By now you are probably used to the fact that I often advise you about things that may have a potentially negative impact on your wealth, or more often news about potential opportunities to consider.
Some of the bad news I report can be alarming, but rarely do I report “alarmist” news.
There’s a huge difference between the two.
And so, some of what I’m about to tell you this weekend may be dismissed by some folks as being alarmist.
But it’s not, and that’s what makes it even more scary.
In fact, you don’t have to take my word for it. You can check the source for yourself in the US Government Report of 2017: 2017 Financial Report of the U.S. Government
What you will find in the report is a disturbing set of figures that have no need for rhetorical enhancement.
In other words, the figures alone speak for themselves; and what they say is nothing short of terrifying. I was an accountant for many years and I’m used to looking at company accounts, so I’ll break them down for you.
In a nutshell, here’s the main gist:
For 2017, the US Government reported a NET LOSS OF -$1.2 TRILLION
Just have a wee think about this figure for a moment. How much money do you have to lose, in order to have a net loss of $1.2 Trillion in one year?
You would have to lose:
- • -$3.2 Billion per day…
- • -$136.9 Million per hour…
- • -$2.2 Million per second…
- • -$2,283 per millisecond.
Can you even imagine losing over $2,000 each “thousandths of a second”?
It’s mind-boggling. Yet such this mind-boggling feat is what the US Government has managed to accomplish.
The US Government is haemorrhaging money.
And it makes me wonder how long we can sustain this rate of loss. Many other Western countries have similar problems but on a much smaller scale.
It might help you grasp this problem if I put things into perspective:
$1.2 Trillion is almost the size of Spain’s entire economy, and larger than Australia’s and Mexico’s economies (respectively) according to the World Bank’s estimates of 2016 GDP.
Here’s another thing to consider: how many major economic disasters or events took place in 2017?
In other words, in 2017, which was a “good” year by all standards, the US government still managed to lose $1.2 Trillion.
It’s a good thing that there were no major negative events–financial disasters on a global scale, no major recessions, no large-scale military conflicts.
It makes you wonder, how much might they lose during a not-so-good year?
Now, this net loss might not be so bad if the economy was growing as compared with 2016?
To answer this question, have a look at page 55 of the report. It lays out the US government’s calculations of net assets and liabilities.
Where they add the value of every single thing they own.
Then they subtract this net asset figure from their long-term liabilities.
You’ll see in the report that the US government’s net worth is a NEGATIVE $20.4 Trillion. Compare this to the 2016 figure of NEGATIVE $19.3 Trillion.
How does it compare? The government’s net worth declined by 5.6% over the course of 2017.
The figures clearly show that the US has far more liabilities than assets.
Are you are retiree? If so, check out the section in which they calculate the long-term implications of Social Security and Medicare.
Once you get a chance to look at these figures, ask yourself this:
- are these those programs sustainable?
- is there not a strong chance they are running out of money?
Many of the more complacent citizens of the Western world feel that somehow it’s okay for governments to operate in this manner.
Yet when it comes to judging the merits of a business, or conducting one’s own financial habits, such a negative performance would not be considered acceptable.
If it was you or I, we’d be declared bankrupt.
The figures speak for themselves, they’re there for you to ruminate upon, and they are alarming.
But, in the end, what really matters most is what these figures and their long-term economic implications mean for YOU and your own wealth.
People are talking about another recession looming.
And should a negative long-term outlook appear on the horizon, perhaps it’s time to consider protecting your financial future.
There’s never been a better time to start your own ‘Plan B.’
For some it might be an online business. I certainly would if I was you.
For others, it might mean regular saving into a non-paper money safe yet accessible harbour, like ultra reliable, dependable Gold.
Thankfully, I also do this. You should too.
Food for thought this weekend…
Your Black Belt Success Coach
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