Survive and thrive during the coming economic crisis

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Last Updated  February 8, 2010

Economic Depression Ahead!

The Dali Lama of Tibet will soon destroy the U.S. economy!

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.

All this couldn't come at a worse time following China's attacks on the Obama administration's policy of selling military equipment to Taiwan.
 

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.
Overall home sales are now down a whopping 75% since July of 2005! This is particular shocking as the government's tax break for new home buyers is still in effect.

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!

When will these jobs return? Several top economists are now predicting that the lost jobs may never return. And with an ever-growing number of Americans losing their homes to foreclosure - the real estate market won't rebound for many, many years to come.

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!

By the fall of 2010 every American will
know just how bad the situation truly is!

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...

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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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