19 Reasons Why The Federal Reserve Is At The Heart Of Our Economic Problems

Most Americans do not understand what the Federal Reserve is or why it is at the heart of our economic problems.  When Americans get into discussions about the economy, most of them still blame either the Democrats or the Republicans for inflation, for the housing crash, for our rampant unemployment and for the national debt.  But the truth is that the institution with the most power over our economic system is the Federal Reserve.  So exactly what is the Federal Reserve?  Most people would say that it is an agency of the federal government.  But that is absolutely not true.  In fact, the Federal Reserve itself has argued in court that it is not an agency of the federal government.  Rather, the Federal Reserve is a privately-owned banking cartel that has been given a perpetual monopoly over our monetary system by the U.S. Congress.  This privately-owned central bank has been destroying the value of the U.S. dollar for decades, it has run our economy into the ground and it has driven the U.S. government to the brink of bankruptcy.  The Federal Reserve operates in great secrecy, it has never been subjected to a comprehensive audit and it is not accountable to the American people.  Yet the decisions that the Federal Reserve makes have a dramatic impact on the lives of every single American citizen.

If you really want to understand what is causing our economic problems, it is absolutely crucial that you understand exactly what the Federal Reserve system is and how it is systematically destroying our economy.  Once you understand the truth about the Federal Reserve, you will view economic issues a whole lot differently.

The following are 19 reasons why the Federal Reserve is at the very heart of our economic problems….

#1 The Federal Reserve system is a debt-based financial system.

The way our system is designed, normally no money comes into existence without more debt being created.

But this creates a huge problem, because when a new dollar is created, the interest owed to the banking system on that dollar is not also created at the same time.

Therefore, the amount money that is created is not equal to the larger amount of debt that is also created.

This is a Ponzi scheme that is designed to drain wealth from the American people and transfer it to the banking system.

Today, the amount of debt in our economic system is far, far, far greater than the total amount of money.

The only way to keep the game going is to create even more money which creates even more debt.

#2 The Federal Reserve and the bankers have a monopoly on the creation of this debt-based money.

In the United States today, the only people that can create money are the bankers.

You cannot create money.

You would go to jail if you tried.

Even the U.S. government cannot create money.

Although the U.S. Constitution specifically gives Congress the power to create money, the U.S. Congress has given that power to the Federal Reserve and to the banking system.

This gives them an enormous amount of power.

So how does money creation actually work?

Most Americans don’t understand this.

As I have written about previously, the way our system is designed is that all money is supposed to originally come into existence as government debt….

When the government wants more money, the U.S. government swaps U.S. Treasury bonds for “Federal Reserve notes”, thus creating more government debt.  Usually the money isn’t even printed up – most of the time it is just electronically credited to the government.  The Federal Reserve creates these “Federal Reserve notes” out of thin air.  These Federal Reserve notes are backed by nothing and have no intrinsic value of their own.

The Federal Reserve then sells these U.S. Treasury bonds to investors, other nations (such as China) or sometimes they “sell” them back to themselves.  In fact, the Federal Reserve has been gobbling up a whole lot of U.S. Treasuries lately.  Some refer to this as “monetizing the debt”, but that is not quite an accurate statement.

When the Federal Reserve creates money this way, it does not also create the money to pay the interest on the debt that has been created.  Eventually this puts pressure on the U.S. government to borrow even more money to keep the game going.  So what this creates is a spiral where the U.S. government must keep borrowing increasingly larger amounts of money, where the money supply is endlessly expanding and where the value of the U.S. dollar is destined to continue going down forever.

Once “Federal Reserve Notes” are in circulation, there is another way that money is created.

It is called “fractional reserve lending”.

Once you or I deposit money into a bank, the bank is only required to keep a very small amount of it actually in the bank.  The rest of it the bank can loan out to others (at interest of course).  This process can be repeated over and over and over, creating more money and an even larger amount of debt.

But the important part to take away from all this is that normally money is only created when debt is created, and the amount of debt to be paid back is always larger than the amount of money created.

This entire system is designed to drain our wealth and to put it into the hands of the bankers.

#3 The power of money creation and debt creation is in the hands of private individuals – not the government.

The Federal Reserve claims that it is an “entity within the government, having both public purposes and private aspects.”

That sounds so reasonable, but the truth is that the Federal Reserve is a legalized banking cartel that is privately-owned.

In fact, the Federal Reserve is about as “federal” as Federal Express is.

In defending itself against a Bloomberg request for information under the Freedom of Information Act, the Federal Reserve objected by declaring that it was “not an agency” of the U.S. government and therefore it was not subject to the Freedom of Information Act.  It is kind of funny how Fed officials are always talking about how important their “independence” is, but whenever anyone starts criticizing them for being private they start stressing their ties with the government.

So who owns the Federal Reserve?

As the Federal Reserve’s own website describes, it is the member banks that own it….

The twelve regional Federal Reserve Banks, which were established by Congress as the operating arms of the nation’s central banking system, are organized much like private corporations–possibly leading to some confusion about “ownership.” For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.

In particular, as we will see below, the banks of the New York Federal Reserve have the most influence over the system.

So who owns the member banks?

Well, when you trace the ownership of the member banks to the very top you find that the international banking elite are very strongly represented.

#4 The Federal Reserve itself is not much of a profit-making institution.  Rather, it is a tool that enables others to make obscene amounts of money.

There are many that think of the Federal Reserve as an evil profit-making machine.  But the truth is that the Fed doesn’t make that much money.  Rather, the system was set up so that others could make an obscene amount of money from U.S. government debt.

Many of those opposed to the Federal Reserve point to the record $80.9 billion in profits that the Federal Reserve made last year as evidence that they are robbing the American people blind.  But then those defending the Federal Reserve will point out that the Fed returned $78.4 billion to the U.S. Treasury.

In the end, those numbers are not nearly as important as the hundreds of billions of dollars in interest that are made off of U.S. government debt each year.

If the U.S. government had been issuing debt-free money all this time, the U.S. government would likely not be spending one penny on interest payments.  Instead, the U.S. government spent over 413 billion dollars on interest on the national debt during fiscal 2010.  This is money that belonged to U.S. taxpayers that was transferred to the U.S. government which in turn was transferred to wealthy international bankers and other foreign governments.

This is where the magic of the Federal Reserve system is.  It is in getting the U.S. government enslaved to debt and using that debt to transfer hundreds of billions of dollars of our wealth into the hands of others.

As interest rates go up, this phenomenon is going to become even more brutal.  Right now it is being projected that the U.S. government will be paying 900 billion dollars just in interest on the national debt by the year 2019.

As you fill out your tax return this year, just keep in mind that vast quantities of our money is going to pay interest on debt that the U.S. government never needed to become enslaved to.

There are some very happy people out there that are becoming fabulously wealthy at our expense.

What a system, eh?

#5 The Federal Reserve is a perpetual debt machine.

As mentioned above, the U.S. government is enslaved to debt.

So how did it get enslaved?

Well, instead of printing up and spending the money that it needs, the U.S. government borrows it through the Federal Reserve system at interest.

In fact, as noted above, the U.S. government cannot create a single new dollar without borrowing it.

But each new dollar that the U.S. government borrows creates more than a dollar of new debt.

As a result, the government eventually has to collect more in taxes than what it has borrowed.

This phenomenon creates an endless debt spiral.

And is that not what we have in the United States today?  In fact, you see this in almost every nation on earth where a similar central banking system has been established.

Did you know that the U.S. national debt is more than 5,000 times larger than it was 100 years ago?

That’s right – back in 1910, prior to the passage of the Federal Reserve Act, the national debt was only about $2.6 billion.

The only way that the U.S. government can inject more money into the economy is by going into more debt.  But when new government debt is created, the amount of money to pay the interest on that debt is not also created.  In this way, it was intended by the international bankers that U.S. government debt would expand indefinitely and the U.S. money supply would also expand indefinitely.  In the process, the international bankers would become insanely wealthy by lending money to the U.S. government.

However, things did not have to turn out this way.

If the Federal Reserve had never been created, and the U.S. government had been issuing debt-free currency all this time, it is entirely conceivable that we would have absolutely no federal government debt at this point.

Unfortunately, we are now trapped in a debt-based system.

The U.S. national debt simply cannot ever be paid off.  U.S. government debt has been mathematically designed to expand forever.  It is a trap from which there is no escape.

Sadly, we have now gotten to a terminal phase of the debt spiral.  The Congressional Budget Office is projecting that U.S. government debt held by the public will reach a staggering 716 percent of GDP by the year 2080.  Remember when I used the term “debt spiral” earlier?  This is what a debt spiral looks like….

#6 The Federal Reserve system is designed to cause inflation.

As U.S. government debt expands at an exponential pace, it inevitably causes inflation.

Most Americans believe that inflation is a fact of life, but the truth is that the United States has only had a major, ongoing problem with inflation since the Federal Reserve was created back in 1913.

Sadly, the U.S. dollar has lost well over 95 percent of its value since the Federal Reserve was created.

If the Federal Reserve did not exist, it is theoretically conceivable that we could have an economy with little to no inflation.  Of course that would greatly depend on the discipline of our government officials (which is not very great at this point), but the sad truth is that our current system is always going to produce inflation.  In fact, the Federal Reserve system was originally designed to be inflationary.  Just check out the inflation chart posted below.  The U.S. never had massive problems with inflation before the Fed was created, but now it is just wildly out of control….

#7 The Federal Reserve has decided to play bizarre games with our money supply.

In a desperate attempt to revive the dying U.S. economy, the Federal Reserve has resorted to chucking gigantic quantities of cash into the financial system.

Remember how earlier I explained that normally whenever new money is created that more debt is created?

Well, lately the Fed has been resorting to a trick called “quantitative easing”.  What “quantitative easing” means is that the Federal Reserve zaps massive amounts of money into existence out of thin air and starts spending it on anything that it wants to buy.  Lately, this has primarily been done to buy up U.S. government debt.

But isn’t that “monetizing the debt”?

Of course it is, and it is a blatant Ponzi scheme.

However, what is even more alarming is what this is doing to our money supply.

Just look at what has happened to our monetary base since about mid-2008….

Does anyone in their right mind believe that this is not going to cause horrible inflation?

Right now most of the new cash is tied up in the financial system, but once it gets out into the regular economy watch out!

#8 The Federal Reserve is undemocratic.

In a previous article, I asked the following question:

“So what makes the central economic planning that the Federal Reserve does different from the central economic planning that communist China does?”

In both cases, a bunch of unelected elitists run the economy and make important economic decisions for the rest of us.

So what really is the difference?

#9 The Federal Reserve runs the U.S. economy.

Most Americans want to blame Obama or Bush or the U.S. Congress for the state of the economy.

But the truth is that it is the Federal Reserve that sets interest rates, it is the Federal Reserve that determines the money supply, it is the Federal Reserve that sets the “target rate” of inflation, it is the Federal Reserve that determines if unemployment is too high or too low and it is the Federal Reserve that watches over all of our banks.

Yes, Obama, Bush and the U.S. Congress all have things to answer for as well.

But none of them have the direct power over the economy that the Federal Reserve does.

#10 The Federal Reserve favors the big banks.

Not all financial institutions are treated equally by the Fed.

The truth is that the big banks (particularly those on Wall Street) are treated with great favor by the Federal Reserve.

If the Federal Reserve did not exist, the big Wall Street banks would not have such an overwhelming advantage.  Most Americans simply have no idea that over the last several years the Federal Reserve has been giving gigantic piles of nearly interest-free money to the big Wall Street banks which they turned right around and started lending to the federal government at a much higher rate of return.  I don’t know about you, but if I was allowed to do that I could make a whole bunch of money very quickly.  In fact, it has come out that the Federal Reserve made over $9 trillion in overnight loans to major banks, large financial institutions and other “friends” during the financial crisis of 2008 and 2009.

Wouldn’t you like to be able to zap trillions of dollars into existence and loan it out to your friends at very favorable terms?

Sadly, most of the “help” from the Federal Reserve always seems to go to the big boys.

When “small enough to fail” banks need assistance, they are usually told to go sell themselves to one of the big banks.

#11 The worse the debt problems caused by the Federal Reserve become, the more money the IRS needs to collect from the rest of us.

If the U.S. government could issue debt-free money, it is conceivable that we would not even need the IRS.  You doubt this?  Well, the truth is that the United States did just fine for well over a hundred years without a national income tax.  But about the same time the Federal Reserve was created a national income tax was instituted as well.  The whole idea was that the wealth of the American people would be transferred to the U.S. government by force and then transferred into the hands of the ultra-wealthy in the form of interest payments.

If the Federal Reserve was shut down, it is entirely possible that we would be able to shut down the IRS as well.

But the only way that the current system works is if massive amounts of wealth continue to be drained from the American people.

#12 The Federal Reserve creates artificial financial bubbles.

When you look back over the last several decades, you will find financial bubble after financial bubble.

So who created all of those bubbles?

It was the Federal Reserve.

The ridiculous policies of Greenspan and Bernanke have wrought disaster after disaster and yet most of our politicians still will not even consider major changes to the Federal Reserve.

#13 The Federal Reserve is anti-free market.

In a true free market system, the marketplace would determine what interest rates are.

In a true free market system, the marketplace would determine which financial institutions survive.

In a true free market system, artificial financial bubbles would be far less likely.

But we don’t have a true free market system.

#14 The Federal Reserve tells the rest of the our banks what to do.

Most Americans don’t understand just how much power the Federal Reserve actually has over our local banks.

For example, just last year Federal Reserve officials walked into one bank in Oklahoma and demanded that they take down all the Bible verses and all the Christmas buttons that the bank had been displaying.

#15 The people currently running the Federal Reserve pretty much have no idea what they are doing.

In case anyone has not noticed, Federal Reserve Chairman Ben Bernanke has a very long track record of incompetence.  Nearly every major judgment that he has made since taking over that position has been dead wrong.

If one of us could go down the street and appoint the manager of the local Dairy Queen as the Chairman of the Federal Reserve, it is very doubtful that person would do a worse job than Bernanke has done.

#16 Even though the Federal Reserve has such extraordinary power over the financial system, the American people are not permitted to examine their books.

The Federal Reserve claims that they are regularly audited, but when some members of Congress attempted to push through a true comprehensive audit of the Fed last year Federal Reserve officials threw a hissy fit.

The truth is that the Federal Reserve has never undergone a true comprehensive audit since it was created back in 1913.

Whenever the subject of an audit comes up, Bernanke and others at the Fed keep repeating the mantra of how important “the independence of the Federal Reserve” is.

Sadly, Ron Paul’s proposal to audit the Federal Reserve last year, which had previously been co-sponsored by 320 members of the U.S. House of Representatives, ultimately failed by a vote of 229-198.

Instead, a very, very limited examination of Fed transactions that occurred during the recent financial crisis was approved.

So what did that limited examination reveal?

Well, the Federal Reserve was forced to reveal the details of 21,000 transactions stretching from December 2007 to July 2010 that combined were worth trillions of dollars.  It turns out that the Federal Reserve was just handing out gigantic piles of nearly interest-free cash to their friends at the largest banks, financial institutions and corporations all over the globe.

Many members of Congress were absolutely stunned by these revelations.

So what would a more comprehensive audit reveal?

#17 The Federal Reserve has way too much power.

If the Federal Reserve did not exist, we would not have an unelected, unaccountable “fourth branch of government” running around that has gotten completely and totally out of control.  Even some members of Congress are now openly complaining about how much power the Fed has.  For example, Ron Paul told MSNBC last year that he believes that the Federal Reserve is now more powerful than Congress…..

“The regulations should be on the Federal Reserve. We should have transparency of the Federal Reserve. They can create trillions of dollars to bail out their friends, and we don’t even have any transparency of this. They’re more powerful than the Congress.”

#18 The Federal Reserve is dominated by Wall Street and the New York banks.

The New York representative is the only permanent member of the Federal Open Market Committee, while other regional banks rotate in 2 and 3 year intervals.  The former head of the New York Fed, Timothy Geithner, is now U.S. Treasury Secretary.  The truth is that the Federal Reserve Bank of New York has always been the most important of the regional Fed banks by far, and in turn the Federal Reserve Bank of New York has always been dominated by Wall Street and the major New York banks.

The cold, hard reality of the matter is that the Federal Reserve is just another one of the tools that the Wall Street banking elite use to dominate all the rest of us.

#19 The Federal Reserve has brought us to the brink of economic collapse.

If the Federal Reserve had never been created, the American people would not be so enslaved to debt.  At the very core of our economic problems is debt.  American consumers are swamped with debt, state and local governments are facing horrific debt problems from coast to coast and the federal government has piled up the biggest mountain of debt in the history of the world.

We are living in an absolutely massive debt bubble, and when it bursts the world is going to experience financial chaos like it has never seen before.

Things did not have to turn out this way.  We did not have to adopt a debt-based financial system.  We did not have to allow the bankers to enslave us with debt.

But that is what happened.

Sadly, most Americans and the vast majority of our politicians are still clueless about these issues.

In 1922, Henry Ford wrote the following….

“The people must be helped to think naturally about money. They must be told what it is, and what makes it money, and what are the possible tricks of the present system which put nations and peoples under control of the few.”

Hopefully this article will help people understand our debt-based financial system a little bit better.

Until we fundamentally change our system, many of the economic and financial problems we are currently experiencing will never go away.

Thankfully, it does appear that some Americans are waking up.

According to a recent Bloomberg National Poll, the number of Americans that would like to see the Federal Reserve held more accountable or even completely abolished is increasing….

Asked if the central bank should be more accountable to Congress, left independent or abolished entirely, 39 percent said it should be held more accountable and 16 percent that it should be abolished. Only 37 percent favor the status quo.

Those are very exciting numbers.

Hopefully we can awaken many more Americans to the dangers of a debt-based economy.

In the book of Proverbs, it tells us the following….

The rich ruleth over the poor, and the borrower is servant to the lender.

Well, by allowing ourselves to become enslaved to debt, we have become the servants of the international banking system.

Not only that, we have also sold our children and our grandchildren into perpetual debt slavery.

Thomas Jefferson tried to warn us about this.

He believed that when the government borrows money in one generation which must be paid back by future generations it is equivalent to stealing….

And I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.

In fact, Thomas Jefferson said that if he could add one more amendment to the U.S. Constitution it would be a ban on all government borrowing….

I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its Constitution; I mean an additional article, taking from the federal government the power of borrowing.

Where would we be today if we had listened to Thomas Jefferson?

The amount of government debt that we have racked up is a great evil.  We have stolen the future away from our children and our grandchildren.  We have put them in a position where they will spend the rest of their lives paying off our debts to the bankers.

We owe it to future generations to fix the problems that we have created.

That is why so many of us believe that it is time for the U.S. Congress to shut down the Federal Reserve.  Our current financial system is a complete and utter failure and we need to start over.

Even Donald Trump Is Warning That An Economic Collapse Is Coming

In a shocking new interview, Donald Trump has gone farther than he ever has before in discussing a potential economic collapse in America.  Using phrases such as “you’re going to pay $25 for a loaf of bread pretty soon” and “we could end up being another Egypt”, Trump explained to Newsmax that he is incredibly concerned about the direction our economy is headed.  Whatever you may think of Donald Trump on a personal level, it is undeniable that he has been extremely successful in business.  As one of the most prominent businessmen in America, he is absolutely horrified about what is happening to this nation.  In fact, he is so disturbed about the direction that this country is heading that he is seriously considering running for president in 2012.  But whether he decides to run in 2012 or not, what Trump is now saying about the U.S. economy should be a huge wake up call for all of us.

Trump says that the U.S. government is broke, that all of our jobs are being shipped overseas, that other nations are heavily taking advantage of us and that the value of the U.S. dollar is being destroyed.  The following interview with Trump was originally posted on Newsmax and it is really worth watching….

Now, you may or may not think much of Donald Trump as a politician, but when a businessman of his caliber starts using apocalyptic language to describe where the U.S. economy is headed perhaps we should all pay attention.

The following are 12 key quotes that were pulled out of Trump’s new interview along with some facts and statistics that show that what Trump is saying is really happening.

#1 “If oil prices are allowed to inflate and keep inflating, if the dollar keeps going down in value, I think there’s a very distinct possibility that things could get worse.”

Donald Trump is exactly right – we are headed for big trouble if we continue to allow the Federal Reserve to pump hundreds of billions of new dollars into the system.  As I have written about previously, all of this new money will give us the illusion of short-term economic growth and it will pump up the stock market, but in the end all of the inflation the new money is gong to cause is going to be very painful.  Just look at how rapidly M1 has been skyrocketing over the last couple of years.  Is there any way that we are going to be able to avoid paying a very serious price for all of this reckless money printing?….

Already all of this money printing has had a very serious affect on world financial markets.  The price of agricultural commodities is skyrocketing and the price of oil has almost reached $100 a barrel once again.  The last time that the price of oil soared above $100 a barrel was in the early part of 2008, and we all remember the horrific financial collapse that followed in the fall of 2008.

#2 “….you’re going to pay $25 for a loaf of bread pretty soon. Look at what’s happening with our food prices. They’re going through the roof. We could end up being another Egypt. You could have riots in our streets also.”

The price of corn has risen 88 percent over the past year and the price of wheat has soared a whopping 114 percent over the past year.  Let’s hope that we don’t have to pay $25 for a loaf of bread in the United States any time soon, but in some areas of the world that is what it now feels like.

Approximately 3 billion people in the world today live on the equivalent of $2 a day or less, and most of that money ends up getting spent on food.  When food prices go up 10 or 20 percent in deeply impoverished areas of the globe, suddenly the lives of millions are threatened.  The riots that we have seen in Egypt, Algeria, Tunisia and other nations recently were not entirely caused by rising food prices, but they were certainly a big factor.

#3 “I think gold will go up as long as people don’t have confidence in our president and our country. And they don’t have confidence in our president.”

Investors run to gold and other precious metals when they don’t feel secure.  We saw that happen a lot in 2010.  As confidence in the paper currencies and the financial systems of the world has rapidly diminished, precious metals have become increasingly attractive.

In fact, the price of gold has doubled since the beginning of the economic downturn in 2007.  As the global financial situation continues to become more unstable, the demand for precious metals is likely only going to become more intense.

#4 “The banks have really let us down. Number one, they did some bad things and caused some bad problems. Number two, if you have something that you want to buy, like a house, they’re generally not there for you.”

Banks were given massive bailouts with the understanding that they would open up the vaults and start lending money to average Americans again.

Well, that has not happened.

In particular, it has become much, much harder to get a mortgage in the United States today.  Not that the big banks didn’t need to make changes to their lending practices, but things have gotten so tight now that it is choking the real estate market to death.

#5 “I see $3.50 for a gallon of gas for cars, and cars are lined up trying to get it and it’s $3.50. It’s a shame, a ridiculous shame.”

Our lack of a cohesive energy policy is a national disgrace.  There is no way in the world that a gallon of gas should be $3.50 a gallon.

The U.S. has massive reserves of oil and natural gas that it should be using.  In addition, the lack of progress on developing alternative energy sources in light of our sickening dependence on foreign oil is very puzzling.  We should be very far along towards solving our energy problems by this point.

Meanwhile, we keep pouring billions into the pockets of foreign oil barons every single month.  Unfortunately, Trump was exactly correct in the interview – if something is not done the price of gas is going to keep going higher.

#6 “I think the biggest threat is that our jobs are being stolen by other countries. We’re not going to have any jobs here pretty soon.”

Donal Trump is one of the few prominent leaders that is openly speaking the truth about the predatory economic practices of some of our “trading partners”.  Most of our politicians have just kept endlessly promising us that free trade is “good for us” even as tens of thousands of factories and millions upon millions of jobs have been shipped overseas.

Back in 1970, 25 percent of all jobs in the United States were manufacturing jobs. Today, only 9 percent of the jobs in the United States are manufacturing jobs.

Yes, computers and robots have replaced a lot of manual labor today, but technology does not account for most of the decline we have seen in manufacturing.

n 1959, manufacturing represented 28 percent of all U.S. economic output.  In 2008, it represented only 11.5 percent.  Meanwhile, manufacturing in the “developing world” has absolutely exploded.

#7 “We’re like a whipping post for other countries. We are standing there and just being beaten by South Korea, by Mexico, by China, by India.”

Most Americans have absolutely no idea how lopsided many of our “trade agreements” actually are.  Other nations openly manipulate their currencies in order to keep their exports dirt cheap and we allow it.  Other nations openly subsidize their domestic industries that are directly competing with businesses in the United States and we don’t complain.  Other nations make it incredibly difficult for American companies to do business in their countries while we allow foreign corporations to come on in and do pretty much whatever they want here.

Then there are certain nations (such as China) that brazenly rip off trade secrets from foreign corporations time after time after time and never get penalized for it.

Meanwhile, our economy continues to bleed jobs at a staggering pace.  The number of net jobs gained by the U.S. economy during this past decade was smaller than during any other decade since World War 2.

Fortunately, more Americans than ever seem to be waking up and are realizing that globalism is causing many of these problems.  A NBC News/Wall Street Journal poll conducted last year discovered that 69 percent of Americans now believe that free trade agreements have cost America jobs.

#8 “All of our jobs are going to China. We’re rebuilding China and other places.”

China is doing great.  China is now the number one producer in the world of wind and solar power.  They now possess the fastest supercomputer on the entire globe.  China also now has the world’s fastest train and the world’s biggest high-speed rail network.

Most Americans don’t realize that China is literally kicking the crap out of us.

Back in 1998, the United States had 25 percent of the world’s high-tech export market and China had just 10 percent. Ten years later, the United States had less than 15 percent and China’s share had soared to 20 percent.

Every single month we buy about 4 times as much stuff from them as they buy from us.  Our trade deficit with China has ballooned to enormous proportions.  In fact, the U.S. trade deficit with China during this past August was more than 4,600 times larger than the U.S. trade deficit with China was for the entire year of 1985.

So when Donald Trump says that we are rebuilding China he is not joking around.

Nobel economist Robert W. Fogel of the University of Chicago is projecting that the Chinese economy will be three times larger than the U.S. economy by the year 2040 if current trends continue.

Yes, that is how serious things have become.

#9 “We are a laughingstock throughout the world.”

Donald Trump has said on several occasions that his friends and business partners in China just laugh and laugh at us.  They can’t even believe what they are getting away with.

We have become an incompetent giant that is the butt of all the jokes.

According to Stanford University economics professor Ed Lazear, if the U.S. economy and the Chinese economy continue to grow at current rates, the average Chinese citizen will be wealthier than the average American citizen in just 30 years.

Our formerly great industrial cities are slowly becoming ghost towns.  The number of long-term unemployed Americans is at an all-time high.  Tens of millions of Americans can’t even survive without government assistance anymore.  The number of Americans on food stamps set a new all-time record every single month during 2010, and now well over 43 million Americans are enrolled in the program.

We really have become a joke.

#10 “The federal government has no money.”

Unfortunately, our federal government has continued to borrow and spend like there is no tomorrow.

According to the Congressional Budget Office, the U.S. government will have the biggest budget deficit ever recorded (approximately 1.5 trillion dollars) this year.

So much for fiscal discipline, eh?

It is being projected that the U.S. national debt will increase by $150,000 per U.S. household between 2009 and 2021.

Do you have an extra $150,000 to contribute for your share?

By 2015 our national debt will be somewhere in the neighborhood of 20 trillion dollars.

It is the biggest mountain of debt in the history of the world by far, and it is the gift that we are going to pass down to future generations of Americans.

If there are any future generations of Americans.

#11 “I hate what is happening to this country.”

We should all hate what is happening to this country.  Our economic guts are being ripped out, we are being abused by the rest of the world, America’s infrastructure is being sold off piece by piece, our federal government is drowning in debt, our state governments are drowning in debt and our local governments are drowning in debt.

The only way we can even keep going is to run around to the rest of the world and beg them to keep lending us more money.

The mainstream media keeps proclaiming that we are the greatest economy on earth, but the truth is that we are being transformed into a pathetic loser and our politicians are just standing there with their hands in their pockets letting it happen.

All red-blooded Americans should be horrified by what is happening to this nation.  We have been betrayed by corrupt and incompetent leaders.  As a nation, we have become fat, lazy and stupid.

Hopefully what Donald Trump and others are saying about a coming economic collapse will serve as a huge wake up call and the sleeping giant will arise once again.

If the sleeping giant does not arise, we are in a massive amount of trouble, because right now the road we are on is leading to the biggest economic collapse the world has ever seen.

20 Shocking New Economic Records That Were Set In 2010

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.

So will things improve in 2011?  That would be nice, but at this point there are not a whole lot of reasons to be optimistic about the economy.  The truth is that we are trapped in a period of long-term economic decline and we are now paying the price for decades of horrible decisions.

Amazingly, many of our politicians and many in the mainstream media have declared that “the recession is over” and that the U.S. economy is steadily improving now.

Well, if anyone tries to tell you that the economy got better in 2010, just show them the statistics below.  That should shut them up for a while.

The following are 20 new economic records that were set during 2010….

#1 An all-time record of 2.87 million U.S. households received a foreclosure filing in 2010.

#2 The number of homes that were actually repossessed reached the 1 million mark for the first time ever during 2010.

#3 The price of gold moved above $1400 an ounce for the first time ever during 2010.

#4 According to the American Bankruptcy Institute, approximately 1.53 million consumer bankruptcy petitions were filed in 2010, which was up 9 percent from 1.41 million in 2009.  This was the highest number of personal bankruptcies we have seen since the U.S. Congress substantially tightened U.S. bankruptcy law several years ago.

#5 At one point during 2010, the average time needed to find a job in the United States had risen to an all-time record of 35.2 weeks.

#6 Back in 1970, 25 percent of all jobs in the United States were manufacturing jobs. Today, only 9 percent of the jobs in the United States are manufacturing jobs, which is believed to be a new record low.

#7 The number of Americans working part-time jobs “for economic reasons” was the highest it has been in at least five decades during 2010.

#8 The number of American workers that are so discouraged that they have given up searching for work reached an all-time high near the end of 2010.

#9 Government spending continues to set new all-time records.  In fact, at the moment the U.S. government is spending approximately 6.85 million dollars every single minute.

#10 The number of Americans on food stamps surpassed 43 million by the end of 2010.  This was a new all-time record, and government officials fully expect the number of Americans enrolled in the program to continue to increase throughout 2011.

#11 The number of Americans on Medicaid surpassed 50 million for the first time ever in 2010.

#12 The U.S. Census Bureau originally announced that 43.6 million Americans are now living in poverty and according to them that was the highest number of Americans living in poverty that they had ever recorded in 51 years of record-keeping.  But now the Census Bureau says that they miscalculated and that the real number of poor Americans is actually 47.8 million.

#13 According to the FDIC, 157 banks failed during 2010.  That was the highest number of bank failures that the United States has experienced in any single year during the past decade.

#14 The Federal Reserve brought in a record $80.9 billion in profits during 2010.  They returned $78.4 billion of that to the U.S. Treasury, but the real story is that thanks to the Federal Reserve’s continual debasement of our currency, the U.S. dollar was worth less in 2010 than it ever had been before.

#15 It is projected that the major financial firms on Wall Street will pay out an all-time record of $144 billion in compensation for 2010.

#16 Americans now owe more than $881 billion on student loans, which is a new all-time record.

#17 In July, sales of new homes in the United States declined to the lowest level ever recorded.

#18 According to Zillow, U.S. housing prices have now declined a whopping 26 percent since their peak in June 2006.  Amazingly, this is even farther than house prices fell during the Great Depression.  From 1928 to 1933, U.S. housing prices only fell 25.9 percent.

#19 State and local government debt reached at an all-time record of 22 percent of U.S. GDP during 2010.

#20 The U.S. national debt has surpassed the 14 trillion dollar mark for the first time ever and it is being projected that it will soar well past 15 trillion during 2011.

There are some people that have a hard time really grasping what statistics actually mean.  For people like that, often pictures and charts are much more effective.  Well, that is one reason I like to include pictures and graphs in many of my articles, and below I have posted my favorite chart from this past year.  It shows the growth of the U.S. national debt from 1940 until today.  I honestly don’t know how anyone can look at this chart and still be convinced that our nation is not headed for a complete financial meltdown….

Even Tony Robbins Is Warning That An Economic Collapse Is Coming

It seems like almost everyone is warning of a coming economic collapse these days.  Do you remember Tony Robbins?  He is probably the world’s best known “motivational speaker” and his infomercials dominated late night television during the 80s and 90s.  He was always urging all of us to “unleash the power within” and to take charge of our lives.  Well guess what?  Now Tony Robbins is warning that an economic collapse is coming. In fact, he has issued a special video warning about what he believes is about to happen. Considering the incredible connections that he has at the highest levels of the financial world, it makes a lot of sense to consider what he is trying to warn us about. Robbins says that a “major retracement” is coming to financial markets and that the coming collapse is going to be a “painful process” as we go through it.  Those familiar with Tony Robbins know that he always goes out of his way to stress the positive, so if even he is openly warning the public about a coming economic nightmare than you know that things are starting to get really, really bad out there.

The video that Tony Robbins published where he gives his economic warning is posted in two parts below.  This is unlike any Tony Robbins video that you have ever seen before and it is absolutely jaw dropping….  

Part 1:

Part 2:

So is Tony Robbins right about what is coming?

Yup.

An economic collapse is coming.

You need to get prepared.

For those not familiar with my previous articles, let’s review just some of the reasons why America is headed towards an economic nightmare of unprecedented proportions….

The National Debt – The U.S. government has accumulated a national debt that is rapidly approaching the 14 trillion dollar mark.  According to Democrat Erskine Bowles, one of the heads of Barack Obama’s national debt commission, if we continue on the path we are on the U.S. government will be spending $2 trillion just for interest on the national debt by 2020.

State And Local Debt – Many of America’s state and local governments may be in even worse financial shape than the federal government is.  In fact, some state and local governments are in such a financial mess that they have starting cutting off even the most essential services.

Consumer Debt – The total amount of consumer debt that Americans have accumulated now stands at approximately 11.7 trillion dollars

The Trade Deficit – The U.S. trade deficit has exploded to nightmarish proportions over the past two decades.  Every single month tens of billions more dollars flows out of the country than flows into it.  The rest of the world is literally bleeding us dry in slow motion.

No Jobs – Today it takes the average unemployed American over 8 months to find a job.  The number of Americans receiving long-term unemployment benefits has risen over 60 percent in just the past year.

The Credit Crunch – The U.S. is experiencing a credit crunch unlike anything it has seen since the Great Depression.  Lending has really, really dried up, but without loans our economic system cannot function properly.

The Housing Crisis – Even with mortgage rates at historic lows, a shockingly low number of Americans are buying houses.  There has been a total collapse in home sales since the home buyer tax credit expired.  At the same time, mortgage defaults, foreclosures and home repossessions by banks continue to set new all-time records. 

Rising Bankruptcies – Nationwide, bankruptcy filings rose 20 percent in the 12-month period ending June 30th.

Rising Poverty – One out of every eight Americans and one out of every four American children are now on food stamps.  Approximately 50 million Americans couldn’t even afford to buy enough food to stay healthy at some point last year.

The Coming Pension Crisis – America is facing a pension crisis that is so nightmarish that it is almost impossible to adequately describe it.  State and local government pension plans are woefully underfunded, dozens of large corporate pension plans either have collapsed or are on the verge of collapsing, Social Security is a complete and total financial disaster and about half of all Americans essentially have nothing saved up for retirement.

The Derivatives Bubble – Our financial system has become a gigantic gambling parlor and we have allowed a horrific derivatives bubble to develop that could destroy the entire world economy if it ever bursts.  Nobody knows exactly how big the derivatives bubble is, but low estimates place it at around 600 trillion dollars and high estimates put it at around 1.5 quadrillion dollars.  Once that bubble pops there simply will not be enough money in the entire world to fix it.

The Federal ReserveThe Federal Reserve has devalued the U.S. dollar by over 95 percent since 1913 and it has been used to create the biggest mountain of government debt in the history of the world.  There are many economists who would argue that the Federal Reserve is at the very core of our economic problems.

As we get even closer to the economic abyss that we are racing towards, even more big names such as Tony Robbins will come forward with warnings.

The truth is that these problems did not develop overnight, and they are not going to be solved overnight either. 

Perhaps our economic future is best summed up by this one statement that economist Paul Krugman recently made….

“America is now on the unlit, unpaved road to nowhere.”

It would be great if I could write about America’s bright economic future and the unlimited prosperity that is ahead for all of us, but that would be a lie.

We are headed for an economic collapse.

It is going to be painful.

It is time to get prepared.

25 Questions To Ask Anyone Who Is Delusional Enough To Believe That This Economic Recovery Is Real

If you listen to the mainstream media long enough, you just might be tempted to believe that the United States has emerged from the recession and is now in the middle of a full-fledged economic recovery.  In fact, according to Obama administration officials, the great American economic machine has roared back to life, stronger and more vibrant than ever before.  But is that really the case?  Of course not.  You would have to be delusional to believe that.  What did happen was that all of the stimulus packages and government spending and new debt that Obama and the U.S. Congress pumped into the economy bought us a little bit of time.  But they have also made our long-term economic problems far worse.  The reality is that the U.S. cannot keep supporting an economy on an ocean of red ink forever.  At some point the charade is going to come crashing down. 

And GDP is not a really good measure of the economic health of a nation.  For example, if you would have looked at the growth of GDP in the Weimar republic in the early 1930s, you may have been tempted to think that the German economy was really thriving.  German citizens were spending increasingly massive amounts of money.  But of course that money was becoming increasingly worthless at the same time as hyperinflation spiralled out of control.

Well, today the purchasing power of our dollar is rapidly eroding as the price of food and other necessities continues to increase.  So just because Americans are spending a little bit more money than before really doesn’t mean much of anything.  As you will see below, there are a whole bunch of other signs that the U.S. economy is in very, very serious trouble. 

Any “recovery” that the U.S. economy is experiencing is illusory and will be quite temporary.  The entire financial system of the United States is falling apart, and the powers that be can try to patch it up and prop it up for a while, but in the end this thing is going to come crashing down.

But as obvious as that may seem to most of us, there are still quite a few people out there that are absolutely convinced that the U.S. economy will fully recover and will soon be stronger than ever.

So the following are 25 questions to ask anyone who is delusional enough to believe that this economic recovery is real….  

#1) In what universe is an economy with 39.68 million Americans on food stamps considered to be a healthy, recovering economy?  In fact, the U.S. Department of Agriculture forecasts that enrollment in the food stamp program will exceed 43 million Americans in 2011.  Is a rapidly increasing number of Americans on food stamps a good sign or a bad sign for the economy?

#2) According to RealtyTrac, foreclosure filings were reported on 367,056 properties in the month of March.  This was an increase of almost 19 percent from February, and it was the highest monthly total since RealtyTrac began issuing its report back in January 2005.  So can you please explain again how the U.S. real estate market is getting better?

#3) The Mortgage Bankers Association just announced that more than 10 percent of U.S. homeowners with a mortgage had missed at least one payment in the January-March period.  That was a record high and up from 9.1 percent a year ago.  Do you think that is an indication that the U.S. housing market is recovering?

#4) How can the U.S. real estate market be considered healthy when, for the first time in modern history, banks own a greater share of residential housing net worth in the United States than all individual Americans put together?

#5) With the U.S. Congress planning to quadruple oil taxes, what do you think that is going to do to the price of gasoline in the United States and how do you think that will affect the U.S. economy?

#6) Do you think that it is a good sign that Arnold Schwarzenegger, the governor of the state of California, says that “terrible cuts” are urgently needed in order to avoid a complete financial disaster in his state?

#7) But it just isn’t California that is in trouble.  Dozens of U.S. states are in such bad financial shape that they are getting ready for their biggest budget cuts in decades.  What do you think all of those budget cuts will do to the economy?

#8) In March, the U.S. trade deficit widened to its highest level since December 2008.  Month after month after month we buy much more from the rest of the world than they buy from us.  Wealth is draining out of the United States at an unprecedented rate.  So is the fact that the gigantic U.S. trade deficit is actually getting bigger a good sign or a bad sign for the U.S. economy?

#9) Considering the fact that the U.S. government is projected to have a 1.6 trillion dollar deficit in 2010, and considering the fact that if you went out and spent one dollar every single second it would take you more than 31,000 years to spend a trillion dollars, how can anyone in their right mind claim that the U.S. economy is getting healthier when we are getting into so much debt?

#10) The U.S. Treasury Department recently announced that the U.S. government suffered a wider-than-expected budget deficit of 82.69 billion dollars in April.  So is the fact that the red ink of the U.S. government is actually worse than projected a good sign or a bad sign?

#11) According to one new report, the U.S. national debt will reach 100 percent of GDP by the year 2015.  So is that a sign of economic recovery or of economic disaster?

#12) Monstrous amounts of oil continue to gush freely into the Gulf of Mexico, and analysts are already projecting that the seafood and tourism industries along the Gulf coast will be devastated for decades by this unprecedented environmental disaster.  In light of those facts, how in the world can anyone project that the U.S. economy will soon be stronger than ever?

#13) The FDIC’s list of problem banks recently hit a 17-year high.  Do you think that an increasing number of small banks failing is a good sign or a bad sign for the U.S. economy?

#14) The FDIC is backing 8,000 banks that have a total of $13 trillion in assets with a deposit insurance fund that is basically flat broke.  So what do you think will happen if a significant number of small banks do start failing?

#15) Existing home sales in the United States jumped 7.6 percent in April.  That is the good news.  The bad news is that this increase only happened because the deadline to take advantage of the temporary home buyer tax credit (government bribe) was looming.  So now that there is no more tax credit for home buyers, what will that do to home sales? 

#16) Both Fannie Mae and Freddie Mac recently told the U.S. government that they are going to need even more bailout money.  So what does it say about the U.S. economy when the two “pillars” of the U.S. mortgage industry are government-backed financial black holes that the U.S. government has to relentlessly pour money into?

#17) 43 percent of Americans have less than $10,000 saved for retirement.  Tens of millions of Americans find themselves just one lawsuit, one really bad traffic accident or one very serious illness away from financial ruin.  With so many Americans living on the edge, how can you say that the economy is healthy?

#18) The mayor of Detroit says that the real unemployment rate in his city is somewhere around 50 percent.  So can the U.S. really be experiencing an economic recovery when so many are still unemployed in one of America’s biggest cities?

#19) Gallup’s measure of underemployment hit 20.0% on March 15th.  That was up from 19.7% two weeks earlier and 19.5% at the start of the year.  Do you think that is a good trend or a bad trend?

#20) One new poll shows that 76 percent of Americans believe that the U.S. economy is still in a recession.  So are the vast majority of Americans just stupid or could we still actually be in a recession?

#21) The bottom 40 percent of those living in the United States now collectively own less than 1 percent of the nation’s wealth.  So is Barack Obama’s mantra that “what is good for Wall Street is good for Main Street” actually true?

#22) Richard Russell, the famous author of the Dow Theory Letters, says that Americans should sell anything they can sell in order to get liquid because of the economic trouble that is coming.  Do you think that Richard Russell is delusional or could he possibly have a point?

#23) Defaults on apartment building mortgages held by U.S. banks climbed to a record 4.6 percent in the first quarter of 2010.  In fact, that was almost twice the level of a year earlier.  Does that look like a good trend to you?

#24) In March, the price of fresh and dried vegetables in the United States soared 49.3% – the most in 16 years.  Is it a sign of a healthy economy when food prices are increasing so dramatically?

#25) 1.41 million Americans filed for personal bankruptcy in 2009 – a 32 percent increase over 2008.  Not only that, more Americans filed for bankruptcy in March 2010 than during any month since U.S. bankruptcy law was tightened in October 2005.  So shouldn’t we at least wait until the number of Americans filing for bankruptcy is not setting new all-time records before we even dare whisper the words “economic recovery”?

$4.00 A Gallon Gasoline By The End Of 2010? How In The World Are Average Americans Going To Make Ends Meet If This Keeps Up?

Gas prices are on the rise again.  In many areas of the U.S. gas prices are already hovering around $3.00 a gallon.  In fact there are some areas where people are paying as much as $3.50 a gallon, and many experts are predicting that gasoline could hit $4.00 a gallon by the end of 2010.  If this nonsense keeps up, how in the world is the average American family supposed to make ends meet?  Not only is filling up our tanks going to cost a lot more, but the price of gasoline factors into so many other things.  The U.S. economy just cannot handle a major increase in transportation costs at this point.  These increasing gasoline prices come at a time when U.S. consumers are already stretched to the max.

But it isn’t just gasoline prices that are going up.  The price of food is really starting to rise as well.  Rising demand and reduced supply drove supermarket prices for 16 basic foods up 6.2% in the first quarter of 2010.

Now, for those Americans who are independently wealthy, a large increase in gasoline and food prices might not mean much.

But for the rest of us who are trying to get our incomes to stretch as far as possible each month, it means a whole lot.

In fact, a record number of working Americans are finding that their paychecks are just not making it and are turning to government assistance programs such as food stamps just to make it.

According to the U.S. Department of Agriculture, approximately 39.4 million Americans, a new all-time record, received food stamps in January.  This was up 22% from a year earlier.  In fact, the number of Americans on food stamps has hit all-time records for 14 consecutive months.

New all-time records for 14 months in a row?

How in the world can anyone claim that the U.S. economy is in good shape?

And it is just not people who are out of work or who are lazy who are applying for food stamps.  The truth is that a lot of hard working Americans who are doing everything they can to better themselves find themselves out of alternatives these days.

Some of those hard working Americans are readers of this site.  One of them recently left a comment that is very timely….

There are people on food stamps now, that you would never think they were. For example myself, I just went on food stamps last month. I am not a welfare mom, unemployed or declaring bankruptcy, I am educated and working as hard as I can to make ends meet.

I hold a Masters degree, and a part time job. I make minimum wage and if I were scheduled 40 hours a week my pay would just cover my expenses. Problem is, with retail the number of hours changes from week to week, and it hasn’t been near 40 since Christmas. Luckily I planned ahead and put money aside if I couldn’t find a job right out of school, or if I found one and lost it with today’s economy. I have been able to cover the bills my paycheck doesn’t, but the thing is, my savings has gotten low to that.

I honestly really didn’t want to go on food stamps, I just can’t find another job. Let that be a full time position, or even another part time one. I’m applying to everything I’m qualified for, remotely qualified for, and even over qualified for. But there really are that few of jobs out there.

I haven’t really told anyone I’m on food stamps, a good portion of my old friends are still in school and don’t understand why I can’t find a “real” job. Luckily at my new job there’s a whole store of people who know exactly what I’m going through and would never think of judging me for how much I make or where I live.

There are other people too. Once at work a mother with three kids came in, she had never used food stamps before and had no idea what to do at the register. She almost came to tears trying to explain she really didn’t want to use them, but her husband lost his job, and all that was left for the family was her part time job, and she was so ashamed they had them.

People really have no idea how many of their neighbors are on food stamps.

—-

Millions of Americans have done everything that the system has told them to do, and now the system is letting them down.

Why?

Because the system is failing.

The middle class is slowly being squeezed out of existence, and the years ahead are going to be very painful.

Already, it is getting extremely hard to live a middle class lifestyle.

If you haven’t read “It’s Impossible to Get By In the US” by Graham Summers of Phoenix Capital Research, you really need to.  In his article, Summers analyzes the expenses of a typical family making the median U.S. household income of $50,300 (he was using 2008 figures).  According to Summers, if a family making that much did everything right financially, they would maybe have a couple hundred bucks at the end of the month for discretionary spending.  But if they overpaid for their house or had any consumer debt then according to his calculations the typical American family would be operating in the red.

The truth is that the day is fast approaching when it will not be possible for the average American family to make it from month to month.

Even now record numbers of American families are failing financially.

In March 2010, there were 158,000 bankruptcy filings.  That was up 19% from March 2009’s number, and it was also up 35% from February 2010’s number.

Things are getting scary out there.

But if all of that wasn’t bad enough, now state and local governments across the United States are either implementing or are considering substantial tax increases.  State and local governments all over the U.S. are facing unprecedented shortfalls, and they are looking for new sources of revenue.  But you just can’t get blood out of a stone.  Unfortunately, they are likely to keep finding ways to impose new taxes on us anyway.

So is there any good news?

No, not really.

The United States is heading for a complete economic collapse and everyone is going to feel the pain one way or another.

Just make sure that you and your family are as prepared as possible for the years ahead.

“The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.”
-Vladimir Lenin

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