The Bankruptcy of the United States

When a family has an annual income of $100,000 per year, and debts of $6.9 million, and is still spending $100,000 per year more than they are earning, the question is not "WILL they go under." The only question is "WHEN will they go under.

Check out these stats I came across this afternoon on the Elliot Wave Analysis site. They are in the same proportion as the above example.


"Like every castle in the sand, like any house built of straw – or, in terms of Elliott wave analysis, like any third-wave advance – such a capital structure is not sustainable. "Stimulus package" or not, the U.S. cannot attract enough foreign capital to sustain a $1 trillion trade deficit, a $1 trillion current account deficit, net foreign debt of $15 trillion and unfunded federal mandates of $54 trillion.

According to the CIA's World Factbook, the U.S. right now is at the very bottom of the Current Account Balance list, below Haiti and Cuba. And it's no coincidence that the three countries at the top of the list – China, Germany and Japan – have made significant structural reforms to their economies to an export-based model."


BOTTOM LINE
When the US finally declares bankruptcy, your dollars will be worthless. THIS is the reason you should by gold!