FTMDaily News Wrap – Time for “Operation Twist?”
Despite trillions of dollars in stimulus and Washington’s hype over a “recovery”, the economy is still barely growing in most parts of the country.
Weekend Roundup: A Brief Update on the U.S. Downgrade
While I am on the road this weekend, I am keeping a close eye on the unfolding drama in the global economy. After the S&P’s decision to downgrade America’s credit rating, things are certain to get interesting this week.
U.S. Braces for Possible S&P Downgrade
Editor’s Note: As stocks see their worst week in almost two years, the rating agency Standard & Poor’s may be getting ready to downgrade the credit rating of the United States government. This is no surprise to us. In fact, two days ago, the U.S. public debt shot up over 100% of GDP, according to a news story from AFP. This puts the U.S. in the same category as nations like Japan, Greece, Italy and Ireland, to name a few. Also, Moody’s announced that the U.S. needed to lower the debt-to-GDP ratio to 73% by 2015 in order to ensure the sustainability of the AAA credit status.
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$2.4 Trillion: The Largest Debt-Limit Increase in U.S. History
Editor’s Note: The debt compromise which passed the House on Monday evening with a vote of 269-161 is the largest debt-limit increase in U.S. history. In essence, the Federal government just got a blank check. This is no surprise given our current economic state. Despite months of pushing the “Recovery is here” propaganda, even the most crafty of politicians cannot hide the real economic truth from the American people. The ship is sinking and everyone is beginning to notice. With this new debt deal, Washington has at least given itself enough breathing room to glide through the 2012 Presidential election year. The can has been kicked down the road yet again. Really tough decisions lie ahead. It will come in the name of “sacrifice.” It will take the form of higher inflation, slashed spending, and finally gargantuan tax hikes. As I have been saying for years, you must prepare. You have no choice. Don’t fall for the mainstream media’s “blame game.” Right now, it does not matter who is to blame. Wake up from the “Conservative-Liberal” deception. When the Titanic is sinking, the first thing you do is grab your life boat. There will be a time for sorting out the details and placing blame later. The unprepared will remained focused on the politics of the matter. The informed will spend their valuable time preparing their financial gameplans. Its time to turn down the noise and get busy creating a plan.
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Visualizing the U.S. National Debt: Debt Stacked in $100 Bills
This weekend, I ran across this unique presentation that attempts to visualize the U.S. National Debt through stacks of $100 bills.
Money As Debt – A Full Length Documentary
Friends, you often hear me talk about the fact that America has a debt-based monetary system. But what exactly does that mean? Watch this video to see how money is debt.
“Last-Minute” U.S. Debt Deal – What to Expect Now
What a surprise! After the mainstream media forced you to watch hours upon hours of coverage on the staged debt ceiling “crisis,” Washington somehow found a way to save their own hides, and pull off a “last-minute” debt deal.
Here’s what to expect now…
Friday Reader Q&A: Should I Be Concerned About the U.S. Debt Ceiling?
Q: Jerry, I recently found your book, Bankruptcy of our Nation, while browsing at my local bookstore. I am so glad that I have found you as you seem to be saying so much of what I am feeling deep down. I am almost 58 years old and have a large amount of money in a traditional IRA. I am very concerned about how the current debt ceiling crisis is going to impact it, and my retirement. Should I cash out now and move everything to precious metals and other hard assets? Thanks from a new reader and listener. (Don G., Newark, NJ)
CLICK HERE TO READ JERRY’S ANSWER…
Social Security to Worried Seniors: ‘We don’t know’
The risk of a U.S. default has incited panic among many older Americans, who are now calling the Social Security Administration to find out what’s going to happen to their monthly benefits if the debt ceiling isn’t raised by Aug. 2.
In response, the Social Security Administration has posted very specific instructions on its web site for how the representatives who are handling inquiries from the general public should respond.
The script is short, to the point — and not very comforting: “We’re sorry but we don’t know.”
Do You Have a Financial Blueprint For Your Future?
Whether it is a lack of time, money, or interest, we seem to like to “wing it” when it comes to our financial future. Fortunately, we don’t have to have the intellect and expertise of an architect to take steps to blueprint the kind of financial future that we want. It really takes just a short amount of time to key into the “desires of our heart” (Psalm 37:4). It begins with financial goals.
Want to Understand the Madness in Washington? Look at the Incentives
Washington continues to fail on a debt deal. The simple goal for Washington right now is to pass a deal that will reduce the deficit. Washington leaders only have one incentive: re-election.
New Government Study: ‘Difficult Choices’ Ahead for Retirees
After years of falling for the consumption trap, many aging boomers are now realizing that their dream of an early retirement is just that… a dream.
Unemployment Picture Remains Ugly
Editor’s Note: As the month of June comes to a close, the unemployment picture in the United States is still bleak at best. A news story from Reuters indicates that this week marks the 12th straight week that jobless claims were above “normal” or stable levels. We are not surprised by the unemployment levels, and in fact, we believe that the numbers are much higher than the government reports. We expect unemployment to remain high as economic conditions continue to worsen for the nation.
Dollar Will Lose Global Reserve Currency Status, Says Central Bankers
Editor’s Note: In Jerry Robinson’s book, Bankruptcy of Our Nation, Jerry forecasts that by 2020 the U.S. dollar will lose its global reserve status. There is more and more news that points to this forecast becoming reality. As the world recognizes the economic problems in the United States, they will gravitate toward safer currencies in the years to come.
The Current State of Retirement – This Week’s Financial Strategy with John Bearss
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In this week’s Financial Strategy segment, we’ll be joined by Retirement Specialist, John Bearss, in a special extended interview. Jerry will discuss with John the current state of retirement. Our discussion will include some key ideas and strategies for those nearing retirement to consider.
Americans Spend at Weakest Pace in 20 Months
Editor’s Note: There is more dreary news coming from an economic report released today by the Associated Press. Consumer spending is at its weakest pace in 20 months, unemployment is up and the stock market was down last week. We expect more bad news to come out as the month closes and the Fed’s QE2 program comes to an end.
Making Money in Real Estate in 2011
According to the National Association of Realtors, all-cash buyers accounted for 30% of existing home sales last month. That’s up from 25% in May 2010, and 12% two years ago. If you go back to March of this year, cash buyers made up an astounding 35% of all existing home sales.
Housing Crisis Worse than Great Depression: 7 Shocking Facts About the U.S. Housing Market
Unless you have been asleep for the past several years, you know that the United States housing market is in the midst of a downturn of historic proportions. According to Case-Shiller, one of the leading housing data analysts, housing prices dropped 1.9 percent in the first quarter of 2011, revealing evidence of a clear double-dip in prices. The fall in prices even led one economist to claim that the housing crisis has been larger and faster than the one during the Great Depression.
Cost of Living Soars as Inflation Rises Most in 3 Years
Editor’s Note: Today’s rise in the CPI numbers are the inevitable outcome of the Federal Reserve’s “easy money” policies. Rising consumer prices are still in the warm-up phase. We expect inflationary pressures to continue to threaten the U.S. economy with full blown hyperinflation remaining a “real and imminent” threat over the next 12-18 months.
Clinton in Talks About Possible Move to World Bank
Secretary of State Hillary Clinton has been in discussions with the White House about leaving her job next year to become head of the World Bank, sources familiar with the discussions said Thursday.
The Decline and Fall of the American empire
The economic powerhouse of the 20th century emerged stronger from the Depression. But faced with cultural decay, structural weaknesses and reliance on finance, can the US do it again?
Report: Chronic unemployment worse than Great Depression
The unemployed have, on average, remained unemployed longer than in the 1930s; Employers wary of job gaps in resumes
Random Thoughts on the U.S. Economic “Recovery”
Stocks are getting hammered today after U.S. companies added fewer employees than forecast in May. Here are some of my random thoughts on the U.S. economic “recovery.”
Food Prices Surging at Highest Rate in Over Two Decades
Corn futures are up 98 percent, wheat gained 67 percent, raw sugar advanced 44 percent, and rice jumped 25 percent.
The Future of Oil and the End of the Dollar
My basic thesis is that the U.S. is an empire in decline. In the past, it has made some brilliant moves that secured its place as the supreme economic, political, and military leader of the globe. But in its twilight years, America has fallen prey to the common trappings of empire: military overreach, an entitlement mindset, and currency depreciation.
America’s Petrodollar System: A Timeline of the Rise and Fall of the U.S. Dollar
When will the U.S. Dollar collapse? Here’s a brief timeline that summarizes the rise and fall of the U.S. Dollar. It also details the decline of the dollar due to the petrodollar collapse.
Bankrupt U.S. Government Now Raiding Pensions
In typical fashion, Republicans and Democrats are using the debt ceiling debate to get the upper hand politically in today’s headlines. While “Rome” burns, the lipstick is carefully being applied to the pig.
What a Hamburger Can Teach Us About the Coming Dollar Collapse
To help understand the faltering petrodollar system, I often use an illustration about a hamburger stand. Here it goes…
SHOCK: Irish Government Raids PRIVATE Pensions To Pay For Spending
Editor’s Note: Ireland is in a tough financial spot. Unlike the U.S., it cannot simply print money to spend its way out of economic pain. So, with relatively few options, the Irish government is turning on its own citizens. Throughout history, governments have often sought to plunder the wealth of their own citizens through confiscation when they run out of options. It will be interesting to see how the citizens react to this one. Trust me, other governments with similar economic problems will be watching closely too. If little resistance is seen, expect more of this around the globe. It is because of stories like this one that I have been warning for years for Americans to keep their retirement funds diversified. 401k’s and traditional IRA’s are where Americans have been “trained” to store the majority of their retirement funds. For those of you who are interested in creating multiple streams of income in retirement, we are working hard to release a product just for you soon. Stay tuned!
Meet the System That Will Collapse the U.S. Dollar
The coming breakdown of the global petrodollar system will result in the total and complete collapse of the U.S. Dollar. And yet, very few people have even heard of this system, let alone understand it.
New Study: Americans Raiding Retirement Funds Early
Nearly one-fifth of full-time employed Americans have raided retirement accounts in the past year to cover emergencies, according to a national Bankrate survey.
Guest Editorial: My 401k Dilemma
In 2008, our country went through a major financial meltdown. I stood there and watched 17 years of savings diminish. Half of my 401k was gone and my retirement plans went out the window. In September of 2008, I stopped my 401k contributions. I realized that some other plan was needed. As long as people in Washington are salivating over my retirement accounts, I will not contribute one more dime! I would rather buy silver, gold, and other commodities. I would rather be in control of my own retirement. The last thing I want to do is to depend on the government for anything.
Diversifying with Foreign Currencies: 9 Currencies That Are Outperforming the U.S. Dollar
In this article, I will introduce the concept of using foreign currencies for savings diversification and will discuss nine currencies that have outperformed the U.S. Dollar.
FTMQuarterly Newsletter – Spring 2011 Issue (PDF)
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The DSL™ Savings Strategy 101 – Diversification With U.S. Dollars (Part 1)
Welcome to a new financial teaching series on our DSL™ Savings strategy. In this first teaching article, I will briefly explain some of the various ways in which you can hold your one-third in U.S. Dollar denominated dollars when using our DSL™ Savings strategy.
Fundamental Changes Coming to Unemployment Next Year
With federal extended unemployment benefits coming to an end this year, some states are getting creative about moving people off the public dole.
Riots Engulf Central London as Budget Cuts Come Into Effect
A labor union led protest march in Central London turned violent Saturday as a small group of protesters rioted following the peaceful rally.
How to Borrow Money From Your Cash-Value Life Insurance Policy
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One of the main benefits of borrowing from your cash value life insurance policy is that the loan proceeds are generally not subject to income tax. But there are some caveats…
7 Economic Consequences of a Dollar Collapse
What would happen if the U.S. Dollar were suddenly dropped as the world’s reserve currency? Here are 7 economic consequences of a dollar collapse.