Fail to heed this final warning at your own risk!
Article by: Jim Peterson
Fail to heed this final warning at your own risk!
I’m a humble person who prefers a low-key profile. I have a B.S. Degree in Business Administration – Finance and a MBA Degree, both from major Institutions. I spent 8 years as a securities analyst and 20 years as a business entrepreneur. I was a Managing Director of a NYSE real estate investment trust, and I have served on the Board of Directors of several publically owned companies.
What I’m about to tell you, is so controversial; I do not want you to think it is coming from some kind of quack. It’s coming from someone with a proven track record at making economic and financial forecasts.
The economy appears to be coming back from the great recession, but if we look at the real numbers, it is not – it is slowing. Retail sales in theU.S.are running at their slowest pace in five months. After the trillions of dollars theU.S.government has pumped into the economy to revive it,U.S.corporations ended 2011 with their slowest profit growth in years.
Last year was the worst year for new home sales in the U.S.since 1963! And a glut of foreclosed resale homes still overhangs the housing market. Housing prices are set to fall again in 2012.
Government statistics indicate that unemployment is declining; this is a gross misstatement. If we consider the underemployment rate (that’s the unemployment rate adjusted to include people who have given up looking for work and part-time workers who want full times work) unemployment stands stubbornly at 17+% in the U.S. This is depression level at its worst!
U.S. Banking institutions were bailed out, but the Federal Reserve (this means “we the people”) has picked up the tab for it. This mistake of the Fed will destroy our currency and leave our economy in a mess for years.
The European debt crisis is a huge problem for American banks; their exposure is close to $1 trillion. If $1 Trillion is taken off the equity ofU.S.banking institutions, they are bankrupt again.
Many European countries are in a recession, and I believe the United States is on the cusp of falling back into a recession. Some will call it a new recession. I will call it “Recession continued as usual.”
Most analysts and economists will not say it or ever tell you the truth, so I will – The United States is bankrupt.… Continue Readiing
