U.S.- Are we facing massive wealth destruction?

It’s not just radical right-wingers who are predicting a financial crisis or posting dire videos of rioting and civil unrest online. Warnings about a financial meltdown are now being issued by well-respected financial experts such as Marc Faber, Peter Schiff, Donald Trump, and Robert Wiedemer.

According to these experts, the chaos that could soon ensue will be catastrophic compared to what many experienced in 2008 through 2010. Much of the blame, voiced by Schiff, CEO of Euro Pacific Capital, and Marc Faber, the noted Swiss economist and investor, is placed squarely on the U.S. Federal Government and the Federal Reserve’s decision to continue their policy of “quantitative easing,” which is simply a fancy term for printing money, rather than seriously addressing the issues.

Schiff and Faber have both written extensively about the upcoming global collapse and have stated on the record that their ominous prediction will happen. When Ferber was asked how likely the financial meltdown was to occur he noted he was 100 percent sure we can expect one in the near future.

Who will be affected? Most definitely citizens in the United States, who have for years enjoyed a standard of living that has far exceeded that of other other countries. Schiff noted in his recent book, The Real Crash, that not only will our standard of living fall but individuals receiving entitlements such as Social Security or government pensions may not be paid. Or if they are, their payments will be made with inflated dollars which may be worth very little.

Donald Trump has also recently voiced concern about America’s growing debt, dependence on China, and the likelihood that the United States could have their credit rating downgraded.

Author of After Shock, Robert Wiedemer, who predicts widespread economic destruction when the impending collapse occurs, even produced a video with step by step instructions on how to prepare, which has since been pulled by various online media outlets.

Ignoring the problem is not the answer

 

Author Robert Wiedemer has updated his controversial book After Shock, and he claims that his new book will be even more helpful. The book provides a grim picture of the future of America but concludes with more information about life after the economic collapse and a step by step wealth protection guide.

Wiedemer claims that the politicians continue to give the appearance that the U.S. is recovering, but unfortunately, by continuing to print money (300% increase which has not made it into the economy yet) will eventually cause massive inflation.

Aggressive inflation could become a serious problem for those who are not prepared. Raising interest rates may also not be a good solution to reduce inflation (even though this strategy was successfully used in the past) because of current reckless economic policies and the amount of debt the U.S. owes foreign investors.

Dangerous Bets?

 

Wiedemer claims the stock market could plummet and unemployment could rise. This is what Wiedemer suggests for individuals who want to protect themselves:

  1. Stay away from real estate. He claims it may not have hit rock bottom.
  2. Use extra money for shrewd investments. Paying down your mortgage should be avoided and instead use the money for investments that should increase in value.
  3. Pay off credit cards.
  4. Find a job in the “necessity sector” which includes healthcare and education.
  5. Look into estate planning and decide if you want to sell your assets now and invest them in other types of assets.
  6. Gold will continue to be a safe haven for investments. Review the smart ways to invest in gold.
  7. Avoid long-term bonds
  8. Invest in safe foreign currencies

What is the best strategy for everyone? Stay informed.

The following two tabs change content below.

Beth

Beth L. is a content writer for Better Bankruptcy. Good content and information is one of many methods we utilize to bring you the answers you need.