Our Economic Condition

Although our government is the largest business in the world, what many Americans are unaware of or unwilling to face is that our government, and therefore our nation, is now officially bankrupt. The last 40 years has seen our government’s indebtedness grow beyond comprehension.  At the time of this writing, our country has gone from being the largest creditor nation to being the largest debtor nation in the world all within a time span of less than 50 years!  Today, we have a total national debt of over 15 trillion dollars (national deficit and debt are one of the same), which equates to $43,000 per person or $215,000 per household of five. Already, the interest payment on the national debt is the largest item on the federal budget by far. Yet, this is only the tip of the iceberg.  At the time of this writing, (1/12) we can add another….

1)  $1 TRILLION needed to bankroll the new Obama           healthcare plan.

2)  $1.36 TRILLION from the U.S. Federal deficit.

3)  $4.12 TRILLION owed to foreign investors (for             example, we owe $2.1 trillion to the Chinese in          treasury bonds that they have cumulatively                purchased)

4)  $6.27 TRILLION in cumulative deficits projected         over the next 10 years.

5)  $110 TRILLION of unfunded liabilities in Social            Security, Medicare, Prescription Drug benefits           that will need to be paid out in the very near             future. 

Today, America’s total debts and forward liabilities equals 136 TRILLION DOLLARS!  This amount is so staggering, so overwhelming and so shocking that it literally defies comprehension.  Worse, we do not even have the assets available to liquidate this debt If we took the value of all personal wealth of Americans (houses, cars, savings accounts, etc), corporate assets, small business assets, commercial real estate, and even non-profits, we would come to a total of approximately $74 trillion. Subtracting out the difference, we would still be in the hole for $62 trillion dollars!  Each man, woman and child in our country would have to give $199,845 over and above our assets to eradicate this deficit!  In other words, a family of five would have to give the government $736,249 to liquidate this debt.  So, if the taxpayer where ultimately required to pay the total due, the typical American household family of five would have to cough up over $951,249, nearly a MILLION DOLLARS!  And mind you, this is for every household in America!  Incidentally, by the time you read this chapter, it will easily be over $1,000,000!!

Excerpt from Chapter VIII. "The Coming Global Economic Collapse" in the book  Signs of the Coming Messiah in This Generation
The "Event"
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Note:   Links underlined below are active whereas those without underlines are under construction.
Breaking News from Larry Edelson's Real Wealth Report!

I had quoted an interview between Larry Edelson, Martin Weiss (Larry''s publisher) and Richard Mogey, Research Director for the Foundation for the Study of Cycles in my book Signs of the Coming Messiah in This Generation, predicting that a "Perfect Economic Storm" would come in 2012 to cause serious financial havoc.

Here is Larry's latest update from his Real Wealth Report given on February 2012...

"The next three years will make every crisis of the past few decades look like a Sunday afternoon walk in the park.  Every one of them, from the soaring inflation of the 1970's...and the 1998 Asian financial meltdown...to the tech wreck of 2000...and even the real estate crash of 2007 will pale in comparison to the turmoil the world wil go through over the next few years.

Make no mistake about it: As I warned my publisher Martin Weiss as far back as 1998 - and repeatedly since then -starting with the year 2012, the world as we know it will cease to exist.......the global monetary system will come unglued......a sovereign debt crisis will envelope the globe...and all conventional economic and financial logic will be turned virtually on its head."

(Again, as I have mentioned in the past, Larry Edelson is a secular financial analyst. His concerns and prediction relative to this debacle is absolutely uncanny. However, he understands that if you have as grave of an economic deficit condition as outlined on the article to the left, such an outcome can only be expected.)
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