Review of Your Need to Protect Your Wealth Now
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Silver Snowball Preparation Today
| Why do we need middle class consumers? |
In an article written by Larry Edelson/ May 2010/ Uncommon Wisdom, three questions are posed. Could our economy suffer another downturn , can real estate prices instead of trending up begin to trend down and will we succumb to another financial meltdown? Yes was the answer to all three questions. As an avid observer of economic news I must agree with him.
Our current national economists, except for a few, lean towards an economic model of prosperity that was appropriate prior to America coming off the gold standard. One obvious result is the world’s market being flooded with American dollars as the world’s reserve currency. However because of an oversupply of dollars many countries are limiting or actually getting rid of dollar bills and are now using European currencies, increasing their stockpiles of silver and gold, and using oil reserves a form of currency.
Guarantees from our government influenced by the central banking elite prove that precious metals such as gold and silver are the only real protection against a constantly weakening dollar. While consumer prices rise in so many sectors of our economy, the really rich get richer and the poor get poorer. The middle class is disappearing.
The middle class provides revenue that drives multiple consumer purchases, demands, and multiplier spending. With the erosion of the middle class and they tax base they support many community support services will be reduced. A prime example is the state of Michigan. As the automotive and support industries disappeared the economic strength of a great state diminished. Beautiful economically stable neighborhoods have become expansive tracts of brown fields with an eroding infrastructure.
His article refers directly to the fiscal collapse of Greece, Spain, and Turkey as countries with changing economies. Mentioned is the relationship between an upswing in the price of gold and the demise of fiat currency. This will lead to a new monetary system that eliminates the dollar as the world’s reserve currency. Since our economy is now global and regional, market forces that affected the paper currency of other nations will manifest here in America. It is a matter of how fast and to what extent.
Continuing with this point of view Mr. Edelson supports his article with numerical data that sums up his ideas and concerns,
$5000 consumer purchase in 1950 now costs $44075.92
$5000 consumer purchase in 1970 now costs $27319.59
$5000 consumer purchase in 2000 now costs $6167.83
In closing he challenges people with bank accounts and all investors to reconsider their understanding of economic cycles to include the Great Depression of the 1930’s.
My summation of this information on a scale of 1 to 5 is a 4. The information presented is to the point and presents an outline of current economic trends. Each person who has a concern about their money should review as many information sources as possible. Don’t settle for information that entertains, dig for information that is informative and applicable to your financial situation and goals.
Live long and prosper.
Ronald Roberts
Please leave a comment in the comment box below. Let me know what you think about this article. Thank you.
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http://www.federalreserve.gov/
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