I see an economic diasater coming...

[triffid]

Myth: Social Security funds are running dry, so I should collect as soon as possible
The most recent government-issued report projects that Social Security will run out of funding by 2033. This is earlier than previously expected, but doesn’t necessarily mean Social Security will be gone in 20 years. It means system revenues won’t be capable of paying 100 percent of promised benefits under the law. The Social Security Administration estimates that benefits could be reduced by 22 percent at that point and may continue to decline if Congress doesn’t intervene.
Meanwhile, an increasing number of Americans are taking Social Security at the minimum age of 62, according to SmartMoney. But experts insist that it pays to wait. For each year you hold off on collecting Social Security after reaching full retirement age â€" which is typically age 66 for baby boomers â€" you’ll get an 8 percent increase in benefits. So waiting till 70 means about a third more income.

[triffid]

In Brazil in 2004

Ultimately, inflation exploded to over two
thousand percent. That’s when the government got
so desperate it summarily froze everyone’s bank
accounts and confiscated their savings.
One computer programmer said: “Sure, the
government eventually gave us all our money back.
But they replaced the old, nearly worthless
currency with a new currency that was worth even
less. Millions who had savings wound up with
virtually nothing.”
And all of this was only a small part of the
want and humiliation the people would suffer. In
the end, the people were doomed to decades of
intense financial pain, shame and lost personal
liberty. Unbelievable? Well, I can assure you every
one of these stories is true .

[triffid]

From martin weiss:

 The median wealth of U.S. families has plunged more than 30%!
 Nearly a third of American families are underwater on their mortgages!
 The official unemployment rate remains stubbornly above 8% and has been there ever
since February 2009, the longest stretch in the 64 years the government has been
keeping track!
 Broader definitions of unemployment give you a true rate of 22.9% â€" and almost onethird of those unfortunate enough to have lost their jobs have been out of work for more
than a year. That’s the worst in U.S. history!
 A staggering 43.6 million Americans, many formerly from the middle class, are now living
in poverty â€" more than at any time since the government began keeping records!
 Nearly one-fifth of U.S. household income now comes from government assistance of
some kind!
 Lastly, a record one in seven Americans is now living on food stamps!

[triffid]

Q. What kind of impact do you see from the outcome of the presidential election on our
country’s debts and deficits?
A. Virtually none, unfortunately. The Fiscal Cliff looms regardless of who wins. And despite
the tax hikes and spending cuts, history proves that U.S. debts can grow rapidly under both Republican and Democratic administrations. That’s especially true today with the Fed enabling the spending addicts in Washington by pegging interest rates to the floor. When will that change? Only
when investors rebel and start dumping bonds, because of our debt problems, will politicians be
forced to truly reduce deficits.

[triffid]

From martin weiss



More recently, we warned our Safe Money members that the bailout-crazed policies of governments around
the world â€" and the massive surge in government debts â€" would transform the PRIVATE credit crisis into a
SOVEREIGN credit crisis. Sure enough, we’re now seeing entire COUNTRIES pushed to the brink of failure,
rather than just banks!




So it should have been the banks that failed,now its whole countries!triffid