The news is so bad these last few weeks, I struggle with where to start. Some have poo-pooed my warnings and urgings to prepare and store for what I believed was sure-to-come financial upheaval. Since I started blogging about this in November of 2010, gold is now up from $1375 to now hitting $1700 an ounce. Silver was just under $28 an ounce and is now bumping $40.
Food supplies are in danger due to drought and natural disasters, not only in the U.S., but in other parts of the world where we get some of our foods. I was in Walmart the other day and was shocked to see multiple signs around the produce department stating that the supply was impacted due to drought conditions and prices certainly reflected that. The prices were over double what I normally see for Walmart produce.
Our country’s credit rating was dropped by Standard and Poor’s and more credit rating agencies are threatening to drop their ratings as well. The chairman of the Chinese rating agency, that has also downgraded the U.S., says that the world is discarding the U.S. dollar. Standard and Poor’s says it may even downgrade the dollar further! The stock market is melting on the awful downgrade news. All the while, former Fed chairman Alan Greenspan says there isn’t a problem because we can always print more money. Guess where that will take us? Straight to inflation, or possibly even hyperinflation. That sounds like a good move – NOT.
So if you’ve been paying attention to the news and politics at all in the last few months, you should have shaken yourself out of any apathy that might have been resident in you and started to think about your future. Take this as a huge wake-up knock on the head to get out of debt before interest rates rise. Buy extra food and save up money and even some silver or gold to help you weather the probable downturn our country’s financial “machine”. The machine isn’t working so well and it looks like it is going to break. I personally don’t believe the “machine” is repairable with our existing Congress and their inability to cut our deficit and spending by any significant amount.
Wake up. Smell the coffee. Things are not same-old-same-old anymore. The landscape is changing right in front of our eyes.