Millionaire Money Secret
Here is a closely-guarded financial secret:
SECRET: It is much easier to make fast money during hard economic times than during normal times. During economic bad times valuable assets such as houses, cars and jewelry are sold for mere pennies on the dollar. Later when the economy has recovered these same assets can resold at much higher prices.
During the last economic depression huge fortunes were made. Those who understand this secret and know how to take full advantage of it rapidly amassed enormous fortunes.
Despite the constant barrage of jolly news emanating form the White House, the sad fact is – the US economy is in a tailspin.
Hard Times Ahead!
The US airline and auto industries are sliding into bankruptcy. Employees in these industries are being forced to accept salary reductions, surrender hard-won pension and health benefits and face massive layoffs and plant closings.
The US government is now borrowing two billion dollars each and every day from Japan, Korea and China – just to keep the government in operation. Japan now holds over $700B of our debt. What would happen if the Japanese decided to stop loaning us money?
Foreigners now hold so many US dollars that the currency is now in real danger of collapse. Several widely respected billionaire investors have recently bet huge sums against the dollar.
This year (2006) the US will spend over 700 billion dollars more than we sell as a nation. This means in effect that sum leaves our country.
The US spending deficit is soaring and the numbers don’t include the exploding cost of the Iraq war and homeland security.
The war in Iraq is now costing more than a billion dollars per week with no end in site.
Personal bankruptcies are at all time record levels. Half of those are people who were forced into bankruptcy due to illness. And most of these folks had medical insurance! Despite the new highly-restrictive bankruptcy law, bankruptcy filings continue to rise.
The US health care system is approaching collapse. Dr Andrew Weil predicts the crisis will come to a head within two years. He predicts that hospitals all over the US will be forced to close as a result.
We are now spending over $200B per year on Diabetes care and another similar sum on Alzheimer’s patients. Both diseases are expanding at an alarming rate.
Social security cuts are coming. 76 million “baby boomers” are about to retire. Unless taxes are raised, the system will soon run into problems.
What will happen to the housing market when those same baby boomers attempt to exchange their larger family homes for smaller retirement condos? For the first time in US history the younger generation behind the boomers has fewer assets. What will happen to housing prices?
Along the same lines, what will happen when the boomers are forced to dump their 401K and IRA stocks and bonds on the market? Again, the younger generation won’t have the ability to buy. What will happen to share prices?
World oil production is at or near a peak. Though we won’t run out of oil any time soon, the age of cheap oil is now officially over. We will be paying much more for every form of energy over the next two decades. What happens when oil demand grows three percent while the global supply of oil doesn’t grow at all? Jimmy Carter warned us. We didn’t listen.
Get the Facts
If you want to protect yourself and your family from the coming hard times, if you want to learn how to buy up valuable assets such as cars and houses for pennies on the dollar – take a look at our new site at: www.the-coming-economic-depression.com
Source: http://www.ArticlePros.com/author.php?Jim Mercer
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