Thursday, September 22, 2011

A very sobering video.

You need to watch this video. This is a report by a well-respected investment and economic analyst which basically confirms things we have worried about here for a long time: loss of the American Dollar as the world's reserve currency and the terrible hyperinflationary results that will follow in the US. We've talked about everything he discusses. And he's a very rich and influential guy. Listen to him.

Stansberry's Investment Advisory

Ignore it at your own peril.

Of course, there are some caveats. The author is a right-wing republican, so he blames "taxes on corporations" and "regulations" (meaning health, safety and environmental laws) instead of the elephant in the room: the endless wars and the military industrial complex. (And he does pitch some not-really-free booklets and pitches his investment firm at the end.)

Alternately, if you hate long videos, you can read this article posted today at Market Oracle. The title is, and I quote: Monetary System in Ruin, Signals of Systematic Collapse.

Either way, no matter what we overspent on and what has hindered living wages, the end result will be the same. It's inevitable at this point. We owe far more than what we can pay. How we got here is no longer relevant. The outcome would be the same if we did actually spend all the money on the sick and poor. The fact that we spent it on economic imperialism and warmongering is water under the bridge. The debt itself, no matter how we got here, is now itself a staggering problem.

And the effects of this are going to hit America hard. Believe it.

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