What I am saying is this: this time it’s different. This time, the fractional reserve banking system has shot its wad. It is begging for ever-larger handouts from the Treasury Department, which needs central bank fiat money to bail out the economy. The public is accepting this grudgingly, and the academic economists are cheering, but the reality is this: this time it’s different. You had better adjust your portfolio, your career plans, and your retirement plans accordingly. FULL ARTICLE
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3 comments ↓
A house of cards can only stand for so long. Eventually this thing is going to come crashing down, and I’m sure this is just the beginning.
I read this understood most of the meat of the article…I have just one question: what is the middle class working person ( who still has a job) is supposed to now ? save what they can ? pay off any and all debts as fast as they can ? Does the author have ideas or suggestions to help the fiscal ignoramuses that worked for a living, laying the bricks, climbing the steel,and pouring the concrete to help make those towering infernos of the banking and wall street called home ?
That’s a really important question, Steve – one that I don’t think is addressed here enough!
I think the first step is to recognize what’s caused our problems, and that’s too much spending, too much borrowing and debt, and too much inflation.
Each one of us can control, to a point, the first two. We can cut back as much as possible on our spending, and try to increase our savings. We can cut out everything but the essentials and go from there.
As far as the inflation, well the government is running wild with that. Therefore, we need to realize that what little money we have now is going to be worth less and less and less in the future, and it’s going to be really significant.
Some ways to protect against that are getting out of the US dollar as much as possible and buying gold and silver.
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