Most Americans believe that the U.S. economy will fully recover from this recent recession and will soon become stronger than ever. But that is definitely not what is happening. The truth is that the very foundations of the U.S. economy are coming apart and we are headed for a massive amount of financial trouble as a nation. Collectively, the U.S. government, U.S. businesses and U.S. consumers have piled up the biggest mountain of debt in the history of the world. This mountain of debt has enabled us to enjoy a spectacular standard of living for the past several decades, but now the bills are coming due and nobody seems to even realize how great of a financial disaster the U.S. now finds itself in the middle of.
The following are 10 huge flashing danger signs that show just how much of a mess the U.S. economy is in….
#1) The FDIC is opening a satellite office in the Chicago area that will accommodate up to 500 temporary staffers and contractors to manage receiverships and liquidate assets from what they are expecting will be a massive wave of failed Midwest banks.
#2) The U.S. Treasury Department announced on Tuesday that foreign holdings of U.S. Treasury (Read More...)