Is America" s Economy Improving
With all the current economic issues in the United States, one has to consider his/her finances going forward. Will our savings, 401Ks, and/or current income streams be secure? Is our current retirement plan safe considering an economy that seemingly isn't? There are mixed reviews according to the experts, but let's look take a look at where things really stand now, and from there, you can decide if you should be concerned.
According to YaleGlobal's report Global Financial Crisis, the current financial crisis is the worst the world has seen since the Great Depression of the 1930s. For younger generations, accustomed to mild recessions of the new phase of globalization, the misery of the Great Depression is hitherto nothing more than a distant legend. However, the collapse of two Bear Stearns Hedge funds in summer of 2007 exposed what came to be known as the subprime mortgage crisis, reintroducing the world to an era of bank failures, a credit crunch, private defaults and massive layoffs.
I would also interject seemingly many people do not see the current economic crisis to be as bad as it is described by YaleGlobal and others. It seems many people do feel it's simply just another mild recession that will soon pass; however, one must consider that we are now entering the fifth year of our current economic state, whether one chooses to call it a crisis or not.
Thomas Heffner of economyincrisis website states that the United States is facing economic disaster on a scale few nations have ever experienced. Most people are unaware of the easily observable signs of this crisis, where it came from and how to stop it. While we persist in our superpower mentality, we have quietly become a second-class country in many respects.
So whether we are or aren't concerned about the United States' current economic situation, maybe we should be. Do you realize that the American dollar is currently losing value in most every other country at this point? Do you realize that the current reported unemployment rate is not truly accurate?
Robert Morley, columnist for TheTrumpet dot com recently wrote an article entitled Why The U.S. Dollar Constantly Loses Value. In said article, Morley poses the question, ever wonder why your dollar doesn't seem to stretch as far as it used to? There is a simple explanation: It's worth less. The reason? The nation's money supply is constantly being expanded."
Morley's article further discusses some reasons behind the dollar's value decline. America's massive monetary expansion could be about to boomerang on itself, as it did in 1934 and 1971--only this time, the number of dollars involved absolutely dwarfs all previous currency crises. As the U.S. persistently destroys the value of the dollar by overprinting (or, more correctly, over-creating, since most money created is now digital), foreign nations are losing confidence in the dollar and its role as a reserve currency. Foreign central bank sales are the first waves of a coming dollar storm. The more that central banks dump dollars, the greater the loss of investor confidence in the dollar.
As Congressman Ron Paul wrote in Texas Straight Talk, May 15, 2006, "The consequences of a rapidly declining dollar are not yet fully understood by the American public. The long-term significance has not sunk in, but when it does there will be political hell to pay in Washington. Our relative wealth as a nation is measured in dollars, and the steady erosion of the value of those dollars means we will all be poorer in the future."
As much as the dollar's value has fallen in the past, Americans must face the reality of far more dramatic drops to come.
Bottom line is there are many experts who feel America's economic woes are only beginning. Whether that be the case or not, doesn't it make sense to ensure that we are as prepared as we can be? I've begun working toward shoring up my financial future for today and tomorrow by working some home business ideas that diversify income streams.
(YaleGlobal), (Economy InCrisis), (TheTrumpet) (Robert Morley) (Texas Straight Talk) (Ron Paul)
Copyright (c) 2013 Scott Nail
According to YaleGlobal's report Global Financial Crisis, the current financial crisis is the worst the world has seen since the Great Depression of the 1930s. For younger generations, accustomed to mild recessions of the new phase of globalization, the misery of the Great Depression is hitherto nothing more than a distant legend. However, the collapse of two Bear Stearns Hedge funds in summer of 2007 exposed what came to be known as the subprime mortgage crisis, reintroducing the world to an era of bank failures, a credit crunch, private defaults and massive layoffs.
I would also interject seemingly many people do not see the current economic crisis to be as bad as it is described by YaleGlobal and others. It seems many people do feel it's simply just another mild recession that will soon pass; however, one must consider that we are now entering the fifth year of our current economic state, whether one chooses to call it a crisis or not.
Thomas Heffner of economyincrisis website states that the United States is facing economic disaster on a scale few nations have ever experienced. Most people are unaware of the easily observable signs of this crisis, where it came from and how to stop it. While we persist in our superpower mentality, we have quietly become a second-class country in many respects.
So whether we are or aren't concerned about the United States' current economic situation, maybe we should be. Do you realize that the American dollar is currently losing value in most every other country at this point? Do you realize that the current reported unemployment rate is not truly accurate?
Robert Morley, columnist for TheTrumpet dot com recently wrote an article entitled Why The U.S. Dollar Constantly Loses Value. In said article, Morley poses the question, ever wonder why your dollar doesn't seem to stretch as far as it used to? There is a simple explanation: It's worth less. The reason? The nation's money supply is constantly being expanded."
Morley's article further discusses some reasons behind the dollar's value decline. America's massive monetary expansion could be about to boomerang on itself, as it did in 1934 and 1971--only this time, the number of dollars involved absolutely dwarfs all previous currency crises. As the U.S. persistently destroys the value of the dollar by overprinting (or, more correctly, over-creating, since most money created is now digital), foreign nations are losing confidence in the dollar and its role as a reserve currency. Foreign central bank sales are the first waves of a coming dollar storm. The more that central banks dump dollars, the greater the loss of investor confidence in the dollar.
As Congressman Ron Paul wrote in Texas Straight Talk, May 15, 2006, "The consequences of a rapidly declining dollar are not yet fully understood by the American public. The long-term significance has not sunk in, but when it does there will be political hell to pay in Washington. Our relative wealth as a nation is measured in dollars, and the steady erosion of the value of those dollars means we will all be poorer in the future."
As much as the dollar's value has fallen in the past, Americans must face the reality of far more dramatic drops to come.
Bottom line is there are many experts who feel America's economic woes are only beginning. Whether that be the case or not, doesn't it make sense to ensure that we are as prepared as we can be? I've begun working toward shoring up my financial future for today and tomorrow by working some home business ideas that diversify income streams.
(YaleGlobal), (Economy InCrisis), (TheTrumpet) (Robert Morley) (Texas Straight Talk) (Ron Paul)
Copyright (c) 2013 Scott Nail
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