I’ve been reading a lot about the state of the world economy. Despite what some people might have you believe I think things are going to get pretty nasty before they get any better. In fact, I think the economy, as we know it, is going to change forever and the sooner people start acknowledging this, the better.
It is a well known fact that the economic policies adopted by the US Government affects everyone on this planet, in one way or another. They bail out the very banks that have caused all the mess while American citizens are burdened by rising unemployment, debt and taxes. It’s blatantly obvious that the Federal Reserve is intent on printing its way out of all the crap that it’s in right now. They print dollars, it floods the market and the currency (along with many other currencies) becomes worthless. This is what is called hyperinflation – think Zimbabwe!!
But don’t blame everything on the Americans. Look a little closer to home. We have the biggest bloody government in 15 years! For what!? So that the Ministry charged with monitoring and evaluating ministers can take a year to figure out what they’re going to monitor? So that the Department of Education can proclaim that the matric pass rate is less than 50%? So that Julius and a zillion other “black diamonds” can steal our hard earned tax money to buy more Range Rovers and mansions in Sandton?
Too many South Africans, just like Americans expect handouts from the government. A bloated government, greedy elite with a sense of entitlement and a public that is apathetic and lazy – all this is a recipe for disaster. Unless this changes – unless South Africans start to understand the value of hard work – we are going to be in a hopeless situation.
Americans will soon wake up to the fact that the dollar is not worth the paper it’s printed on. Their economy is going into a tailspin and so will ours if we are not careful.
So what am I saying? I’m saying all of us need to wake up. All of you saving your cash, putting money into pension plans and annuities are sadly going to get left behind when hyperinflation comes knocking on our doors.
Start reading between the lines, get educated and be prepared. I would start by buying some gold.