What is the $60 Trillion Time Bomb?
The $60 Trillion Time Bomb is what Jason Hartman calls the nearly endless obligations the government has made which it simply can't pay for. With all the entitlements, and promises it's made, such as social security, medicare, medicaid, etc., etc., there's
an obligation to fulfill these promises with no realistic method to pay for them.
Currently, the government is printing escalating amounts of devalued money and throwing the country into remarkably high amounts of debt. All the debt we're currently carrying is going to shape both fiscal and monetary policy. Lives and lifestyle's of people around the country are going to be affected. This is the time bomb Jason Hartman refers to, and it's getting higher.
What History has Shown Us
In 1989, the national debt clock was turned on. This was the moment we found out we had accrued 2.7 trillion dollars in debt since 1776. From 1776 to 1889, it took us an entire 213 years to create such a large amount of debt. Estimates now show the government has 60 trillion dollars, potentially more, in oblig
ations that have yet to be filled.
History has shown time and time again, in countries like Hungary, the Weimar Republic, and Zimbabwe, this causes massive inflation which will devalue all money in circulation and put many people in danger of paying unaffordable amounts of money. For this reason, Jason Hartman recommends getting out of
the stock market now. Americans relying on the stock market could lose unbelievable amounts of wealth in the future to come.
What it All Comes Down to
Unfortunately, all these promises the government is making come with a consequence. It's not possible to print limitless amounts of valueless money without causing problems ahead. With the way things are going now, paper wealth will be destroyed within the coming years, and many Americans will be affected by it.
The ones who will be left standing strong are those who choose reliable means of savings, and those who invest in areas which have what Jason Hartman calls universal need. What does this mean? Regardless of the future to come, people will always need to eat, sleep, and find shelter. Invest in income property to provide shelter, and you can create solid, reliable wealth in spite of the future to come.
Income property has been history's most proven asset, and with the right strategies,
you can use it to create wealth and a secure financial future. (Top Image: Flickr | Artist in Doing Nothing)
The Young Wealth Team