It Cant Happen Here!
Many people believe that it cant happen here. What they are saying is that they believe that the United States can not fail economically.
There is compelling evidence that suggests that we should tread lightly with these words.
This website has several pages devoted to reviewing the current (and historical) economic/financial health of the United States and of the world.
It also covers what could happen (and why) to the economic system if we continue on the path we are currently on.
Below are pages to assist you in learning whether it can happen here or not.
Fiat Currency Failures
Fiat currency failures are almost inevitable. Government’s power to print unlimited sums of money creates the danger of fiat currency failures.
The temptation for perceived prosperity (more money in the hands of the public) and increased political power in exchange for later inflation, or hyperinflation is a dangerous and seductive siren.
United States Currency Devaluations
There have been many United States currency devaluations though the past 235 years. To gain an understanding of what can happen in the future economically for us it is worthwhile to take a trip to the past.
This section covers some of the significant times the United States Currency Devaluations occurred and why.
Beyond the fact that the US already have had several devaluations in the past 235 years, the current spending of the Government is nothing less than scary.
For example, here are just a few of the scary financial statistics (according to the US Debt Clock) as of April 21,2013:
• The US National Debt is currently $16.8 trillion and growing. That is $53,269 owed by every citizen in the US!
• The US Federal Spending is ~ 36% greater than the US Federal Tax Revenue. That is like spending 36% more than your income each year. How long can this last?
• Total unfunded liabilities from Social Security, Prescription Drugs and Medicare are $123 Trillion dollars. That is a unfunded liability of over $1,000,000 per taxpayer.
These numbers are staggering and getting worse by the month.
Note: When you read this article check out the debt clock and see how fast the debt is increasing from the amount shown here!
What can you do?
What can you do to help yourself financially?
That is what the remainder of
Financial Planning Techniques
is all about. You will find many powerful ideas on how to take control of your finances, generate additional income and invest in this strange new economy.
Start by reading
It is a tactic that has been used throughout the centuries during extremely uncertain economic times. The more unstable the economic times, the more wealth should be kept outside of the financial system.
It cant happen here would be a good thing. However, indicators are compelling that there is a growing economic storm on the horizon.
Return from It Cant Happen Here to Bad Monetary Policy