Is a global financial disaster inevitable?
In my opinion, it’s not a matter of if, but when the day of reckoning will hit financial markets around the world. I mean let’s face it, the fiscal problems that have plagued this country, hell the financial problems that have plagued the world, are still simmering on the surface just waiting to erupt.
The economic problems from 2008, you know the one that almost brought this whole deck of cards crashing to the ground, are still alive and well.
Think about it…. What’s changed?
The country is still 16 trillion dollars in debt, community banks are still struggling to keep the doors open, businesses are going bankrupt in record numbers, the housing market sucks and the European Union is on the brink of collapse. Does that all sound like a healthy robust economy?
Let’s take a look at the stats:
88 Million Americans! – That’s the real number of people who are not employed and have stopped actively looking for a job. The number is at it’s highest levels since 1983, and completely debunks the 8.3% unemployment rate that the Government keeps repeating.
46.5 million Americans – That’s the number of Americans who are now relying on food stamps as their primary source of income to feed their family. U.S. food-stamp use has hit an all time record high, with the number of people receiving the benefit jumping by nearly 50% since the last election. The numbers are expected to top 50 million by years end.
$16,532,262,802,345 – That’s how much debt this country has currently racked up. Well that’s actually the number when I started writing this paragraph. In the time it took to get to this word, the number has already increased by over 1 million dollars and is growing by the second.
15.7 million people – That’s the number of U.S. home owners who are currently underwater on their homes. According to the Zillow Negative Equity Report, nearly one in three homeowners with a mortgage owe more on their homes than their homes are worth. The average home owner owes $75,644 more than the value of their home.
53.6 percent – That’s the number of bachelor degree college graduates under the age of 25 that are either jobless or underemployed in this country.
56 percent of the U.S. economy – Remember those banks that were “to big to fail” that caused the economic crisis in 2008? Well those banks are still to big, and they are still causing major fiscal problems. In fact, they are much larger than they were during the banking crisis of 2008.
The top five banks hold over $8.5 trillion in assets, that’s equal to about 56 percent of the U.S. economy. If just one of those banks were to fail, it would probably be enough to push the economy right over the edge.
Ticking Time Bomb? – Banks forced to buy up Government Debt – Citigroup is warning that banking institutions, both in the U.S and abroad, are being forced to buy up government debt so governments around the world can rack up even more debt. In a statement to CNBC a Citigroup analyst warned, “the move could end up making the debt crisis even worse and add billions of toxic debt to the banking system”
Insider selling hitting record highs – As financial pundits try to encourage people to jump into the stock market and invest, insiders at the top S&P 500 companies are taking an entirely different approach. In fact, insider selling among S&P 500 companies is at its highest levels in nearly 10 years. Kind of makes you wonder if they know something’s coming.
Are you prepping for financial problems?
Living Debt Free… Is it part of your survival plan? It’s great to be prepared for an end of days scenario but what happens when you’re faced with a foreclosure or the possibility of living on the streets? Is that not a survival situation?
To be truly prepared for the worst, you must think of your long-term financial security. That means paying off debt, living within your means and starting an emergency fund.
Start Prepping – If the economy crashed tomorrow what would you do? Do you have what you need to survive?
At a minimum we suggest putting together a basic emergency preparedness plan that will help you through troubling economic times. Think about what things you need to survive, and start to stock up on them now. Food, water and shelter should all be at the top of the list.
Now is the time to buy the things you need! I’m not talking about wasting money on crap like T.V’s, cell phones or Ipods. I’m talking about stocking up on the items you will need to live and survive in the future. Things like clothing, food, and survival gear will never lose their value, but money will. The price of everything is going up, stock up while you can.
Survival Intelligence – The Power of Information – If you can’t afford gear, don’t worry stock up on knowledge.
Knowledge is key to surviving any type of disaster, including an economic collapse. In a survival situation, knowledge is going to be a critical factor in determining the outcome of your situation. The ability to be able to predict what will happen in any type of disaster is an important part of being prepared. Start gathering a list of trusted resources and information sources that can help you prepare for whatever the future has in store.