Debt Crisis?
Majority of people look at our multi trillion dollar debt and do not think much more than "Thats crazy," but think nothing of the real life consequences that we will soon be forced to address.
Background:
The United States economy is propped up by the dollar's strong status enforced overseas. Don't believe me? Explain to me, why does manufacturing happen in China and not the US? Why do coding jobs get outsourced to India and smaller countries, where people are willing to work for a fraction of the price that they do here? What is the United States producing and exporting in amounts comparable to its imports? Why is China starting to pay for oil imports in Yuan rather than dollars?
Source: US Census Bureau
Who Cares?
You should. It is not possible that the United States is able to maintain all its social programs, safety nets, military spending, and easy money while its debt grows and productivity shrinks. Eventually, easy money printed by the fed runs out of accepted value. That will be very good for the countries that produce US goods, but our way of life in the US will drastically change. Many businesses will fail, people will become unemployed, and the price of goods will skyrocket. Although I love blockchain, cryptocurrencies are not safe and they are not a store of value. No one is safe, no one is secure, we ought to be uneasy, and we ought to pay attention to the signs.
Notice, we have hardly recovered from 2008 even with QE 2 and QE 3:
What to do about it?
It is one thing to make claims or say "yeah, the US economy is screwed," but it is another to put your money where your mouth is. Anyone that truly trusts that the US is heading towards financial crisis, ought to be getting his/her assets out of the dollar. That means, staying away from US stocks, US bonds, and the US dollar. Buy precious metals, foreign stocks (Chinese stocks have awesome dividends), or if you really want to gamble, buy cryptos.
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