It is no mystery that the United States economy is struggling right now. We hear the consistent cries across virtually every medium of communication, online and offline, stating the same thing. While the causes and culprits are tirelessly up for debate by those with opposing viewpoints and beliefs, one thing we can hopefully all agree upon is that something is terribly wrong. Rest assured that you will not hear about Charlie Sheen giving his ‘winning’ approval on the US economic decisions over the past several decades. Make no mistake, if you think the US federal government is the only bad seed in this party, you’re as blind as they are. This growing fiasco has involved everybody that has ever made a financial decision; from federal and local governments to large and small businesses to the most powerful decision makers of all…everyday consumers.
The America Family Association has organized ten powerful economic graphs that put financial facts and figures into visual form. Sometimes you can quote economic statistics to people until you are blue in the face and it won’t do any good, but when those same people see charts and pictures suddenly it all sinks in. As you examine the economic charts below, pay special attention to what has been happening to the U.S. economy over the last 30 or 40 years. All of the economic problems that we are experiencing now have taken decades to develop. The sad fact of the matter is that we have been living in the biggest debt bubble in the history of the world over the last 40 years. All of this debt has purchased a wonderful standard of living for the vast majority of us, but all of this debt has also destroyed the economic future of our children and our grandchildren. Someday future generations will look back on what we have done in absolute horror.
With absolute sincerity to our great nation, my professional recommendation is to be prepared for the worst. Let’s of course go out kicking and screaming and not give up without a fight, but the writing is on the wall. Short of a miraculous recovery that takes, at the minimum, decades to complete (anything is possible), I would start thinking about how to best take care of you and your family for the remainder of your living years and beyond. It involves NOT relying on anybody else but yourself to make sound short and long-term financial decisions. It involves having a backup plan and a backup plan for your backup plan. And heck, if we as a nation get smart and make a true recovery (even if it takes 40 years), you’ll be one step ahead of the competition and able to pass down your financial wisdom and advice to younger generations.
Take a good look at these graphs and allow the information to sink in. Use common sense to determine how this has and will continue to impact your life and build a strategy on how you plan to get active in protecting yourself against the seemingly inevitable economic brink wall.
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