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 If you want to know what the future of America is going to be like, just look at the city of Detroit. Once upon a time it was a symbol of everything that America was doing right, but today it has been transformed into a rotting, decaying, post-apocalyptic hellhole. Detroit was once the fourth-largest city in the United States, and in 1960 Detroit had the highest per-capita income in the entire nation. It was the greatest manufacturing city the world had ever seen, and the rest of the globe looked at Detroit with a sense of awe and wonder. But now the city of Detroit has become a bad joke to the rest of the world. Unemployment is rampant, 60 percent of the children are living in poverty and the city government is on the verge of bankruptcy. They say that Detroit is just a matter of "weeks or months" away from running out of cash, and when Detroit does declare bankruptcy it will be the largest municipal bankruptcy in the history of the United States. But don't look down on Detroit, because the truth is that Detroit is really a metaphor for what is happening to America as a whole. In the United States today, our manufacturing infrastructure has been gutted, poverty is absolutely exploding and we are rapidly approaching national bankruptcy. Detroit may have gotten there first, but the rest of the country will follow soon enough. (Read More....)
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 Last week the mainstream media hailed QE3 as the "quick fix" that the U.S. economy desperately needs, but the truth is that the policies that the Federal Reserve is pursuing are going to be absolutely devastating for our senior citizens. By keeping interest rates at exceptionally low levels, the Federal Reserve is absolutely crushing savers and is systematically destroying Social Security. Meanwhile, the inflation that QE3 will cause is going to be absolutely crippling for the millions upon millions of retired Americans that are on a fixed income. Sadly, most elderly Americans have no idea what the Federal Reserve is doing to their financial futures. Most Americans that are approaching retirement age have not adequately saved for retirement, and the Social Security system that they are depending on is going to completely and totally collapse in the coming years. Right now, approximately 56 million Americans are collecting Social Security benefits. By 2035, that number is projected to grow to a whopping 91 million. By law, the Social Security trust fund must be invested in U.S. government securities. But thanks to the low interest rate policies of the Federal Reserve, the average interest rate on those securities just keeps dropping and dropping. The trustees of the Social Security system had projected that the Social Security trust fund would be completely gone by 2033, but because of the Fed policy of keeping interest rates exceptionally low for the foreseeable future it is now being projected by some analysts that Social Security will be bankrupt by 2023. Overall, the Social Security system is facing a 134 trillion dollar shortfall over the next 75 years. Yes, you read that correctly. The collapse of Social Security is inevitable, and the foolish policies of the Federal Reserve are going to make that collapse happen much more rapidly. (Read More....)
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 Barack Obama has declared that "immigration reform is an economic imperative", and is promising to do his best to get an immigration bill pushed through Congress this year. But will "legalizing" all of the illegal immigration that has taken place over the last several decades improve the struggling U.S. economy or will it actually make our economic problems worse? One of the favorite tricks of top politicians is to promise that the economy is going to improve if we just support what it is that they are currently pushing. Hopefully the Americans people will not buy the nonsense that Obama is spewing. The truth is that Barack Obama is wrong about the economic impact of illegal immigration. Illegal immigrants don't do jobs that Americans "don't want" to do. A million Americans recently showed up to apply for a job at McDonald's. That is how desperate Americans are for work these days. Please don't try to tell me that there aren't millions of Americans out there that would not pick fruit for minimum wage. The millions upon millions of illegal immigrants in this country are stealing jobs, they are depressing wages in a whole host of industries and they are a huge factor in the erosion of the middle class. Millions of middle class American families can't afford to provide for their families anymore and are losing their homes, drowning in debt or going bankrupt. Rather than what Barack Obama is proposing (which is to essentially "legalize" illegal immigration), we need an immigration policy that makes sense and that protects American jobs. (Read More....)
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 Is the Greek debt crisis about to explode out of control? According to Der Spiegel, the government of Greece is considering leaving the Euro and reestablishing its own currency. If that happened, it would throw global financial markets into chaos and it might mean the end of the euro as a pan-European currency. But the Greek government has to do something about all of these debts. At this point Greece is literally drowning in debt. The yield on 10-year Greek bonds has now reached an astounding 15.51%. There is no way that is sustainable even for the short-term. Greece is rapidly going bankrupt. Even with absolutely brutal austerity measures in place, the debt just continues to explode. There are protests against the government almost daily and Greece is in a state of chaos. Unfortunately, because Greece is part of the euro they can't just start printing lots of money as a way to get out of this crisis. Now there are persistent rumors that Greece really is thinking about leaving the euro, and that could potentially mean big trouble for the world financial system. (Read More....)
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 2010 was quite a year, wasn't it? 2010 will be remembered for a lot of things, but for those living in the United States, one of the main things that last year will be remembered for is economic decline. The number of foreclosure filings set a new record, the number of home repossessions set a new record, the number of bankruptcies went up again, the number of Americans that became so discouraged that they simply quit looking for work reached a new all-time high and the number of Americans on food stamps kept setting a brand new record every single month. Meanwhile, U.S. government debt reached record highs, state government debt reached record highs and local government debt reached record highs. What a mess! In fact, even many of the "good" economic records that were set during 2010 were indications of underlying economic weakness. For example, the price of gold set an all-time record during 2010, but one of the primary reasons for the increase in the price of gold was that the U.S. dollar was rapidly losing value. Most Americans had been hoping that 2010 would be the beginning of better times, but unfortunately economic conditions just kept getting worse. (Read More....)
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Barack Obama Is Wrong: 18 Facts Which Prove That Illegal Immigration Is An Absolute Nightmare For The U.S. Economy
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