March 2019 – Q: Is there a coming collapse in America’s economy?
A: If you ask the “fear mongers,” they will say yes, as if it is only a matter of days – as they have been saying for 20 years. Some day we may well see a collapse of sorts. Am I worried about China, trade, global growth? Yes, for the short term.
But my biggest concern is our national debt, which continues to grow out of control. However, it would have to double or more to cause a collapse. If you are concerned about your personal portfolio in such an event, the answer is that you can fill your house with groceries and gold, but there is little you can do to protect against a global collapse.
Just honor God with the money He has given you, invest wisely, and stick to your strategy. Do not allow fear to determine your decisions. Plan your finances as you live – live as if He will return today, and plan as if it will be 100 years from now.
Dan Celia has been in financial management for more than 30 years. He works closely with AFA Foundation and can be heard six days a week on AFR Talk (afr.net).
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