Will the U.S Economy Crash on March 4, 2014?

ORIGINAL POST DATE WAS ON OCT 25, 2012 – Those wild and crazy Mayans put down their marker that the end of the world would occur on Dec. 21, 2012 — about two months from now. There is, of course, some small chance that they might be right. On the other hand, there is a very large probability that the real end of the world will occur around March 4, 2014. The doomsday clock will ring then because the U.S. economy may fully crash around that date, which will, in turn, bring down all world economies and all hope of any recovery for the foreseeable future — certainly over the course of most of our lifetimes. Interest rates will skyrocket, businesses will fail, unemployment will go to record levels, material and food shortages will be rampant, and there could be major social unrest. Any wishful thinking that America is in a “recovery” and that “things are getting better” is an illusion. The problem is not Medicare, which won’t quit on us for another six or seven years. Nor is it Social Security, which will not be fully bankrupt for another 15 years or so. The crisis is much more immediate and much more serious. The central problem is that America is the bank of the world. What this means, simply, is that the dollar is the world’s currency (often termed the “reserve currency”). Throughout the world, nearly all traded goods, oil, major commodities, real estate, etc., are denominated in dollars. The world needs dollars, and the U.S. provides them and provides confidence that the dollar is the “safest” currency in the world. Countries get dollars by trading with us on attractive terms, which enables Americans to live very well. Countries support this system and cover their risk by investing in dollars through T-bill auctions and other mechanisms, which enables us to run budget deficits — up to a point. More
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3 Responses to Will the U.S Economy Crash on March 4, 2014?

  1. Big Bear says:

    No. The markets are all 1s and 0s in compooters. As long as the compooters communicate the way they are programmed…1000-year Reich!
    Now, if the compooters are hacked, or stop communicating, it’s over. The vast wealth of the Amurkin Empire vanishes. Friendships and skill-sets will determine who gets through it.

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  3. Pingback: Will the U.S Economy Crash on March 4, 2014? | Gospel World News, Inc.

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