With the fiscal cliff averted, is the U.S. economy really back on track? Sadly, my answer is a resounding “no.” On the contrary, the U.S. economy is on a path of destruction, consisting of anemic economic growth, and dismal future expectations.
During an interview with CNBC, Congressman Ron Paul explained the situation of U.S. economy perfectly. He said, “I think we have passed the point of no return, where we can get our house in order.” (Source: CNBC, “Rep. Ron Paul on ‘Fiscal Cliff’: Too Much Bipartisanship on Spending, December 28, 2012.)
What’s ahead for the U.S. economy? You can expect more national debt, the demise of the greenback, and more scrutiny on the buying power of Americans.
Currently, the U.S. national debt stands at $16.4 trillion. (Source: www.investmentcontrarians.com). Looking at our national debt as a percentage of gross domestic product (GDP), in th...
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