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Major Economic Dominos Falling: Exploding US Debt
The soaring national debt has reached a symbolic tipping point: It's now as big as the entire U.S. economy. The amount of money the federal government owes to its creditors, combined with IOUs to government retirement and other programs, now tops $15 trillion.
That's roughly equal to the value of all goods and services the U.S. economy produces in one year: $15.17 trillion as of September 2011, the latest estimate. Private projections show the economy likely grew to about $15.3 trillion by December — a level the debt is likely to surpass this month.
According to a recent CNN opinion piece entitled: America's debt woe is worse than Greece's, our US government "is utterly broke". The reason? It has spent the last six decades accumulating a huge official debt that now stands at $15.3 trillion and unfunded debt associated with Social Security, Medicare and Medicaid now tops $117 trillion.
Read more: Major Economic Dominos Falling: Exploding US Debt
Debt Limit Exposed
There is another terrific video found at:
www.Debtlimitusa.org that explains the annual US debt in household budget-like terms. If the video does not appear, click the website address below, copy and paste it into your browser or read the text summary.
Retirement Crisis
Sixteen startling facts about the coming retirement crisis and how they may dramatically affect your golden years...
#1 Beginning January 1st, 2011 every single day more than 10,000 Baby Boomers will reach the age of 65. That is going to keep happening every single day for the next 19 years.
Major Economic Dominos Falling: World Government Bankruptcies
Who cares what happens to the European economy? Actually, all Americans should as it directly impacts the US and portends our country's future. What we are witnessing right now is the toppling of economic domino #13- Government Bankruptcies Around the World; one of 23 dominos that have or will yet fall.
Read more: Major Economic Dominos Falling: World Government Bankruptcies
Real Estate or Real Opportunities
WARNING!
THIS IS A WARNING. DO NOT BUY REAL ESTATE AT THIS TIME.
THINK ABOUT WHAT HAPPENED DURING THE 1930'S. WE ARE GOING INTO AN INFLATIONARY-DEPRESSION, HIGH INFLATION & HIGH UNEMPLOYMENT (Think 1979-1983) EXCEPT MUCH, MUCH STRONGER. Can you imagine what an inflationary depression is like?
A QPRT Can Save Taxes
Planning for the disposition of your home can be a challenge. From a gift and estate tax perspective, the earlier you transfer an asset to your children or other beneficiaries, the lower the tax cost. But what if you want to continue living in your home indefinitely?
Estate Planning Pitfall: Joint Assets
There's a common misconception that owning a home or another asset jointly with your spouse or child is an effective way to transfer the asset. It's true that, when people own property as joint tenants with rights of survivorship and one owner dies, the deceased owner's interest is automatically transferred to the survivor without going through probate. But joint ownership can have significant tax disadvantages.
Pension Bankruptcy Domino Falling
Pension liability for private and public pension funds is soaring!
If you're betting on a private or public pension fund being there when you retire, you could be in for a rude awakening. There is a pension liability/bankruptcy domino that has been wobbling back and forth for several years. And it's getting worse, not better.
The Worker, Homeownership and Business Assistance Act of 2009 (WHBAA)
The Worker, Homeownership and Business Assistance Act of 2009 (WHBAA) was signed into law Nov. 6. Not only does the act extend unemployment benefits for millions of Americans, but it also extends and enhances the homebuyers credit and the five-year net operating loss (NOL) carryback election for businesses.
Read more: The Worker, Homeownership and Business Assistance Act of 2009 (WHBAA)
The Yen Warns Of The Crashing Dollar
Remember I have told you that the Japanese Yen is the ONE currency that will go inversely to the dollar? Unlike all the other currencies, there are major reasons why the Yen will see appreciation in years ahead, while ALL other currencies will fall. The dollar will fall the furthest of 1st world nations, with only the currencies of 2nd and 3rd world countries, perhaps, collapsing more.