Poor Man
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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 (shadowstats.com) 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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