posted on Sep, 6 2004 @ 09:00 PM
It's true, the US owes far more money to the rest of the world than the rest of the world owes the US.
Its just like being in personal debt. But a person can be in debt and not be bankrupt if he has a job. The problem in the US is that most of the
manufacturing has now moved off shore. The US imports nearly everything these days. Most of the US jobs are in the service industry, not in
manufacturing or creating exports. While this creates income for individual Americans, it does not create income for America.
Why ? many reasons. The greenies and environmental legislation, high wage demands by Americans, tough unions, and an unwillingness by most wealthy to
invest in long term risky industries in America. If you have money to invest, why start a business and fight the unions and legislation ?? why not
just gamble it on the stock market ? Buy shares in Enron and double your money in six months without working.
Think about it. If you work in a supermarket, or in the entertainment industry, or a thousand other things, and then you spend your money on imported
goods, the money goes overseas.
This means the US is importing far more than it exports, which is why it owes so much. This is causing the US dollar to fall in value, and why
gasoline (for one thing) is becoming more expensive.
As the value of the US dollar falls, and interest rates fall, foreigners will pull their money out of American investments. This will lead to a
recession and eventually a depression.
It is a fact that the net worth of the average American is now less than zero. This has never happened before. In the past Americans saved and had
assets. Now everything is paid for with loans and credit. How much do you have in the bank ? How much do you owe ? If you sold absolutely everything
you owned, would it pay all your debts ??? Think about it.
While there are many millionaires and billionaires in America, the average guy is technically broke.
Another little illusion:
If I pick up a fallen leaf in the street, and sell it to my next door neighbor for ten cents. Then I buy it back for twenty cents. Then he buys it
again from me for forty cents, and so on for a whole year.
At any time, we can both truthfully say that every time we sell that leaf we are doubling our money. That leaf is going to make me and my neighbor
millionaires, and neither of us has to work to do it. That little leaf is the financial secret behind unlimited wealth creation............ there is
only one little problem, see if you can figure it out.
In America today nobody sells leaves, but they are selling houses and stocks to each other hoping to get rich by just swapping pieces of paper. That
little game cannot go on forever either.....see if you can figure out why.
So laugh as much as you want, reality will strike very swiftly when it comes. It is going to hit most of us that are not prepared pretty hard. And