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America Rushing Towards the Greatest Economic Crisis in our History!
I have great confidence in mankind’s ability to ultimately overcome even the most extreme of crisis but at this juncture, however, America has yet to begin that arduous process. We live an unrealistic lifestyle on borrowed money and borrowed time. [As such, we are on the brink of] a looming crisis with the power to crush the U.S. economy. Unless Washington makes a 180-degree turn, we face a catastrophe that could end our way of life as we know it. Words: 870
So says the Martin Weiss (www.moneyandmarkets.com) in an article* which Lorimer Wilson, editor of www.munKNEE.com, has further edited ([ ]), abridged (…) and reformatted below for the sake of clarity and brevity to ensure a fast and easy read. (Please note that this paragraph must be included in any article re-posting to avoid copyright infringement.) Weiss goes on to say:
Massive Debt Crisis Making Headlines
America’s massive debt crisis is [only now beginning to] explode onto the headlines in warnings — the same ones for which we were scoffed at earlier — echoed by many among the political elite such as Senator Mark Warner, Congressman Allen West, and Senator Joe Manchin who have publicly warned that we are approaching — I quote — “Financial Armageddon,” … “Fiscal Armageddon” … and a “Fiscal Titanic.”
Their warnings are very appropriate and timely especially given the fact that the Congressional Budget Office (CBO) just released a new report showing that President Obama’s budget will drive the budget deficit UP an additional $2.3 TRILLION over the next ten years – and the CBO is infamous for having grossly UNDERestimating budget deficits in the past. Indeed, just a couple of years ago, in fact, CBO said this year’s deficit would be LESS THAN ONE FOURTH as large as it actually is! Such massive estimation errors ALONE are enough to explain why these Congressmen are issuing such extreme warnings!
In addition to the above, no fewer than TEN former members of the White House Council of Economic Advisers — including President Obama’s former top economic adviser Christina Romer — have added their voices to those warning of a looming economic catastrophe stating in an editorial published by Politico that unless the White House and Congress slash the federal deficit, bond investors are likely to turn on the United States, triggering an economic crisis that could — again, I quote — “DWARF 2008.”
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In 2008, Wall Street came within a whisker of a financial meltdown. Financial monoliths like Citigroup and Bank of America nearly went bust and Lehman — one of the giants of Wall Street — simply ceased to exist. Now, these top economists and Congressmen are saying, in effect, “That was NOTHING. Just wait until you see what happens NEXT!”
An “American Apocalypse” Awaits Us!
Unlike the credit crisis that triggered the last major stock market collapse … the “Fiscal Armageddon” that could “dwarf 2008″ will be intensely personal. Millions of Americans will face the specter of lost incomes … lost savings … lost buying power … lost homes … lost liberty.
In my new video presentation — American Apocalypse — I
- show you why and give you a clear plan to insulate yourself and your wealth as this historic catastrophe unfolds
- detail the three massive crises — all converging in this time frame — that are capable of changing history
- reveal the infuriating reason why you could find yourself paying more than $11 for a gallon of gasoline and over $10 for a gallon of milk
- document why you could soon see interest rates exploding into double digits … your Social Security and Medicare benefits slashed … even riots in the streets
- tell you about the self-defense investments that could triple, quadruple and more
- tell you why more than 2,000 of America’s banks are vulnerable to this crisis
- describe the $51 investment with the power to nearly quintuple your money when the dominoes fall
- give you the details on why thousands of U.S. stocks are now as vulnerable as toy balloons in a room full of razor blades and
- tell you about the investments that could make you 134.4% richer if a decline happens in the next 12 months … and 155.4% richer if it comes sooner.
DO NOT miss a minute of this shocking video: Click this link to watch it now — while there’s still time to protect your family and your finances.
Who in the world is currently reading this article along with you? Click here to find out.
Make no mistake: America is rushing headlong towards the greatest economic crisis in our history — an “American Apocalypse.”
*http://www.moneyandmarkets.com/white-house-economists-predict-crisis-to-%e2%80%9cdwarf%e2%80%9d-2008-43665?FIELD9=2 (Money and Markets is a free daily investment newsletter offering the latest investing news and financial insights for the stock market, including tips and advice on investing in gold, energy and oil. To view archives or subscribe, visit their site.)
** http://www.moneyandmarkets.com/congressmen-%e2%80%9cfiscal-titanic%e2%80%9d-ahead-43661?FIELD9=2
Editor’s Note:
- The above article consists of reformatted edited excerpts from the original for the sake of brevity, clarity and to ensure a fast and easy read. The author’s views and conclusions are unaltered.
- Permission to reprint in whole or in part is gladly granted, provided full credit is given as per paragraph 2 above.
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Crisis