Tuesday, December 13, 2011
Investigator Wymoo® International Sees Risk in U.S. Debt and Dollar
JACKSONVILLE, FLORIDA (December 12, 2011) – Wymoo International, a U.S.-based professional background check and international investigation firm, revealed today the risk it sees in its own business expansion as well as for the U.S. economy if the U.S. debt and deficit is not brought under control. Management says the fall of the dollar has resulted from the Federal Reserve’s monetary policy to print dollars as a means to meet debt obligations, digging the hole ever deeper.
Wymoo is in a unique position to sense the impact from the decline of American power. The investigation company operates in over 100 countries, and the declining purchasing power of the U.S. greenback means higher costs to pay overseas investigators who are hired and trained by the firm. As the dollar’s slide continues, American citizens lose their relative wealth in the world, and inflation is hard to miss. Management says the irresponsible policies of the Obama Administration and Federal Reserve Chairman, Ben Bernanke, are increasing the cost and economic opportunity for everyone in the U.S. To hedge the risk, Wymoo is expanding operations outside the United States.
Big government and excessive spending by Barack Obama, as well as the blatant failure of Congress to address the issue has led to unprecedented and unsustainable debt levels. As of the time of this article, the outstanding public debit is $15 trillion USD or $48,307 per tax payer. To pay the interest on this vast debt, the Federal Reserve has implemented a series of ‘Quantitative Easing’, which is a fancy term for printing money and debasing the United States currency. The strength of a country is usually reflected in the strength of its currency. With government spending out of control and a complete lack of prudent leadership from Washington, the dollar’s slide comes as no surprise.
Standard & Poor's downgrade of the United States was the first time in history, from top AAA rating to AA-plus. Moody’s issued a warning for a future downgrade. This is the wake up call.
The uncertainty and worsening economic conditions in the U.S. has resulted in fewer new hires at home. Wymoo International and many other U.S. companies continue to look for opportunities abroad. Fortunately, the increase in international business deals has fueled demand for the firm’s due diligence and international verifications. There is now more outsourcing and foreign hires, which by nature is more risk prone. International business deals, internet fraud and foreign investment scams are up worldwide. Industry observers say Wymoo’s diversified services and global client base has been instrumental in the company’s growth record and ability to weather the storm.
Management hopes the November election can change the course and policies in the United States. David Wilkerson, Vice President and COO, said the company is on track to report its 5th consecutive year of double digit growth. Achieving this success in the future may depend on the recovery on the U.S. economy. “We are optimistic that the country can turn things around if we see real leadership from the White House after the election,” said Wilkerson. “We’re patriots, so when we see the costs rise for American business because of the destruction of our currency, it’s a major concern.” Most business leaders agree.
Despite the problems in the U.S., Wymoo International will report growth for 2011 and is forecasting moderate growth for 2012. The company’s success has been impressive, and its growth in market share noted by competitors. Future success of many American companies who operate internationally may depend, in part, on the strength of the U.S. dollar. Time is running out!
© 2011 S. Birch