For Americans, particularly those of the baby boom generation, it is hard to accept the idea that America is dying. Baby boomers grew up on the Pledge of Allegiance, “One nation, under God, indivisible, with liberty and justice for all.” The words for the children of the 50’s, 60’s and 70’s might as well have been, one nation, immortal.
Now, the end of America looms in front of us. It is coming. The only question is when.
The end will not be caused by Donald Trump nor Hillary Clinton. They are both symptoms of the problem. Clinton is the Queen of the Oligarchy and Trump has so many positions, it is hard to really know what he is. But neither of them will address, much less do something about the factors sinking America.
The left is already planning another stimulus plan, assuming Hillary Clinton wins the White House. They are also hoping for a “QE4” from the Federal Reserve, which will have the effect of pumping more money into the economy.
America has spent itself into poverty. The trendy libertarians love to claim that America’s wars have bankrupted the nation. The wars have been expensive, but they are not what has bankrupted this nation.
Cronyism has bankrupted this nation. Elon Musk, Tom Steyer and Warren Buffet use the government as their own personal ATM. Mass market cronyism keeps the nation broke and the big spenders in power. It isn’t just the billions in subsidies that go to the left wing billionaire bandits, it is the billions and trillions that go to fund the political-redistribution axis of fiscal evil.
No one in Washington will cut spending. It doesn’t matter who is elected this fall. No one will put the economic house in order. With the almost certainty that the Democrats will take the Senate, and the unwillingness of the Republicans to stand and fight for fiscal sanity, we will see even more spending.
But the spending problem is like the iceberg that floats in the sea. You only see ten percent of an iceberg. The real fiscal problem is not just the spending. The real problem is the unfunded liabilities.
Uncle Sam has been like the obliging fool who co-signs loans for all of his friends, relatives and neighbors. America has huge unfunded liabilities. A conservative estimate of those liabilities is $65 trillion. More realistic estimates have that liabilities north of $100 trillion. In the age of Obama, we have figure fatigue, but to put that in perspective, the American Gross Domestic Product is only $16 trillion. Or compare this to America’s tax revenue of $3.2 trillion in 2015.
Unfunded liabilities include everything from pension guarantees, which are the biggest ticking time bomb, to loan guarantees, to underfunding Social Security, Medicare and Medicaid.
To give another example, the 25 largest public pension funds are underfunded to the tune of $2 trillion dollars. The Pension Benefit Guarantee Corporation, the government’s pension insurance company, is broke. Sooner or later, probably sooner, government pensions will go bankrupt. Those pensioners will demand a government bailout of their pensions. The only problem is, there will be no money for it.
Neither Donald Trump nor Hillary Clinton are addressing these issues. All Trump wants to do is talk about anything that will get applause from his audience. All Clinton wants to do is not talk to anyone about anything.
For real Americans, the only thing you can do is to prepare. If you are retired, plan on unretiring. Learn a skill. Even if you are eighty, you can learn a skill, if you do not already have an employable skill. If you are not yet retired but looking at retirement in the next one to fifteen years, forget about it. Retirement is something the World War II generation got to enjoy.
Finally, escape the dollar. The dollar can only be held up so long. Look for assets that are independent of the dollar and that you can keep outside of the banking system. In 2013, the people of Cyprus awoke to find out they had been put into what was called the “bail in.” To help Cyprus escape its financial crisis, a portion of citizens’ bank accounts had been confiscated.
In 2015, in Greece, Greeks awoke to find out they could only withdraw a small amount of money each day from their banks. Greeks, no matter how much they had in the bank, could only withdraw 60 Euros per day.
Imagine going to your ATM and told no matter how much money you had, you could only access $60?
This is the future of America. An economic crisis is coming. Avoiding it is no longer a possibility. The only real issue is how severe will it be. America desperately needs leadership to try to mitigate the damage. But we only have Hillary Clinton, who is the Queen of Cronyism and Donald Trump, whose only interest is in losing the election this fall.
Real Americans only have one choice. It isn’t either of the major candidates.
The choice for real Americans is to be self-reliant, as our forefathers were. The choice is whether or not to listen and whether or not to prepare.