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Saturday, April 12, 2014

Dire Predictions Signal End of Dollar in 2014

Poor Man Survival
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Dire Predictions Suggest 2014 Will be the End for the Dollar


Across many fronts, Washington is emerging in the world’s eye as duplicitous, untrustworthy, and totally corrupt.

Former Undersecretary of the Treasury Paul Craig Roberts suggests that there are only two possible outcomes given our dilemma –World War Or The End Of The Dollar – neither of which bodes well for global economic, financial, social and political stability.Earlier this week economic strategist Marc Faber warned that some time in the next 12 months the U.S. stock market will experience a crash worse than the massive drop seen in 1987.

He’s not alone. Many contrarian economists seem to agree. And given the state of economic and geo-political affairs they could well be right, much to our detriment.

As John Williams ( has made clear, the US economy has not recovered from the downturn in 2008 and has weakened further. The vast majority of the US population is hard pressed from the lack of income growth for years. As the US is now an import-dependent economy, a drop in the dollar’s value will raise US prices and push living standards lower.

All evidence points to US economic failure in 2014, and that is the conclusion of John Williams’ April 9 report.

On the domestic front, the much touted economic recovery is in significant danger of being revealed for the illusion that it really is. Nationwide home sales, for example, have dropped off in record numbers in the last few months and a report released yesterday morning indicates that mortgage originations are as bad today as they were just before the Lehman crisis of 2007. Couple that with a jobs market that is at best stagnating and at worst completely falling apart, and you can probably deduce that if there is any economic growth at all taking place it is about to come to a standstill.

What’s coming in short order isn’t just a result of lackluster job growth, or consumer spending, or a degradation of America’s economy.

The leading developed nations of the world no longer trust the United States and America’s status as the “world’s only super power” is being challenged on all fronts.

Internationally, the world is fed up with The Fed and the U.S. government’s unabashed debt growth. China, Russia, Iran, India and a host of other countries are establishing trade relationships that are bypassing the U.S. dollar altogether, a move that will soon see the world’s reserve currency lose purchasing power and status. In anticipation of this imminent collapse gold is being hoarded by private and public entities from Berlin to Beijing in an effort to preserve wealth before the Tsunami hits.

The Poor Man has been writing of these economic trends since 1999…

Tired of seeing your standard of living hijacked? Fight back!

If you would like to learn more about the US economy's phony foundations, how the whole mess will come crashing down, and what you can do right now to protect yourself, consider reading our NEW book…How to Survive the War on the Middle Class.


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