibly even double by the end of the year.
Governments all over the world will print more money to put into their economies, to try to prop things up as long as possible. I doubt it’ll work.
America will continue to print fake money. The dollar today is worth about five cents. How much longer do you think we will be able to keep the printing presses going?
Referring to a report by the IMF, the Telegraph says “Stocks in the UK, US, eurozone and China would lose a fifth of their value over two years, it estimated.”
That would drop the United States stock market from around 17,000 to around 13,600.
It’s time to diversify. Buy oil, gold and silver.
Oh, and pray!
United we stand ~ Divided they die
Cherish Life Ministries
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