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American Capitalism Today

 June 1, 2014 | by Steve McCurdy
 

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American capitalism is a magnificent engine for growth, both versatile and resilient. But it is now being severely tested. We have built this website out of a belief that the United States and the other countries known collectively as “the West” now stand at the brink of unprecedented financial disaster. U.S. outstanding debt has increased by more than $5 trillion in just five years, to near $17.6 trillion, and total debt now tops total gross domestic product. Annual government expenditures have exceeded revenues by more than $1 trillion per annum in four of the past six years, and the Federal Reserve continues to monetize the growing debt simply by printing new money. Austerity, the only real solution to the problem, has been soundly rejected in Italy, France and Greece, and our own political leaders have shown no resolve to reduce spending. Central Banks have postponed disaster thus far through massive bond purchases, manipulations of interest rates and financial markets, and a steady stream of “feel good” propaganda. We believe that time is running out.


Greek riots over austerity measures

Signs of unrest are everywhere. Rising unemployment levels plague the Western democracies, and daily riots have become the norm in Portugal, Spain, Romania, Slovenia, and many Eurozone countries. Greeks sleep in the streets and suicide rates are at all time highs. The Greek military refuses to fight its own people, so mercenaries are being hired to replace it. In the U.S., legislation has been passed to repeal the Posse Comitatus Act, allowing the military to take over domestic policing activities, and the Department of Homeland Security has announced plans to buy millions of rounds of ammunition. Governments are obviously preparing for the worst, and so must we.

We believe that the course upon which we are embarked is now irreversible and that one of only two outcomes is possible: a hyperinflationary depression, or outright collapse of the financial system. We are living in dangerous times, and the purpose of this site is to help our readers not only survive what lies ahead, but to thrive and prosper by making smart, well-informed decisions. This web site will regularly bring you fresh ideas and recommendations from a cadre of the world’s best thinkers and economists, including …

Doug Casey, Dr. Stephen Leeb, James Rickards, Thomas Woods, Jim Sinclair, Jeff Clark, Rick Rule, Ben Davies, Thomas Sowell, James Grant, Jim Rogers, Andrew Maguire, Marc Faber, James Turk, Bill Fleckenstein, Egon von Greyerz, Felix Zulauf, John Hathaway, Eric Sprott, Gerald Celente, Mark Steyn, Robert Fitzwilson, Art Cashin, Porter Stansberry, John Doody, Nigel Farage, …

 Perhaps the biggest unknown about the coming crisis is just how bad it will be. Will we have a hard landing or a soft one? Will it be blood in the streets or just an orderly transition to a new monetary system? Anarchy and chaos, or calm and reason? No one can know, because frankly the world has never been here before.

We here at surviveandprosper.com hold firmly to the old maxim “Prepare for the worst and you will never be disappointed," and we will do our utmost to help you stay informed and prepared, so please come back often.

Check out these images to get some planning ideas.


 

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