Glenn Beck is again talking about how the US dollar is in serious shape when other countries decide or can no longer buy off our debt. We've been living the high life here in the US off of debt. We've been living above our means. And I'm not just talking about the average Joe American. I'm mostly talking about our US government.
Most of our debt comes from over government spending. The only cure is NOT for government to create jobs but for government to shrink and stop the programs it has. #1 to go should be our huge spending oversees waging wars and maintaining our military bases in many countries we have no reason to be in. We need to be humble in our foreign policy. Unfortunately our new president has done very little different, except reverse a few high media topics, but in the end seems to be doing more of the same as the last.
Countries will stop lending to us because we've been very irresponsible and a bad investment. What's worse is the federal reserve system which could and probably will totally collapse our economy by printing too much money and collapsing the dollar.
Yes, we are passing debt to our children and grand children and great grand Children. But we are coming to the point where we aren't able to pass the debt on and WE will suffer the consequences. Because every time we push our debt into the future, the consequences of that debt come sooner and sooner.
There are solutions, but only when America understands where this problem comes from. Otherwise, the politicians will just keep doing what they've been doing which just adds fuel to the fire. Go to mises.org to learn more about how the government got us into this problem.
Be cautious and do whatever you need to, to prepare.
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