This week I've been barraged with emails from readers and friends asking if the U.S. economy or the U.S. dollar are going to collapse. I don't know why they've suddenly become concerned (no, I didn't get them on April Fool's Day). Not one of them sent me a similar email the week of September 17, 2008 when the U.S. economy almost DID collapse.
If anything, the U.S. economy is poised to have its best year since 2007. The stock market finally set new records, housing prices are headed in the right direction, GDP will probably be in the healthy 2-3% growth zone. That sounds like a solid recovery to me. Maybe all the gloom-and-doomers who make money by selling gold (which is dropping), guns and canned food -- not to mention their own books on how to survive -- are worried because things ARE ACTUALLY GETTING BETTER.
Anyway, here's 10 reasons why the U.S. economy, and the dollar, won't collapse:
- The U.S. debt, though high, won't cause a collapse. Unlike Greece, the U.S. prints its own money.
- The U.S. could possibly run a much higher debt to GDP ratio than it does now and still not face economic collapse.
- Obama Added to the Debt to get us out of recession, not send us toward collapse.
- The U.S. won't Default on Its Debt.
- China Isn't Selling Its Dollar Holdings.
- China and Japan won't cause a Dollar Collapse.
- The Dollar Is Slowly Declining, not collapsing.
- The dollar won't be replaced as the World's Global Currency.
- The Fed's Quantitative Easing program can't cause Hyperinflation.
- There are too many failsafe measures that will prevent a U.S. Economic Collapse.
What It Means to You
You may see videos from well-known celebrities such as Robert Kiyosaki, Glenn Beck or David Stockman urging you to prepare for the impending collapse. Before you run out to buy gold or canned goods, do two things : First, read all ten of the articles above, and the links within them. Second, stop worrying. There are far more important things for you to spend your energy on than something that is highly unlikely to happen.