Podcast: Play in new window | Download

Subscribe: RSS

IN CASE YOU DON’T READ INTERNATIONAL MONEY NEWS, GREECE IS BROKE!

IT MIGHT SEEM LIKE THE U.S. DEBT ISN’T ANYWHERE NEAR THAT OF GREECE.  THEIRS IS ALMOST 175% OF ITS GROSS DOMESTIC PRODUCT.  THAT’S THE TOTAL VALUE OF GOODS PRODUCED AND SERVICES PROVIDED IN A YEAR. U.S. DEBT IS 70% OF OUR GDP.  THAT’S WHAT WE’RE TOLD.

HERE’S SOMETHING YOU DIDN’T KNOW.  IF YOU ADD UP WHAT THE U.S. OWES FOR PROGRAMS LIKE MEDICARE, FEDERAL PENSIONS AND SOCIAL SECURITY, OUR DEBT IS ACTUALLY HIGHER THAN GREECE’S.

THE GREEK’S CURRENCY IS THE EURO AND THEY CAN’T PRINT MONEY TO PAY THEIR BILLS.  BUT WHEN U.S. DEBT GETS OUT OF CONTROL, OUR FEDERAL RESERVE BANK JUST PRINTS THE MONEY IT NEEDS. THAT WILL EVENTUALLY CAUSE MASSIVE INFLATION, WHICH WILL WIPE OUT SAVINGS, LIKE IN YOUR 401K.  SOONER OR LATER YOU’RE GOING TO PAY FOR THE IRRESPONSIBLE BEHAVIOR OF OUR GOVERNMENT.