Today I Learn… I make a point of learning something new everyday. This is what I learn each day

1, Aug 26, 2012

The Unsustainability of US Economy and the Need to Diversify Your Savings

Filed under: Economy,Money — admin @ 12:42 am

On 8/15/2012, I read an article — “Economist Richard Duncan: Civilization May Not Survive ‘Death Spiral'” by Terry Weiss.

The article warns of the pyramid scheme, that is very sharp downward turn of American economy. “America’s $16 trillion federal debt has escalated into a death spiral.”

American lifestyle is sustained by a huge personal and national debt and by a colossal consumption of gas, water and electricity.

Totally unsustainable is US economy, energy, ecological resources, and the whole American lifestyle.

The article conveys a strong sense of urgency. Imagine what would happen if US dollar becomes worthless! It does you no good to keep telling yourself “This is impossible.”

We individuals have to diversify our savings in case the pyramid does collapse. Don’t put all your savings in the form of US dollar. We already know that we should not put all our eggs in one basket.

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