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Last Updated February 8, 2010 Economic Depression Ahead!
Yesterday, February 3, 2010 President Obama announced that he would soon meet with the spiritual leader of Tibet, the 14th Dalai Lama. The date to be determined later. Chinese Vice Minister Zhu Weiqun quickly responded that the meeting would severely damage U.S./China relations and threaten trust and cooperation between the two nations. The Chinese now hold over a trillion dollars of U.S. debt and the future health of the U.S. economy is heavily dependent on future Chinese purchases of U.S. treasury securities. We badly need them to keep loaning us money. If the Chinese cut their purchases and reduce the amount they're willing to loan us, the American economy would quickly go into a tailspin.
If the Chinese choose to begin dumping their holdings of our IOUs,
the situation would be even worse. The REAL State of the Union President Obama's state of the union address didn't contain what most Americans had hoped for. There was no assurance that the so-called economic recovery was on track and would soon recover our lost prosperity. Instead Obama is doing what he's done since taking office - proposed even more economic stimulation programs. In his speech he promised more stimulus spending, a new jobs program, tax breaks for small business and a new high speed train program. (this new train program is a boondoggle as it throws the money at cash-strapped state governments, not the construction firms that can actually build the system.) He's kicking a dead horse. Though there are some feeble signs of recovery, overall the economy remains in deep trouble.
For examples, on Jan 27 it was announced that new homes sales
unexpectedly sank 7.6 percent capping the worst year on record.
New Home Sales are Down 75%! The real unemployment rate (the one that includes all the people who desire full-time employment but can't find a job) is now over 17%! The rolls of people on foods stamps are exploding. As of Jan 10, 2010 one in eight Americans is now on the program! 2010 will be a very interesting year. According to the government's own figures within two years more than half the mortgages in the U.S. could be "under water" meaning homeowners will owe more than their houses are worth on the open market. Insurance firms are shocked by the number of homes being burned down by desperate owners. Still other owners are walking away from their homes and refusing to pay the outlandish mortgage payments the banks demand. The real estate market won't be recovering for many years, perhaps decades! You can ignore anyone who tells you otherwise! FACT: 70% of our economy is driven by consumer spending. Any hope of an economic recovery depends on consumers returning to their free-spending ways. Problem is the average American consumer is tapped out, maxed out and flat broke! Consumer's credit cards are maxed out. The banks aren't lending. No longer can property owners extract cash from their rapidly increasing home equity as in the past. Banks no longer send out credit cards to anyone with a pulse. And forget all those easy-to-get mortgage loans. According to the government our consumer debt has soared to 2.5 trillion dollars! Americans have maxed out their credit cards. Banks have tightened their lending standards and are drastically reducing the available credit on their existing credit cards. According to a recent report from Associated Press, fully 40% of Californians who desire jobs can't find them. Youth unemployment is now over 25%! Those who are fortunate enough to still have jobs are scared to death of losing them. And our banks have yet to feel the full impact of our financial crisis. Banks are claiming around eight trillion dollars worth of mortgage loans on their books. Problem is, a steadily growing number of homeowners are no longer making their mortgage payments. The banks keep these "non-performing" loans on their books as assets but really they're liabilities. Banks are going to have to take multi-trillion dollar losses so it's no surprise that Fed Chairman Bernanke expects between 800 and 1,000 banks to go belly-up during the next two years! Clearly consumers aren't about to return to
their old free-spending ways any time soon. Today the American
consumer is both unwilling and unable to spend. The Enduring Real Estate Crisis Over the past few years the explosion in foreclosures was being fueled by the sudden drop in real estate prices.
But now all that has changed. Now the defaults and foreclosures are being
driven by job losses. And most economists
know that job
losses will continue right through
2010 and into 2011! Warning: Between 300 and 1,000 banks will close between 2010 and 2011! Will your bank be one of them?The stock market has soared over 50% in recent months in anticipation of a second half economic recovery. Unfortunately there will be no real recovery. The combination of continuing job losses and skyrocketing foreclosures spells serious trouble ahead. Make no mistake - hard times are upon us!
Look for the stock market to go into a tailspin or even crash during the months ahead. Look for either a sudden stock market crash or a slow painful decline. President Obama is doing all he can to avoid the U.S. sliding into a full-blown economic depression! Will we escape a complete economic collapse? Will this turn into a double-dip recession? Will all this new spending fuel a new wave of inflation? My goal isn't to alarm you, instead I want to prepare you—prepare you for what may be the worst economic collapse in our nation's history... And you need to be
ready for it! You need to be ready to
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"How to
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Once again, I urge you to download your copy now - while there's still time! And I ask you to do so without the slightest risk whatsoever. Why? Because I'm so convinced you'll be absolutely thrilled with the eye-opening knowledge, tools and astounding results you can achieve with this book, I'm offering you my... 90-Day Money-Back Guarantee If for any reason you are not totally satisfied, I'll promptly refund your money—no questions asked.
Remember, anyone can do well when times are good. But now you can be
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I know one thing: the world's most affluent pay their financial advisors huge fees to get their hands on intelligence like this. Others pay thousands to attend exclusive seminars and end up walking away with a tiny fraction of the information contained in my book. My accountant thinks I should charge at least $100 for my extensive 127-page report - given how enormously you can profit from it. And as the economic collapse draws near and demand surges (trust me, it's happening already!) the book's price will start spiraling upward.
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Your eBook Now! P.S. Remember, with my iron-clad, 90-day money-back guarantee there's absolutely no risk. If you aren't totally satisfied, I'll not only refund your money, you may keep the book and owe nothing! P.P.S. If there's one decision that can secure your financial future—no matter how far the economy sinks—this is it. Don't miss out. Opportunities like this don’t come along very often! It doesn’t matter how old you are, what your background is, who you know, how much money you have or where you live. Simply stated this is a once-in-a-lifetime opportunity – one you won’t see again. You can’t afford to let this opportunity pass you by! So don’t miss out – order today! Sincerely,
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. |
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