End of the American Dream
2011 is shaping up to be a really bad year for the U.S. economy. There are all kinds of indications that big trouble is ahead. So far financial markets are weathering all of the chaos around the world fairly well, but just as there were huge flashing warning signs before the 2008 financial crisis there are also huge flashing warning signs now. The price of oil is soaring, the U.S. housing market is experiencing huge problems, the cost of living in America recently hit a new record high and each week the globe seems to become even more unstable. How much pounding can our fragile economic system take before it completely collapses? As the price of oil goes even higher, it is going to cause economic growth to slow down and it is going to cause the prices of the things that we all buy at the stores to go up at the same time. It is very likely that we are entering a period of "stagflation" similar to what we experienced in the 1970s. This is going to cause a huge amount of money trouble for millions of American families. Already there are vast numbers of American families that are barely making it every month. Tens of millions of Americans are already receiving government assistance. So what is going to happen when the next financial crash happens and we experience yet another major economic downturn? (Read More.....)
