Our Shame & Embarrassment.
Mandel Ngan/AFP/Getty Images
The U.S. national debt has become a shame and embarrassment to our country, and is now in excess of $22.2 Trillion. Never before in the history of this world has any nation piled on so high a debt load as the U.S., and it keeps on growing and growing. Read this page on the U.S. debt on Wikipedia, and watch this interview with Jim Rickards on the state of our economy, our national debt, and the reality of our financial markets.
The question many people have is, “So what does that mean to me?” It means your financial future and your children’s financial future are at stake! The value of the assets we own (with the exception of precious metals…gold/silver etc./and perhaps a few others) will not retain their value in the next economic meltdown. Right now we are enjoying the “eye of the financial storm.” To the general public, nothing appears to be wrong. There’s no financial crisis going on (yet), and life seems to be just plugging along just fine. Is it…really? If you look at the foundation of our economy, it paints quite a different picture. (Unfortunately, the foundation of the U.S. economy is debt.) Isn’t this the same perception the public had before each financial crisis including the Dot Com crisis in 2000, and most recent economic collapse back in 2008?
Back in 2008, our national debt was approximately $8.5 Trillion. It took nearly 200 years of this country’s history to pile-up $8.5 Trillion in debt. Now…Nearly 11 years later it has more than DOUBLED, mushrooming to more than $22.2 Trillion. Still think that’s OK? Or…Are we just plugging along with our financial and business senses buried in the sand?
Source: Wikipedia
So…Let me ask you a few simple questions:
- Do you believe everything is just fine financially in this country?
- How will you personally be impacted by this gargantuan mountain of debt?
- What are you doing right now to financially prepare your family and your business for the next financial crisis?
As the old saying goes, “Those who ignore history are destined to repeat it.” We as individuals need to take personal responsibility for ourselves and our financial future, now. We would recommend that you meet with your trusted financial advisers very soon, and have them explain to you just how they have guided you and have structured your current investment portfolio to protect you in the next financial crisis. If they don’t include having a significant portion of your portfolio held in precious metals (gold…physical gold, not gold stocks), then in our humble business opinion, your downside is not protected.
As we always tell our readers, “Don’t rely on others (including us!)…Think for yourselves, do your own research on the U.S. National Debt,” then compare it with the guidance from your trusted advisers. Then make your own decision and accept the consequences and responsibilities from your own choices.
GMS BUSINESS CONSULTING, INC. – provides lawyers/law firms and business professionals with Accounting Services, Business Development Services, Business Optimization Services, and Digital Marketing Services to help business professionals successfully manage and grow their businesses more effectively and efficiently. We do NOT provide investment advice. Contact Us if you are interested in learning more about our services, and in particular about M.A.P. (our 3-phase business development & management solution), designed to help you strategically focus and tactically grow your business. We would welcome the opportunity to speak with you.
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