I used to think Carter was the worse Pres since Hoover but Obama has him beat. 4 more Obama years will destroy America.
Just read a great book by a group of economists who actually predicted the burst of the housing bubble in this country. Dire predictions for 2013...
1. We are on the verge of the next Great Depression, as our debt and continued borrowing is still outpacing growth in the economy by several percentage points. This isn't hyperbole, it's FACT.
2. We could be looking at 50% unemployment.
3. We could be looking at 90% losses in the stock market.
4. We could be looking at further degradation in the value of our homes.
5. We could be looking at some life insurance companies going bust.
Their reasoning makes sense... the Fed continues to print money, and in fact Obama's top economic guru, Paul Volker, is calling for further monetization of our debt... to the tune of 8 to 10 TRILLION dollars. This the economists call "insane".
The plain fact is, we will be looking at, according to these economists, 100% inflation, interest rates skyrocketing, and a bond market that loses at least 50%.
- If you own a home at a low fixed rate, do NOT pay down on the principle, but rather, find better value instruments to utilize with your extra resources ( they like gold, silver, and platinum, and feel it will continue to increase for approximately 10 years while the world economies struggle... after which it will also tank). I found this very interesting.
- Stay away from whole life insurance.
- If feasible, sell your home now if you had planned it in the future, as home prices will decline.
- Pay down all extraneous debt... credit cards and car loans, and don't take on any additional debt.... all interest rates will be rising faster than Anthony's Wiener, and you will get hurt by it.
- Trust laws are certain to change, as will the inevitability of raising taxes on the middle class in every conceivable way... they say IF YOU HAVE RESOURCES YOU WISH TO PASS ON, PUT YOUR MONEY IN AN IRREVOCABLE TRUST, AND GIFT AS MUCH AS FEASIBLE TO YOUR KIDS NOW.
- They prefer buying precious metals as ETF's or mining stocks, and right now.
- If you can put some of your retirement incomes into Roth Tax-Free investments, DO IT NOW.
- Don't invest a dime in Real Estate just yet... the market is going to decline still.
And now MY personal recommendation... DON'T EVEN THINK ABOUT VOTING AGAIN FOR THE IGNORANT SOCIALISTS WHO PUT US IN THIS PICKLE.