The U.S. and other modernized nations pride themselves on their prosperity – the idea that there’s more than enough wealth to go around. But for the vast majority of the citizens, prosperity feels more like a dream, or perhaps even an illusion. Is it possible that the “powers that be” are concealing a deeper and more disturbing truth from the populace?
Because he has such a successful history of explaining complex economic matters, Portfolio Wealth Global had an extremely informative interview with John Rubino, the founder of DollarCollapse.com, a website that chronicles the decline of the U.S. dollar, the ballooning debt and deficit, and other pressing economic issues.
After earning an MBA in finance from New York University, John Rubino spent the 1980s on Wall Street as a Eurodollar trader, equity analyst, and junk bond analyst. During the 1990s he was a featured columnist with TheStreet.com and a frequent contributor to Individual Investor, Online Investor, and Consumer’s Digest, among many other publications. Currently, Mr. Rubino is a featured writer for CFA Magazine.
Courtesy: John Rubino
A highly prolific and incisive writer, John Rubino is the co-author, with GoldMoney’s James Turk, of The Money Bubble and The Collapse of the Dollar and How to Profit From It, and the author of Clean Money: Picking Winners in the Green-Tech Boom, How to Profit from the Coming Real Estate Bust, and Main Street, Not Wall Street.
Mr. John Rubino revealed a wealth of insights concerning the idea of national and global prosperity during his interview with Portfolio Wealth Global. According to John Rubino, the first thing we need understand is the underlying reality that in the U.S. and globally, we’re taking on more and more debt year after year.
Therefore, the illusion of prosperity is being created in our personal lives as well as in the national and global economies, according to John Rubino. This illusion is achieved by borrowing and spending large amounts of capital, as this momentarily creates growth and jobs, and creates the impression of financial stability and progress.
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The reality, however, is that we’re taking on more and more debt, which only makes us as nations and as individuals more fragile than ever. An analogy, according to John Rubino, would be if someone were to max out his credit cards every week: his neighbors would think that he’s doing great, but under the surface, his financial life would surely be deteriorating.
That’s precisely what’s happening right now in the U.S. as well as in Europe, Japan, China, and many other places, according to John Rubino. People and nations are borrowing a great deal of capital and spending it, and the reported financial numbers don’t look bad, but the real number to look at is the total debt-to-GDP ratio, which is getting worse and worse.
Courtesy: John Rubino
The reality is that we’re heading off a cliff, according to John Rubino; we don’t know when we will come to the edge of that cliff, but that cliff it out there, and it will come in the form of a debt crisis in the not-too-distant future.
Portfolio Wealth Global’s interview with John Rubino is intense and fascinating, so don’t miss a moment of this crucial presentation. You’ll also definitely want to head over to DollarCollapse.com for more economic insights and commentary from Mr. Rubino.
We’ve made a compilation of important forecasts, ideas, and strategies that John Rubino has mentioned over his distinguished career. You can go here to download this exclusive report – no other publication has ever put this together, and it is an eye-opener to really look at the underlying problems of national and global debt and the U.S. dollar.
Research Partner, PortfolioWealthGlobal.com
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This work is based on SEC filings, current events, interviews, corporate press releases and what we’ve learned as financial journalists. It may contain errors and you shouldn’t make any investment decision based solely on what you read here. It’s your money and your responsibility. The information herein is not intended to be personal legal or investment advice and may not be appropriate or applicable for all readers. If personal advice is needed, the services of a qualified legal, investment or tax professional should be sought.