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Economy

The elite can see what so many of the rest of us can also see. Our future looks very troubling, and it appears to be wise to get prepared for what is coming in advance.

Our day of reckoning may have been delayed, but it was not canceled.  America has a date with destiny, and it is going to be exceedingly painful.

For several years it has seemed like things have been getting “better”, but it was largely an illusion. Our ridiculously high standard of living was financed by the greatest debt binge in the history of the world, and it was inevitable that a day of reckoning would arrive.

We haven’t seen emerging market currencies crash like this in over a decade, and analysts are warning that if this continues we could witness a devastating global debt crisis.

If you take an honest look at the numbers, there is no debate that we are in far worse shape than we were just before the financial crisis of 2008. Our debt levels are much higher, stock prices are way more inflated, and financial institutions have become even more reckless.

The Buffett Indicator is very simple, but it is also very accurate.  If you want to do well in the stock market, you want to buy low and sell high, and right now we are in absurdly high territory.

Many middle class families are relying on debt to get them from month to month, and consumer debt in the United States has surged to an all-time high. But eventually a day of reckoning comes, and we all understand that.

There aren’t too many other bright spots for the U.S. economy at the moment, and so if the tech sector implodes we are going to see a lot of others go down with it.