Month: August 2012

U.S. Debt, Obligations Now at Almost $105 Trillion  What You Should Do Now to Protect Yourself ! By Martin Weiss – Weiss Research For some Americans, everything seems “normal” right now. But if you scratch just a tiny bit beneath the surface, it’s clear we have MAJOR financial problems ahead of us — massive deficits and debts we can never possibly repay. Total interest-bearing debt in the U.S. is now $54.6 trillion, nearly four times our country’s GDP. On top of that, the U.S. government has contingent obligations exceeding $60 trillion for Social Security, Medicare and other programs. But instead of reducing these debts, or at least slowing down their growth, our government has resorted to the outright printing of massive sums of money — more than $2 trillion just since 2009. Americans have the right to enjoy the stability of a sound dollar. But that’s highly unlikely. Our massive deficits and money printing shatter every standard of stable, prudent policy established by every administration and Fed Chairman of the past century. Even some of the most liberal spenders of the past are horrified by what our leaders are doing today. They doom our currency to an intractable, long-term decline. And they raise the risks of a catastrophic collapse. Even if we can avoid the worst-case scenario for the dollar, something else must emerge to replace it, and it...