There are now countless warning signs all around us on a daily basis that the U.S. is headed for a complete societal collapse. Words: 573
So says the National Inflation Association (www.inflation.us) in a recent article* which Lorimer Wilson, editor of http://www.munknee.com, has reformatted into edited […] excerpts below for the sake of clarity and brevity to ensure a fast and easy read. (Please note that this paragraph must be included in any article reposting to avoid copyright infringement.)
The National Inflation Association (NIA) goes on to say:
1. Further Quantitative Easing Coming
[The Obama Administration is intimating that] more government spending and less taxes [are needed] as a way to bring down unemployment [but NIA believes that such action] equals massive inflation. Unfortunately, inflation is still the last thing on Washington’s mind because they don’t see it yet. NIA believes [it is just a matter of time before] the Federal Reserve does, [in fact,] implement the mother of all quantitative easing and causes a massive sell off in the U.S. dollar.
2. An Explosion in Budget Debts is Coming
Even though we might not see massive across the board price inflation at this time, gold and silver prices… are indicating that the U.S. is headed for an explosion in budget deficits that will rise far beyond what it can pay for through borrowing. [In fact,] leading Chinese economists are now calling Japanese debt less risky than U.S. debt and, with the Japanese savings rate in decline, the U.S. will soon have nobody left to borrow from. The only option will be monetization and already the Federal Reserve is getting ready to buy $10 billion to $30 billion per month in U.S. treasuries to keep its balance sheet at inflated levels.
a) A Major Increase in Medicaid Expeditures is Coming
There are now 50 million Americans on Medicaid and the recently enacted health care bill will add 16 million more beginning in 2014. Annual Medicaid costs rose 36% over the past two years [so imagine what the increased costs will amount to thereafter.]
b) Unemployment Insurance/Food Stamp Expenses Are to Remain High
It is impossible to have an economic recovery when jobless benefits are encouraging Americans to stay unemployed. U.S. unemployment insurance spending has nearly quadrupled since 2007. Even food stamp costs have surged 80% over the past two years.
Once Americans get used to receiving and relying on government entitlement programs, it is hard to wean them off of them. NIA has been hearing reports from members with friends who say they will only “come out of retirement” if they can find a job that pays $25 per hour or more, because with anything less it wouldn’t be worth losing their jobless and food stamp benefits. Americans expect to receive their jobless benefits forever and we are sure Obama will continue to extend them leading up to the 2012 election.
[Yes indeed,] there are countless warning signs all around us… that the U.S. is headed for a complete societal collapse. [Got gold – or silver?]