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THE SHIPS HAVE SAILED - THE SUN IS SETTING ON THE U.S. ECONOMY

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Enough with the Federal government’s cooked up unemployment numbers. The Fed can keep printing money and “quantitatively easing” our economy but the cold hard facts are in. America is on the decline. The U.S. fiat paper money in your pocket is no longer the world’s reserve currency. Beijing recently struck numerous agreements with Brazil and India that bypass the fiat dollar.

 

China and Russia have also set up rouble-yuan swaps pushing America’s currency out of the picture. The sole guarantor of U.S. dollars for oil is Saudi Arabia. As of today, they are fighting insurgents in Yemen who are quickly closing in on them. Oil will skyrocket. Russia and Iran’s oil based economy will reap the rewards. Russia is now the power of the north and Iran is the power of the middle east.

I would like nothing more than to tell both my young sons that their future looks bright, that their standard of living will be better than mine…but I can’t lie to them. We’re over 18 trillion in debt. We’ve already sent their money.

Today, Fed Chair Janet Yellen is scheduled to speak. Rest assured, she won’t have anything to add that will shake the foundations of Wall Street. The ship has sailed. Reality among Wall Street brokers is beginning to settle in. The pictures below are clear. They were taken in cities around the country. People from the construction and relator businesses are being hit the hardest. Another group that will be joining them are those working in the steel production and fracking industries.  

 

 



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    Total 2 comments
    • Mike

      Great post Dan, nice job. Sad what is happening and no one seems to be to concerned.

    • Dan Pind

      Kind of ironic that I wrote this story when I did. I work in the Steel Industry. Just got laid off this afternoon. But on a good note, the U.S. economy grew 2.2% in the forth quarter. Happy days are here again. Really? How long will this illusion last? I only report the cold hard facts. I speak for the unemployed who have been silenced by bulldozers and arrests. I will NEVER accept a government handout. I am a patriot of the Republic of the United States of America that once held the notion that we are the creators of our own destiny. Today, steel products imported into the U.S. are heavily subsidized. How can the American worker compete? I now share the pain that many Americans have already experienced. Pray your time doesn’t come anytime soon.

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