The
euro is a dying currency. On Thursday, the EUR/USD fell below 1.28 for
the first time since September 2010. In fact, as I write this the
EUR/USD is sitting
at 1.2791.
Back in July, the EUR/USD was over 1.45. But this is just the
beginning. The euro is going to go a lot lower. At this point, there
are several major European nations that are on the verge of default, the
European financial system is overflowing with debt and toxic assets,
and most major European banks are leveraged about as badly as Lehman
Brothers was when it collapsed. Most Americans simply do not grasp the
gravity of what is happening. Just because the Dow is sitting above
12000 and a few U.S. economic numbers have improved slightly does not
mean that everything is going to be okay. As I wrote about
recently,
the EU has a bigger economy than we do and they have a bigger banking
system than we do. U.S. banks are massively exposed to European
sovereign debt and European banking debt. When the financial system of
Europe collapses and the euro falls apart it is going to rock the entire
planet. So you better look out below - the euro is coming down and it
is coming down hard. After the euro implodes, nothing is every going to
be the same again.
(Read More....)
We
have all been lied to. For decades, the leaders of both major
political parties have promised us that they can fix our current system
and that they can get our national debt under control. As the 2012
election approaches, they are making all kinds of wild promises once
again. Well you know what? It is all a giant sham. The United States
has gotten into so much debt that there will be no coming back from
this. The current system is irretrievably broken. 30 years ago the U.S.
debt was a horrific crisis that was completely and totally out of
control. If we would have dealt with it back then maybe we could have
done something about it. But now it is
15 times
larger, and we are adding more than a trillion dollars to the debt every
single year. The facts that you are about to read below should set
America on fire with anger. Please share them with as many people as
you can. What we are doing to our children and our grandchildren is
absolutely nightmarish. Words like "abuse", "financial rape", "theft"
and "crime" do not even begin to describe what we are doing to future
generations. We were the wealthiest nation on earth, but it wasn't good
enough just to squander all of our own money. We had to squander the
money of our children and our grandchildren as well. America has been
so selfish and so self-centered that it is hard to argue that we don't
deserve what is about to happen to this country. We have stolen the
future of America, and yet we strut around as if we are the smartest
generation that ever walked the face of the earth.
(Read More....)
Do
not ever give up. That is one of the secrets to life. Almost everyone
comes to a moment in life when things look absolutely hopeless. But
those that have come through those moments know that there is always a
way to turn things around. When times get tough, the tough get a
backbone. Yes, a horrific
economic collapse
is coming and the world is going to become incredibly unstable. But
the purpose of waking people up and getting them to realize what is
about to happen is not so that they can shiver in fear. When a military
unit gets intel that indicates that the enemy arrayed against them is
far more powerful than previously thought, do they give up all hope and
run away like little girls? Of course not. Instead, they use that
intel to prepare for the coming battle. Only cowards give up. When you
totally give up, you lose everything and the enemy wins. Our life does
not consist of what we own anyway. If every single thing that you own
was taken away from you, would your life be over? No! When we leave
this world, we will not be remembered for what we owned. Rather, we
will be remembered for how we lived.
(Read More....)
Do
you believe that 2012 will be more difficult for the global economy
than 2011 was? Well, that is what German Chancellor Angela Merkel
believes. The woman that has become the most important politician in
Europe
recently declared
that 2012 "will no doubt be more difficult than 2011". The funny thing
is that she has generally been one of the most optimistic public
figures in Europe throughout this debt crisis. But now even Merkel is
openly admitting that 2012 is going to be a really, really bad year.
Sadly, most Americans simply do not understand how important Europe is
or how interconnected the global financial system has become. The
United States actually has a smaller population and a smaller economy
than the EU does. In fact, the EU has an economy that is nearly as
large as the economies of the United States and China combined. The EU
also is home to
more Fortune 500 companies
that the U.S. is, and the European banking system is far larger than
the U.S. banking system. Anyone that does not believe that a financial
collapse in Europe will have a devastating impact on the U.S. economy is
living in a fantasy world. Americans better start paying attention to
what is going on over there, because we are about to be broadsided by a
massive financial tsunami originating out of Europe.
(Read More....)
Once
upon a time, the United States had the largest and most vibrant middle
class that the world has ever seen. Unfortunately, that is rapidly
changing. The statistics that you are about to read prove beyond a
reasonable doubt that the U.S. middle class is dying right in front of
our eyes as we enter 2012. The decline of the middle class is not
something that has happened all of a sudden. Rather, there has been a
relentless grinding down of the middle class over the last several
decades. Millions of our jobs have been shipped overseas, the rate of
inflation has far outpaced the rate that our wages have grown, and
overwhelming debt has choked the financial life out of millions of
American families. Every single day, more Americans fall out of the
middle class and into poverty. In fact, more Americans fell into
poverty last year than has ever been recorded before. The number of
middle class jobs and middle class neighborhoods continues to decline at
a staggering pace. As I have written about previously, America as a
whole is getting poorer
as a nation,
and as this happens wealth is becoming increasingly concentrated at the
very top of the income scale. This is not how capitalism is supposed
to work, and it is not good for America.
(Read More....)
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