When the Weimar Republic started printing huge quantities of money back in April 1919, did they know what would be the future of that nation? In 1919, 12 German marks were equal to one US dollar. By December 1923 it took 4 trillion German marks in exchange for one US dollar. So let me ask you, Did quantitative easing work for the Weimar Republic? It seems that the US government is in its fourth round of quantitative easing by printing money. Now it's not called printing, but digitizing, but the only difference is with the first one you print a physical piece of paper and a second one just adds zeros to someone's bank account. If the US continues down the path they are heading they will end up in a bankruptcy filing. That is of course if countries were allowed to file for bankruptcy. All they do is become further in bondage to a central bank in Europe or the US. Right now, the Fed currently owns 61% of US treasuries. This isn't very healthy to buy our own debt. If printing money was the secret to a country's success, we could continue printing until we gave every American $1 billion and make everyone rich. Doing this would destroy our currency and make it worthless. So back to the Weimar Republic question, of course it did not work as we can see from the results. Initially, everything in the Weimar Republic seemed to be working out fine with low unemployment and the economy was blazing along. All it took was a few years for the train to come off the tracks.
Washington Bankruptcy Lawyer, Cost Of Bankruptcy, Bankruptcy Lawyers In Colorado Springs,
Using the Weimar Republic to parallel the US economy, we can see inflation starting to heat up causing many Americans to file bankruptcy because they can't afford to live. To keep up, people will need to have raises from their employers and the snowball starts growing. Higher employment costs, higher commodity costs, higher overall costs to the consumer. As the dollar continues to decline further, there becomes a bigger gap for the average American to fill. The first that will go is the entertainment industry as most people won't be able to afford to go out to dinner and the movies. This will be another ding on employment as this group also begins to get laid off. Pretty soon, it's hard for people to feed themselves. As it becomes tougher and tougher to survive many more people will end up in a bankruptcy filing, which is not necessarily bad. For those that are buried in debt, filing bankruptcy might be their best and only solution to get the creditors off their backs. During these times, the offices of a bankruptcy attorney will be extremely busy. Many people will be scrambling to protect their homes from foreclosure and file bankruptcy to stop the creditors from taking all their property.
This is just a snapshot of what might happen. History has taught us many lessons and it's best that we learn from them. Thinking that we are the exception to the rule is foolish. As the past has told us, we are heading down the wrong road and need to quickly turn around before it's too late. It's time that Americans wake up and get control of their debt even if it means filing bankruptcy. Don't wait around until things start getting bad to talk to a bankruptcy attorney. Americans need to take a serious look at their current situation and be proactive. Being proactive when it comes to financial matters will save a lot of stress and pain in the long run. Besides, it's a good time to be debt free and put some cash aside. Like many rich people have said, "Cash is king in a bad economy."
Is Bankruptcy Right For You? Talk to Bankruptcy Attorneys Free and Confidential. Licensed bankruptcy attorneys are available. Attorneys will call you to discuss your case for free. Find out if bankruptcy is right for your situation.
Rating of Bankruptcy Attorney Corona
Get Online Application at online Bankruptcy Lawyer.
0 comments:
Post a Comment