Alex Jones reported the following information.
When the coming economic crisis strikes, more than half
the country is going to be financially wiped out within weeks. At this
point, more than 60 percent of all Americans are living paycheck to paycheck,
and a whopping 24 percent of the country has more credit card debt than emergency savings. One
of the primary principles that any of these “financial experts” that you see on
television will teach you is to have a cushion to fall back on. At the
very least, you never know when unexpected expenses like major car repairs or
medical bills will come along. And in the event of a major economic
collapse, if you do not have any financial cushion at all you will be a sitting
duck. Yes, I know that there are millions upon millions of families out
there that are just trying to SCRAPE
by from
month to month at this point. I know people who are deeply
struggling in
this economy all the time. So I don’t blame them for not
being able to save lots
of money.
But if you are in a position to build up an emergency fund, you need to do
so. We have been experiencing an extended period of relative economic
stability, but it will not last
. In fact, the time for getting prepared for the
next great economic downturn is rapidly running out, and most Americans are not
ready for it at all. The following are 14 signs that most Americans are
flat broke and totally unprepared for the coming economic crisis…
#1 24 percent of
all Americans have more credit card debt than emergency savings.
#2 13 percent of
all Americans do not have any credit card debt, but they do not have a single penny of emergency savings either.
#3 62 percent of
all Americans are living paycheck to paycheck.
#4 Adults
under the age of 35 in the United States
currently have a savings rate of minus 2 percent.
#5 More than half of all students in U.S. public schools come from families that
are poor enough to qualify for school lunch subsidies.s
#6 One out of
every three adults in the United States has an unpaid debt that is “in collections“.
#7 52 percent of all Americans really cannot even
financially afford the home that
they are living in right now.
#8 40 percent of Americans could
not come up with $2000 right now without borrowing it.
#9 60 percent of Americans could not say yes to the
following question…“Do you have 3 months emergency funds to cover expenses in
case of sickness, JOB
loss,
economic downturn?”
#10 one out of
every four Americans has enough money stored away to cover six months of expenses.
#11 The
average American household is carrying a grand total of 203,163
dollars of debt.
#12 Less than 10 percent of the entire U.S. population
owns any gold or silver for
investment purposes.
#13 48 percent of
all Americans do not have any emergency supplies in their homes.
#14 53 percent of
all Americans do not even have a minimum three day supply of nonperishable food
and water in their homes.
Perhaps none of this concerns you.
Perhaps you think that this bubble economy can persist
indefinitely.
Well, if you won’t listen to me perhaps you will listen
to former Federal RESERVE
Chairman
Alan Greenspan. The following is what he recently told one interviewer…
We asked him where he thought the gold price will be in
five years and he said “measurably higher.”
In private conversation I asked him about the outstanding
debts… and that the debt load in the U.S. had gotten so great that there has to
be some monetary depreciation. Specially
he said that the era of quantitative easing and zero-interest rate policies by
the Fed… we really cannot exit this without some significant market event… By
that I interpret it being either a STOCK MARKET
crash or a prolonged recession,
which would then engender another round of monetary reflation by the Fed.
He thinks something big is going to happen that we can’t
get out of this era of money printing without some repercussions – and pretty severe ones –
that gold will benefit from.
And as I have stressed before, the signs that the
next crisis is almost here are all around us.
For example, the Baltic Dry Index has just plunged to a
fresh record low, and things have already gotten so bad that some global
shippers are now filing for bankruptcy…
The unintended
consequences of a money-printed, credit-fueled,
mal-investment-boom in commodities (prices – as opposed to physical demand per
se) and the downstream signals that sent to any and all
industries are starting to
bite. The
Baltic Dry Index has plunged once again to new record lows and
the collapse of the non-financialized ‘clean’ indicator of the imbalances
between global trade demand and freight transport supply has the real-world
effects are starting to be felt, as Reuters reports the third dry-bulk shipper this
month has filed for bankruptcy… in what shippers call “the worst market
conditions since the ’80s.”
Perhaps you do see things coming.
Perhaps you do want to get prepared.
If you are trusting in the government to SAVE
you when
things fall apart, you will be severely disappointed.
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