WHAT? No retirement?

Read the article below and this is exactly why folks are looking for better alternatives overseas in places like Panama.  Who the heck wants to work their whole life and have NO CHANCE of enjoying the fruits of their labor, give me a break!!!

By Robert Powell, MarketWatch

BOSTON (MarketWatch) -- We all think it’s a panacea. If you don’t have enough money saved for retirement, you’ve got a few ways to close the gap between what you have and what you need in your nest egg: Save more, invest more aggressively, and/or work longer.

Well, it turns out that working longer is indeed an option, according to the Employee Benefit Research Institute latest study. The only problem is that the latest research shows that you’ll have to work much longer than you anticipated. In fact, many Americans will have to keep on working well into their 70s and 80s to afford retirement, according to the study, titled “The Impact of Deferring Retirement Age on Retirement Income Adequacy."

What’s more, it’s even worse for low-income workers, according Jack VanDerhei, one of the co-authors of the study. Those who earned (on average over the course of their careers) less than $11,700 per year, the lowest income quartile, would need to defer retirement till age 84 before 90% of those households would have just a 50% chance of affording retirement.

Those who earned between $11,700 and $31,200 will need to work till age 76 to have a 50% chance of covering basic expenses in retirement. Those who earned between $31,200 and $72,500 will need to work to age 72 to have a 50% chance and those who earned more than $72,500, those in the highest income quartile, catch a break; they get stop working at age 65 to have a 50/50 chance of funding their retirement.

So what can be done to make sure you have enough income in retirement? Well, the sad truth is that not working is no longer an option and working past age 65 is fast becoming a fact of life, at least for those in the lowest three income quartiles.

One bright spot, according to John Nelson, co-author of ‘What Color is Your Parachute? For Retirement’ is that working works: “For those in the lower half of the income spectrum, delaying retirement from 65 to 69 has a profound effect,” he said. “It increases retirement income adequacy by 25% to 50%! That’s a powerful incentive.”

The new normal

Now the reality about EBRI’s findings is that many Americans — who are able to continue working and whose skills are still in demand — are already working past age 65. In 2009, 17.2% of Americans age 65 and older were in the labor force, according to recent AARP Public Policy Institute report, “Family Income Sources for Older People, 2009.”

And about 14.2 million older persons (36.7% of the older population) had family incomes from earnings in 2009. The median family income from this source was $32,330, while the mean was nearly 1.6 times as large — $50,971. Read the AARP report here.

And the new normal isn’t that people are working past age 65, rather it’s this: They are also hunting for second jobs as all, according to Art Koff, founder of RetiredBrains.com. “Even those older Americans who are still working are looking for ways to make additional monies,” he said.

And many, judging from the page views at RetiredBrains.com’s website, are often exploring ways to work from home. “Those older Americans who are looking for a job, those who have already retired and those who are working but need additional income or want to start something that they can continue into their retirement years are all reading (the work-from-home) pages,” Koff said.

Making it work

To be sure, many Americans haven’t figured out how to make working later a real option, instead of just a fantasy. And for them, Nelson has this advice: “You need to pay attention to your career and your health.”

“First, for your career, do some in-depth research and planning. Second, for your body, take a health risk assessment. You may need to keep both of them in shape longer than you thought,” he said.

Work and save

Working past age 65 is certainly one way to make sure you have enough income to fund retirement expenses. But EBRI also noted that Americans who work past age 65 who continue to save for retirement in a 401(k) or some such account earmarked for retirement increase the odds of having enough income in their golden years. “One of the factors that makes a major difference in the percentage of households satisfying the retirement income adequacy thresholds at any retirement age is whether the worker is still participating in a defined contribution plan after age 65,” the co-authors of the report. “This factor results in at least a 10 percentage point difference in the majority of the retirement age/income combinations investigated.” The EBRI report can be found at this website.

A new compact

Others, meanwhile, have a different take on EBRI’s study and findings. “This report just reinforces the need for a new social compact that provides increased financial security in return for increased contribution,” said Marc Freedman, author of “The Big Shift: Navigating the New Stage Beyond Midlife and CEO of Civic Ventures.”

“We need to enable the many people who want and need to work longer, without hurting those who are not able to,” Freedman said.

Panama's Azuero Peninsula

THE AZUERO IS ONE OF MY FAVORITE PLACES IN PANAMA and one that I list as a “must see, must do” for visitors and investors. It is accessible from Panama City by car in about four and a half hours and twice weekly plane service in about 45 minutes. It has some of the prettiest beaches and towns in Panama.

Panama lies at the crossroads of the Western Hemisphere, where North and South America meet and the Caribbean almost reaches to the Pacific Ocean, connected by the Panama Canal. In the middle of the country is a peninsula that faces south, jutting into the Pacific like a green wedge, and caressed by the Trade Winds. This is a mountainous region given over to cattle raising, with small towns dotting the coast and villages in the interior. This is Azuero.

One of the best places in this area is Pedasi. Here old times have not been spoiled by the influx of tourists as the people pretty much live the same as they have for years.  Everything noticeably slows down in Pedasi, what's the rush?  Where are you going?  Within a day or 2 you will also slow down and understand why this part of the world is unspoiled and an excellent place to unwind, invest, and have a dollar beer.

Can we get a bit political?

Hola Amigos, this is a very disturbing day, with what is going on in Greece with the protests and back in the US no more good consumer or housing news, yet the Stock Market goes crazy up.  I guess people like to bet on BAD times.  Anyways, Greece is the exact example of what will happen in any country when you rely on government for your free lunch, the Greek people are up in arms over the government making needed cuts in services and the folks are going crazy.  When the nanny state takes over people become used to it and then when nanny has to take your toys away you light shit on fire and get angry.  WELL, take a look at this America, as your government invades more of your life you TOO will get angry when they start to take it away due to over spending, it can and it will happen in the USA as it will in many other places.

Sorry I had to get into this today, as I like to keep this about Panama exclusively, but the world is crumbling, O that reminds me come to Panama and turn your frown upside down as Panama is NOT going crazy, the people are working hard and they encourage all of us to invest in the country so it can stay strong and not run into the socialist programs taking hold in the rest of the world, plus the weather is fantastic

over
Panama Man

What's new this week in Panama?

Happy Monday, as always I love to brag about Panama, its location, its people, it has adventure, or heck just relax on a beautiful beach and have a beer for a buck.  It is wet season now in Panama, which means it will rain everyday, BUT not all day, this is how the country stays so green and beautiful.  Always remember though, Panama is a great climate and easy to get to so come on down and turn your frown upside down.

Over for now

Panama Man

Cost of Living Index, Where does Panama City Panama Rank?

Panama, Panama City..

Overview

Country Full Name: Republic of Panama.

Location: Panama is in Central America, bordering both the Caribbean Sea and the North Pacific Ocean, between Colombia and Costa Rica.

Country Climate: Tropical maritime; hot, humid, cloudy; prolonged rainy season (May to January), short dry season (January to May).

Country Terrain: Interior mostly steep, rugged mountains and dissected, upland plains; coastal areas largely plains and rolling hills.

Major Languages: Spanish, English.

Major Religions: Christianity.

Country Population: 3.4 million (2008 est.) 3.5 million (2009 est.).

Country Economy: The Economy of Panama is free market economy with a history of low inflation. It is based mainly on the services industry, heavily weighted toward banking, commerce, and tourism.

Currency: Panamanian Balboa (PAB).

Country Inflation: 8.8% (2008 est.) 2.4% (2009 est.).

City: Panama City is the capital and largest city of the Republic of Panama.

City Economy: Panama City has more than 80 banks, more than 15 of them being national. The city also boasts several tourist attractions, and is a stopover for other nearby destinations in the country as well as a tourist destination in its own right.

Cost Of Living

Panama City has an overall cost of living index which equates it with low cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups. Panama City is currently ranked 223rd of the most expensive places in the world for expatriates to live, out of 300 international locations. The cost of living rank for each of the 13 Basket Groups is as follows: The higher the number the cheaper it is.

Alcohol & Tobacco costs for alcoholic beverages such as alcohol at bar, beer, locally produced spirit, whiskey, and wine as well as tobacco products such as cigarettes is relatively less expensive compared to other cities with a rank of 266 out of 300.

Clothing costs for clothing and footwear products such as business suits, casual clothing, childrens clothing and footwear, coats and hats, evening wear, shoe repairs, and underwear is relatively less expensive compared to other cities with a rank of 186 out of 300.

Communication costs for various communication costs such as home telephone rental and call charges, internet connection and service provider fees, mobile / cellular phone contract and calls is relatively less expensive compared to other cities with a rank of 279 out of 300.

Education costs such as creche / pre-school fees, high school / college fees, primary school fees, and tertiary study fees is relatively less expensive compared to other cities with a rank of 297 out of 300.

Furniture & Appliance costs for furniture, household equipment and household appliances such as dvd player, fridge freezer, iron, kettle, toaster, microwave, light bulbs, television, vacuum cleaner, and washing machine is relatively less expensive compared to other cities with a rank of 285 out of 300.

Grocery costs for food, non-alcoholic beverages and cleaning material items such as baby consumables, baked goods, baking, canned foods, cheese, cleaning products, dairy, fresh fruits, fresh vegetables, fruit juices, meat, oil & vinegars, pet food, pre-prepared meals, sauces, seafood, snacks, soft drinks, spices & herbs is relatively less expensive compared to other cities with a rank of 245 out of 300.

Healthcare costs for general healthcare, medical and medical insurance such as general practitioner consultation rates, hospital private ward daily rate, non-prescription medicine, and private medical insurance / medical aid contributions is relatively less expensive compared to other cities with a rank of 243 out of 300.

Household costs for housing, water, electricity, household gas, household fuels, local rates and residential taxes such as house / flat mortgage, house / flat rental, household electricity consumption, household gas / fuel consumption, household water consumption, and local property rates / taxes / levies is relatively more expensive compared to other cities with a rank of 88 out of 300.

Miscellaneous costs related to stationery, linen and general goods and services such as domestic help, dry cleaning, linen, office supplies, newspapers and magazines, and postage stamps is relatively less expensive compared to other cities with a rank of 272 out of 300.

Personal Care costs for personal care products and services such as cosmetics, hair care, moisturizer / sun block, nappies, pain relief tablets, toilet paper, toothpaste, and soap / shampoo / conditioner is relatively less expensive compared to other cities with a rank of 290 out of 300.

Recreation and Culture costs such as books, camera film, cinema ticket, DVD and CDs, sports goods, and theatre tickets is equally expensive on average compared to other cities with a rank of 165 out of 300.

Restaurants, Meals Out and Hotel costs such as business dinner, dinner at a restaurant (non fast food), hotel rates, take away drinks and snacks (fast food) is equally expensive on average compared to other cities with a rank of 180 out of 300.

Transport costs for public transport, vehicle costs, vehicle fuel, vehicle insurance and vehicle maintenance such as hire purchase / lease of vehicle, petrol / diesel, public transport service maintenance, tires, vehicle Insurance, and vehicle purchase is relatively less expensive compared to other cities with a rank of 204 out of 300.

New opportunities in Panama for real estate industry

Sustained growth in Panama in recent years, now projected at 7.5% for 2011, and the possible ratification of the Free Trade Agreement between Panama and the United States, like the already signed Free Trade Agreement between Panama and Peru, will increase considerable demand for various types of commercial real estate, including office and storage centers.  As more businesses around the globe move to Panama this will mean some all of these folks will need a place to live.  We believe this is why now is the time to get that real estate investment in Panama that you have been thinking about.  Panama is growing, unlike the US economy, and with growth comes plenty of opportunity to make investment gains.  Catch the real estate investment wave here in Panama and see our friends at Re/Max Beaches and City - Janet and Richard Novak for their expert advice.  Visit the website at www.beachesandcity.com

World Rankings for Life Expectancy

So, here we are on a glorious Monday morning and according to the World Health Organization Panama now ranks 4th out of ALL countries in the world for longevity of life, so now we have this going for us in Panama.

Many publications have listed Panama in the top 1 or 2 for years as a great place to retire and now the WHO places Panama 4th on their list to increase your life expectancy.  What else do we need to convince us that Panama is the place to be?  If you are an American, Panama is a short flight from family and friends yet you will be able to (as spock would say) Live Long and Prosper!!!

Come to Panama and turn your frown upside down, O YES and live a bit longer at the same time.

over
Panama Man

1 of the 7 Wonders of the World

A must see, the Panama Canal is an awesome sight to behold.  This engineering marvel transports ships from the Pacific Ocean side to the Caribbean Ocean side with ease.  The amount of time that going through the canal saves shippers is enormous and of course that means savings for all of you in America on your goods being shipped from overseas locations.  Come on down to Panama and experience this wonderful sight to see and turn your frown upside down.

Yours truly,
the Panama Man

Panama the Beautiful

Good morning all, below is a link of a video that shows exactly how beautiful Panama the country is.  Many folks are choosing Panama for 2nd homes or retirement as the place is just plain beautiful and the real estate is very affordable in comparison to other locales in the world.  Please enjoy this video http://vimeo.com/12469947 and come to Panama to turn your frown upside down.

Signed
Panama Man

Something a little different today

The below is taken from our good friend Simon Black - enjoy! 
Hang in there America, you do have options.  Consider overseas and diversify, diversify, diversify.


In the 15th century, the highest standard of living in the world belonged to China.  Places like Nanjing had reached the pinnacle of civilization with incredibly modern infrastructure, robust economies, substantial international trade, great healthcare, and a rising middle class.


Across the globe, Europeans were living out short, mud-filled, brutish lives in squalid poverty, dying off by the thousands from the bubonic plague. They were practically Neanderthals compared to the Chinese, and explorers like Marco Polo wrote fanciful tales of wealth and opulence in the east.


If you had told a Chinese merchant at the time that, over the course of the next several hundred years, global primacy would shift to Europe (and a relatively unknown American continent), you would have been laughed at. It was simply unthinkable given how advanced China was over the west.


And yet, it happened. History shows us that the great things about western civilization (Industrial Revolution, technological achievement) and the not-so-great things about western civilization (imperialism, slavery, genocide) caused the tables to turn and primacy to shift from east to west.


Ironically, the tables are turning yet again, and its driven by a number of factors.


At the tail end of World War II, a new global financial system was concocted that was heavily biased to disproportionately benefit the United States. Over the subsequent decades, foreign countries would obligingly mop up US government largess and finance out of control retail consumption.


It got to the point where people felt it was a natural right of Americans to have huge homes, cheap gas, and oodles of junk, as well as a government that could buy anything it wanted without giving a second thought to fiscal discipline. All of this was made possible at the expense of peasant workers overseas.


For years, they imported US inflation and suffered a tremendous disparity in standard of living, all because of how the global financial system was set up. This system, based on the United States as the center of the economic universe, is now completely fractured, and it's the biggest game changer in centuries.


Is it possible that such a force can be stopped or reversed? Highly unlikely.


These huge sea changes in the global order happen slowly, like titanic ships changing course in a tight canal. The initial seeds of change were planted decades ago when the US began running consistent budget deficits in the early 1960s, and even before that when the Federal Reserve Act was passed in 1913 (which forever corrupted the nation's money supply).


The negative momentum has been building for an exceptionally long time. Today's debt, inflation, and unemployment crises are merely the latest symptoms of a cancer that has been growing for decades.


In total objectivity, the patient is beyond cure at this point... and the math is quite simple.


The US debt situation is already very precarious, and even the government's own budget shows continued deficits for years and years to come. Undoubtedly, this represents some level of risk for the nation's creditors, and market participants will require a greater return on investment in order to justify the risk of loaning money to the US government.


Even assuming that all existing debt is rolled into new bonds, higher borrowing costs will absolutely cripple the Treasury. The more money they borrow, the higher their borrowing costs will become; yet, the higher their borrowing costs become, the more money they'll have to borrow to make interest payments.


Nations typically enter this vicious cycle once they start having to borrow money just to pay interest on what they already owe. The US is already way past this point.


If you study US financial conditions, you'll see that mandatory entitlement programs like Social Security and Medicare soak up over 75% of all federal tax revenue collected. That's before paying a penny in interest on the debt. The rest of the budget constitutes several trillion dollars in other expenses like genital-groping TSA agents.


As such, given the current budget just for the sacrosanct areas like defense and senior benefits, tax revenue falls over $400 billion short. America has to borrow to pay its interest expense.


Is it possible for a white knight to come riding in and slash spending by the necessary (and brutal) 50%++ just to break even? Possible, but extremely unlikely without granting him/her dictatorial powers. Getting a majority of 435 members of Congress to sign up for such painful political consequences is dubious at best.


Even still, such cuts would just be enough to break even. In order to actually make progress on paying down the debt, one would have to make even steeper cuts... and that's just at today's levels. The debt grows worse by the day, as do useless 'economic recovery' spending measures.


As such, borrowing costs are set to rise, causing the budget deficit to spiral out of control towards an eventual default.


Since so much of the global financial system is based on the US treasury market, this will set off a chain reaction of bank defaults and commercial bankruptcies, not to mention trigger a wave of credit default swap and other derivative obligations to the tune of several trillion dollars.


The other (more likely) possibility is that the Federal Reserve will continue to finance the deficit by conjuring additional money supply out of thin air, eventually leading to a loss of confidence in the dollar as a reasonable store of value.


The only reason this hasn't happened already is because there is no viable alternative yet, however there are clear signs that investors and foreign governments are scrambling for a quick solution. Smaller alternatives like the Swiss franc, Singapore dollar, and gold are all at record highs.


Barring a benevolent dictator or some kind of miracle, this situation is unstoppable and irreversible until the next cycle of the global pecking order turns the tables once again.

Panama Man MAKES you smile

Now this is good stuff cheap - take a peek

Have fun!!

Congratulations to our friend at Re/Max Beaches & City! Panama

As noted by the largest real estate company in the world, Re/Max has just announced their leaders for the Latin America/Caribbean Area.  Our friend Janet Novak of Beaches & City! Panama has been voted #19 overall in the Latin America/Caribbean Area, plus #1 overall in Panama.  Way to go Janet.  If you would like Janet to help you find your Panama Real Estate please visit her website at www.beachesandcity.com.

That's it for now - Panama Man

Azuero Peninsula Panama

The Azuero Peninsula is considered the heartland of Panama and is famous for its traditions and folklore. In its eastern tip you’ll find the beautiful town of Pedasi, a small coastal fishing village nestled on green rolling hills that resemble the Tuscan region of Italy. Tourism and real estate have begun to increase in the area since it enjoys some of the best weather in Panama, compared by many as the “Riviera of the Tropics,” offering world-class sport fishing, surfing, whale-watching, and endless adventure possibilities. 

At the bottom of the Azuero Peninsula, however, one feels almost at the end of the world. There is a timeless quality to daily life there, a blend of the ultra-modern with the centuries-old traditional ways. Impeccably paved highways slink through endless green fields and tiny clustered towns, colorful and tranquil; because they tend to hug the highway, very few towns have sprung up along the many beaches here, and the waterfront is largely deserted.  With plenty of good Real Estate options to choose from contact Richard or Janet at www.beachesandcity.com, see you there.

Hard Rock making their debut before 2012 in Panama

Megapolis gets a new Spin!!

Big news this past week that the Megapolis Hotel and Residences is now going to be the Hard Rock Megapolis Hotel, marking the brand’s first step into Latin America.  Does anyone see a trend here?  First Trump, then Wyndam, then the Starwood group jumps in, and now Hard Rock?  Just another feather in the hat in what is lining up to be a truly world class hotel offering here in Panama.


The Hard Rock Megapolis Hotel will feature a killer 62nd floor indoor/outdoor club and a fantastic location next to MultiCentro Mall.  Views from the property will no doubt be stunning as the building directly faces the Pacific ocean overlooking the bay of Panama and the city skyline.  Megapolis should be delivered before the end of this year and just in time for the busy season!

Panama – Martinelli Says Rio Hato Airport is a Done Deal

New International Airport coming to Rio Hato (Farallon)

Groups lobbying for a revision to the decision to locate Panama’s new international airport in Rio Hato (Farallon) got cold water poured on the hopes by Panama’s President Ricardo Martinelli.

Martinelli said “The dispute between various cities of the interior who are fighting for the airport is very healthy, but the project is going to stay in Rio Hato (Farallon).”
The new international airport will cost an extimated $16.3 million dollars and more than 30 companies have expressed an interest in building the airport.

OfertaSimple Couponing

Hola mi Amigos, did you know that Panama/Latin America has their very own version of Groupon?  Most people do not realize this so I am here to tell you a little about it.  Many businesses in Panama offer deals where you can save money doing everyday things like eating out, getting your pet groomed, or spending a day of beauty at a spa, it is called OfertaSimple.  This works very similar to Groupon which I am sure many of you are familiar with.  If interested check out the OfertaSimple website at www.ofertasimple.com.  Below is a tasting.

Now at OfertaSimple.com, purchase oceanfront rooms at Las Olas Resort for $43 per night, a 73% savings off the $146 regular rate. OfertaSimple.com launched in August of last year and is quickly building a dedicated following in Panama. With offers never less than 50% off and at times inching towards 90% off, OfertaSimple has attracted over 40,000 Facebook fans and tens of thousands of members as loyal users. Some of the best sellers on OfertaSimple.com have included half off at LaMar Restaurant, $13 for $50 worth of food/drink at Ego y Narciso Restaurant in Casco Viejo, 70% off at LT Burger in Hotel Manrey, 50% off a stay at Hotel Los Mandarinos in El Valle, 72% off food and drink at Habibi’s and 57% off a jump at Panama SkyDive. 

That is the news you can use for today

over
Panama Man

 

Panama Beach Vacations – Deep Discounts -NOW!

Panama Beach Vacations – Deep Discounts -NOW!

Come To Panama & Enjoy THE Beach!

RE/MAX Beaches & City! – PANAMA has some very exciting news for you -
We have negotiated deep discounts for our Clients to vacation at a terrific tropical resort located on one of Panama’s wonderful Pacific Ocean Beaches -
When you are a Client of RE/MAX Beaches & City! – PANAMA you can vacation at a five star ALL-INCLUSIVE resort for only $60.00 per person, per night – plus tax.
We can also help you arrange for round trip ground transportation between the Tocumen International Airport and this Panama Pacific Ocean Beach Resort.
Wait there is still more -
When you purchase one or more properties at this Panama Pacific Ocean Beach Resort, with the help of RE/MAX Beaches & City! – PANAMA the Resort Owners will discount the published asking price by a whopping $5,000.00 PLUS reimburse you for your total travel expenses of up to another $3,000.00.
But you have to act fast because this offer expires at the close of business on July 31, 2011.
For more info contact RE/MAX Beaches & City! – PANAMA by email at info@beachesandcity.com or call us at 1-800-492-1888 Toll Free.
Contact us right now we are available 7 days a week.

And now for something different - Majagual Panama

Majagual is a fishing town located just 20-30 minutes from Panama City. and here are a few pro's and con's for living and/or investing in Majagual.
Pros for investing in Majagual
1. The real estate in this area of Panama offers beautiful ocean views and beach frontage within a distance of the city that can be commuted daily. The drive ranges from about 20-30 minutes to downtown Panama, and only 10-15 minutes to get to Balboa, Panama which has just about everything one could need or want for everyday living including shopping malls, domestic airport, full scale grocery stores, pharmacies, video rentals, vet and medical clinics, and post offices.
2. Former US Howard Airforce Base which is located just in front of the area of Majagual, and former Rodman Naval Station recently received approved legislation to become a free trade zone for the Pacific
3. The real estate located along the West Bank of the Panama Canal, was not available for any type of development until the Panama Canal was turned over to Panama in the year 2000. Given the geography and current growth of Panama City, along with the breathtaking views of the Pacific Ocean and Panama Canal, and the proximity of the real estate along the West Bank of the Panama Canal to Panama City, it is inevitable that this area will soon prove its worth as a real estate investment.
4. The first of the developments to go up along this precious strip of real estate, is a Resort area on the road to Majagual, about 5 minutes from the actual area of Majagual. The resort is being built by InterContinental Hotels Group (IHG), the world's largest and most global hotel company, and Empresas Bern, Panama's largest hotel and tour group operator.

Cons for Investing in Majagual:
1. The road to Majagual though paved and fairly well maintained, does have the occasional pothole. Also, it is a curvy road and unlit during the night.
2. To get to Majagual you must drive through the fishing village of Veracruz. Like most fishing villages Veracruz is comprised of quaint, simple homes.

44,082,324 - What Now?

Come to Panama & Turn Your Frown Upside Down!

Here is what Bob Livinston of the Personal Liberty Digest www.personalliberty.com has to say today:
What Now?

May 16, 2011 by Bob Livingston

Over the past several months, we have seen rioting in some Arab and European countries. The riots were sparked by the high costs of food, government austerity measures and government oppression.
We have some of the same dynamic going on in the United States. But through a system of bribery, the U.S. government has succeeded, at least temporarily, in preventing Americans from rioting in the streets.
The number of Americans now on food stamps is 44,082,324 as of December 2010, up 13.1 percent from a year ago. This is more than 14 percent of the U.S. population. Unemployment is at 9 percent, and President Barack Obama and Congress have extended unemployment benefits to 99 weeks.
The Dow Jones Industrial Average stands at about 12,700. It first hit this mark in late 2007 — more than four years ago. Of course, because of the bursting of the housing bubble, the Dow could be much worse. It dropped to 7,063 in December of 2008. But the political elites threw money at the Dow in order to prop it up, to give America a sense that things were alright. After all, a rising Dow means prosperity… right?
But Americans are too busy and distracted playing with their iPad 2s and gossiping on Twitter about Charlie Sheen’s rants to have any time to protest in Washington, D.C.
As a result of QE2, the Federal Reserve is now “buying” 70 percent of U.S. Treasuries. You can believe it or not as you wish, but the U.S. government is in a state of collapse.
Precious few are prepared. You are warned: We have alerted you for many months. Now this is a flashing red alert.
Please remember that in the coming inflation, food stamps and all U.S. entitlement programs will come to a complete halt.
For those millions on Social Security and/or other entitlements, I do not believe that these will be stopped or cut per se. But the same effect would come about through inflation of the currency. My friends, you will get your money, but it will be so worthless that it won’t buy anything.
So what’s new? We have experienced this for years.
We have warned for years to buy silver and gold and store food and water. Ha, doesn’t sound so way out now, does it?
Please keep your gold and silver and food in your personal possession. It amazes me how quickly people will trust someone else with their gold and silver. Don’t do it!
Is it too late to buy gold and silver? The answer is “No, no and no!” As the Fed destroys the U.S. dollar, you will look back at how cheap gold and silver are now.
Stocks? Yes, gold and silver stocks and energy stocks — concentrate mostly on oil stocks.
Buying gold and silver and oil stocks and storing food and water are the only ways Americans can survive the chaos we are now in.
You ain’t seen nothing yet. Be alert!!
Should you sell your gold and silver as it corrects down? Never! If you do, you will be painfully sorry. Do you think you are smart enough to sell and buy back in at a lower price?
You aren’t; you will lose your shirt. Stay with the trend. This guarantees your bull-market position all the way to the top.
What will happen at the top? Stay with us, as we stay in tune with the markets.
Be reminded that gold and silver and food will outrun the collapse of the dollar. If the U.S. dollar goes, as it surely will, you can begin bartering with your most valuable assets.
Some suggest that a new dollar will appear, backed by silver or gold. I don’t know, but I expect that or some quasi-gold monetary system. (Steve Forbes predicted last week that the U.S. would return to the gold standard within five years.)
Are the U.S. government and Federal Reserve system collapsing? I can easily answer that with this question: Is the U.S. dollar collapsing? A currency that is being depreciated or inflated is, by all definitions, collapsing. This fact has nothing to do with whether we believe it.
Can it be stopped short of collapse? If stopped now, it would cause a collapse even sooner. What do we mean? We mean we have passed the point of no return. Too much fraud and too much debt exist in the U.S. They must be washed away.
What currencies will be left standing? We believe the Swiss franc and the Canadian dollar, but these will have to return to gold backing finally.
Keep in mind that most of the American people are totally oblivious to what you read here at Personal Liberty Digest™. Life in the near future will be very, very hard for them.
How long do we have? It appears to me that we are very close to economic and social collapse. But times can yet wobble along for months or even a few years. It is certain things will get visibly worse in many ways, especially now that the endgame is here.
One of the prominent events of the endgame is more war. The U.S. has wars going on in Afghanistan, Iraq and Libya, the later begun under the pretext of humanitarianism and to end the oppression of the Libyan people. Another war, this time with Pakistan, is brewing following America’s incursion into that country to execute Osama bin Laden. We are firing missiles at suspected terrorists in Yemen.
It is all a pretext to hide the collapse of the American empire, along with a desperation to control the world’s oil. It proves the foxes are still in charge of the henhouse, and the henhouse is on fire!
So please do - Come to Panama & Turn Your Frown Upside Down!