Economic Depression 2010
Updated: 7-9-08
Don't look now but the U.S. economy is collapsing.
Here are 21 reasons why our nation will soon tumble into a
severe economic depression the likes of which we
haven't seen since the last Great Depression of the 1930s:
1. Big Banks are failing. The federal government has
been forced to bail out some of the largest banks in the
country.
2. The U.S. dollar, once as good as gold, has lost
more than half it's value over the past six years!
3. Oil and energy prices are soaring to all-time
record levels. The oil producing countries are pumping flat
out yet the world is screaming for more! Our entire economy is
based on the easy availability of cheap oil but what happens now
that all the cheap oil is gone?
4. Foreclosure rates are high and rapidly
increasing. In May '08 foreclosures surged 49% when compared
to the same month last year.
5. Consumer spending - a major part of our economy - is
rapidly declining. American consumers are tapped out, broke
and maxed out on their credit cards. Soon we will enter a deep
and lasting consumer driven recession.
6. House values have fallen to levels not seen
since the last Great Depression! Where will American
consumers go for money now that they can no longer borrow
against their rapidly increasing house value?
7. We're wasting over a trillion badly needed
dollars on an illegal war in Iraq. Before it's over we'll
blow more than three trillion in total.
8. Our American health care system is collapsing.
Hospitals are closing their doors all over the country while
health insurance premiums are skyrocketing.
9. The mortgage meltdown is threatening to destroy
the pensions millions of Americans depend on.
10. Millions of high-paying manufacturing jobs
continue to leave the U.S. headed for China, India and
Mexico.
11. Hundreds of banks will soon fail. Chairman
of the Federal Reserve System Ben Bernanke has admitted that
he's hiring hundreds of new bank examiners in preparation for
this new wave of bank failures.
12. Food prices are soaring. If present price
trends continue, soon over a billion people living in the poorer
countries will no longer be able to afford to buy food. What
hapens then?
13. Global warming is destroying crops. The
increased cost of oil-based fertilizers, pesticides, fungicides
and herbicides along with the increasingly unpredictable natural
of our weather is making the planting of crops a high risky
business. Look for food prices to continue their upward
swing for decades to come.
14. Inflation in the U.S. stands at 7.5%. When
corporations begin to pass along the massive increases in energy
costs, inflation will quickly climb to double-digit levels.
15. Labor strikes will soon cripple our entire
economy. Disgruntled employees who have suffered widespread
layoffs, salary reductions, the slashing or even elimination of
their pensions, huge increases in medical insurance premiums and
the elimination of overtime will fight back with the only tool
they have - they'll go on strike demanding much higher
wage rates in an effort to keep up with the escalating level of
inflation.
16. Our government is forced to borrow $3.1 billion
from the Chinese and Japanese every single day! They then
hand a third of it over to the Arabs for oil. This level of
foolish borrowing can't go on forever!
17. Soon our 78 million baby boomers will retire. Over
the next 25 years they will extract over 100 trillion dollars
from the social security, Medicare and Medicaid systems.
Read my lips - the money isn't there. (And these figures don't
include Bush's new 18 trillion dollar Medicare prescription
drugs benefit.)
18. City, county, state, corporate and federal debt
loads are at or very near record levels. We are literally
floating in a sea of debt. Will all this debt ever be
repaid. It doesn't seem likely!
19. The U.S. auto industry is shutting
down No one wants our big American gas-hogs with gas
prices soaring toward five bucks. And remember this - one in six Americans makes
their living directly or indirectly off the auto industry. Massive
unemployment can't be far away.
20. Consumer debt is out of control!
Back in 1980 it hovered around $100 billion. By 1990 it had doubled
to around $200 billion. Now it's over 2.7 trillion dollars and still
growing! We are truly a nation living on our credit cards! Will
all this debt ever be repaid?
21. Massive new federal spending
The Bush administration has increased overall federal spending a
whopping one trillion dollars and that has increased our federal debt
$3.7 trillion to an incredible $9.3 trillion dollars. That's over
$31,000 for each man, woman and child in America!
Soon a wave of bank failures will sweep through our economy.
Even Ben Bernanke the Chairman of the Federal Reserve system has
openly admitted it! Labor strikes will paralyze our airline,
movie and other industries.
This from the June 16, 2008 issue of the Financial Times:
"Home prices have fallen by 16 percent
since 2006 and 15 million Americans could soon have negative
equity in their homes."
"Such large loses could jeopardize bank
balance sheets. There are 6,700
U.S. banks with less than $1
billion of assets. It is possible that several hundred banks
could fail during the the year ahead."
'If they (the White House and the
Congress) fail to act, they may soon have to consider
legislation mandating the government to assist in the
recapitalization of the U.S. banking system with public
money - for the first time since the 1930s."
The government recently announced
that 49,000 jobs were lost in May. This is the biggest monthly
job loss figure in 22 years!
The U.S. economy is tumbling into very hard
times, the like of which haven't been seen since the Great
Depression of the 1930s. Those who educate themselves now and
take the right steps will live like kings and accumulate great
wealth in the hard inflationary years to come.
While those who ignore the gathering clouds
will suffer terribly. Which group will you belong to?
So I have one question for you:
What Will You Do When the
New Economic Depression Hits?
Are we going into a recession? No - we are not! We're going into
a full-blown economic depression. A recession is a temporary decline
in economic activity while an economic depression is caused by
factors that take years or even decades to recover from. The U.S.
economy didn't recover from the economic depression of the 1930s
until the 1950s.
I hope and pray I'm wrong about all this but the
hard facts are sobering - today we face a long list of unprecedented
dangers - dangers we've never had to deal with before. If present
trends continue one or more of them will soon conspire to throw is
into a painful wave of
stagflation. .
What you probably didn’t know is
that this unavoidable inflation is going to get worse – a lot
worse. It will eventually cripple our entire economy and throw us
into an economic tailspin.
According to the FED inflation is under control. But the facts tell a far
different story.
Oil sold for $20 a barrel on 9/11, now that
same barrel goes for over $120! A whopping 500% increase! And oil is still
going up - over 25% this year alone.
Uranium prices are up from $9 per pound on 9/11, to a current
prices of $125. That's over a 1,800% increase!
Copper prices went up 40% in 2006.
Some are now referring to copper as "red gold".
Soybeans are up 27% so far this
year.
And ounce of gold which sold for a paltry
$43 in 1971, now sells for over $850! Since 9/11 gold has
soared over 190%!
The leading indicator of 23 widely-traded
commodities is up a whopping 30% this year alone.
Inflation is under control? Don't make me
laugh!
Now I’m not predicting a sudden
stock market crash. Instead you’ll see a slow gradual decline – followed
by the massive unemployment usually associated with a deep economic
depression, but time we'll have high levels of inflation at the same
time.
What’s worse than an
all-out economic depression?
Inflation - By a mile!
Back in the 1970s we had a
so-called oil crisis. But back then there was plenty of oil. The
crisis was only a political one. Today prices are being driven up by
something completely different - a genuine lack of supply.
And new oil discoveries have
been few and far between. During the 1990s new oil finds brought in
only 7 billion barrels a year while world demand exploded by more
than three times that much!
Both China and India are rapidly industrializing
which is increasing world oil demand by leaps and bounds.
| During the next decade the
inevitable increase in oil prices will
drive a painful new wave of inflation unlike anything we’ve ever
seen before in this country! |
As the price of all forms of
energy explodes, you’ll be forced to adjust your lifestyle to adapt
to the new reality of living in a world with less and less oil.
On July 9, 2008 in the Wall Street Journal legendary oil
man T. Boone Pickens said:
"I've been an oil man for
almost 60 years and I've never been as worried about our energy
security as I am now."
"Now our country faces
what I believe is the most serious situation since World War
II."
Never before have we faced
anything like the risks we now face. One thing is crystal clear -
perilous times lie ahead! What will you do when inflation hits
double digit levels and your job is relocated to China? How will you
survive? How will you feed and care for your family?
For over five years I’ve been
studying past periods of inflation. I’ve read countless books on the
subject and have also interviewed scores of people who lived through the
last great depression in the 1930s.
I’ve talked with people who
lived through the hyper-inflation that hit Argentina in the 1980s. I even found a woman who could recount her mother’s
first-hand experiences with the hyper-inflation in Germany in the 1920s.
From my research I’ve collected
secret tactics and strategies insiders used to survive and
thrive
during past economic depressions and periods of hyper-inflation. These approaches worked then and they’ll work now
for one simple reason – human nature doesn’t change!
This is information you won’t
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You’ll learn how to protect
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You’ll discover how to:
Buy up
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Easily
provide
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Make
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Find
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Buy up
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Locate
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Move
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Protect your safety deposit box entirely – even from the IRS!
Stash
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Buy
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|
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|
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Sincerely,

  
|
About the Author Jim Mercer has been a leading provider of
underground financial information on the Internet
since 1995. He's a respected source of hidden
information that has helped thousands achieve
financial success in their lives.
|
Disclaimer:
We are not in the business of providing financial advice or services
of any kind. Always consult with your personal financial and legal
advisors before attempting to use any of the tactics discussed on
this site or on our publications. Do not break the law. Nothing on
this site is intended to in any way encourage illegal acts either
now or at any time in the future. This information is for
informational and entertainment purposes only. |