The Beginning Of The End
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Do Wall Street Insiders Expect Something Really BIG To Happen Very Soon?

Do Wall Street Insiders Expect Something Really BIG To Happen Very Soon? - Photo by nosha on flickrWhy are corporate insiders dumping huge numbers of shares in their own companies right now?  Why are some very large investors suddenly making gigantic bets that the stock market will crash at some point in the next 60 days?  Do Wall Street insiders expect something really BIG to happen very soon?  Do they know something that we do not know? What you are about to read below is startling.  Every time that the market has fallen in recent years, insiders have been able to get out ahead of time.  David Coleman of the Vickers Weekly Insider report recently noted that Wall Street insiders have shown “a remarkable ability of late to identify both market peaks and troughs”.  That is why it is so alarming that corporate insiders are selling nine times as many shares as they are buying right now.  In addition, some extraordinarily large bets have just been made that will only pay off if the financial markets in the U.S. crash by the end of April.  So what does all of this mean?  Well, it could mean absolutely nothing or it could mean that there are people out there that actually have insider knowledge that a market crash is coming.  Evaluate the evidence below and decide for yourself…

For some reason, corporate insiders have chosen this moment to unload huge amounts of stock.  According to a CNN article, corporate insiders are now selling nine times more of their own shares than they are buying…

Corporate insiders have one word for investors: sell.

Insiders were nine times more likely to sell shares of their companies than buy new ones last week, according to the Vickers Weekly Insider report by Argus Research.

What makes this so alarming is that corporate insiders have been exceedingly good at “timing the market” in recent years.  The following comes from a recent CNBC article entitled “Sucker Alert? Insider Selling Surges After Dow 14,000“…

“In almost perfect coordination with an equity market that was rushing toward new all-time highs, insider sentiment has weakened sharply — falling to its lowest level since late March 2012,” wrote David Coleman of the Vickers Weekly Insider report, one of the longest researchers of executive buying and selling on Wall Street. “Insiders are waving the cautionary flag in an increasingly aggressive manner.”

There have been more than nine insider sales for every one buy over the past week among NYSE stocks, according to Vickers. The last time executives sold their company’s stock this aggressively was in early 2012, just before the S&P 500 went on to correct by 10 percent to its low for the year.

“Insiders know more than the vast majority of market participants,” said Enis Taner, global macro editor for RiskReversal.com. “And they’re usually right over a long period of time.”

There are other indications that the stock market may be headed for a significant tumble in the months ahead.  For example, as a Zero Hedge article recently pointed out, the last time that the financial markets in the U.S. were as “euphoric” as they are now was right before the financial crisis of 2008.

And as I mentioned above, some people out there have recently made some absolutely jaw-dropping bets against stocks which will only pay off if there is a financial crash at some point in the next few months.

According to Business Insider, the recent purchase of 100,000 put options by a mystery investor has a lot of people on Wall Street talking…

According to Barron’s columnist Steven Sears, someone made a big bet against the financials ETF yesterday (ticker symbol XLF), and it has everybody buzzing.

The trader bought 100,000 put options on the ETF (a put option increases in value when the price of the underlying asset, in this case, the ETF, goes down).

To put that number in perspective, Sears writes, “Few investors ever trade more than 500 contracts, so a 100,000 order tends to stop traffic and prompt all sorts of speculation about what’s motivating the trade.” According to Sears, the trade “has sparked conversations across the market.”

Reportedly, those put options expire in April.

And as Art Cashin of UBS has noted, there was also another extremely large bet that was placed recently that is banking on a financial crash within the next two months…

A Very Big Bet In A Somewhat Unlikely Instrument – My friend, Jim Brown, the ever-alert consummate professional over at Option Investor pointed us to a rather unusual trade. Here’s what he wrote in last night’s edition of his valuable newsletter:

In past years I have reported on trades that were so large it appeared someone had inside knowledge of a pending event. Sometimes those were massive put positions on the S&P. A new trade just appeared that suggests there will be a market event in the near future. Last week somebody put on a call spread on the VIX using the April 20 and 25 puts. They bought 150,000 contracts for a net of $75 per contract. That is an $11,250,000 bet that the VIX will move over 20 over the next 60 days. You would have to be VERY confident in your outlook to risk $11 million on a directional position with the VIX at five year lows and the markets trying to break out to new highs.

So does all of this guarantee that the stock market is going to move a certain way?

Of course not.

But when you step back and look at the bigger picture, it does appear that Wall Street insiders are preparing for something.

Meanwhile, the government continues to assure us that happy days are here again for the U.S. economy and that we don’t have anything to worry about.

The Congressional Budget Office has just released a report that contains their outlook for the next decade.  The report is entitled “The Budget and Economic Outlook: Fiscal Years 2013 to 2023″, and if you want a good laugh you should read it.

Here are some of the things that the CBO believes will happen…

-The CBO believes that government revenues will more than double by 2023.

-The CBO believes that government revenue as a percentage of GDP will rise from 15.8 percent today to 19.1 percent in 2023.

-The CBO believes that the unemployment rate will continually fall over the next decade.

-The CBO believes that the federal budget deficit will fall to just 2.4% of GDP in fiscal year 2015.

-The CBO believes that the federal budget deficit will only be $430 billion in 2015.

-The CBO believes that we will not have a single recession over the next decade.

-The CBO believes that inflation will stay at about 2 percent for the next decade.

-The CBO believes that U.S. GDP will grow by a total of 67 percent by 2023.

Wow, all of that sounds great until you go back and take a look at how CBO projections have fared in the past.

In fact, Bruce Krasting has gone back and looked at the numbers from the Congressional Budget Office’s Budget and Economic Outlook 2003.  I think that you will find the differences between the CBO projections and what really happened to be very humorous…

Estimated 10-year budget surplus = $5.6T.

Reality = $6.6T deficit. A 200+% miss.

 

Estimate for 2012 Debt Held by Public = $1.2T (5% of GDP).

Reality = Debt Held by Public = $11.6T. A 1000% miss.

 

Estimated fiscal 2012 GDP = $17.4T.

Reality = $15.8T. A $1.6T (10%) miss.

So should we trust what the CBO is telling us now?

Of course not.

Instead, perhaps we should listen to some of the men that successfully warned us about the last financial crisis…

-“Dr. Doom” Marc Faber recently stated that he “loves the high odds of a ‘big-time’ market crash“.

-Economist Nouriel Roubini says that we should “prepare for a perfect storm“.

-Pimco’s Bill Gross says that we are heading for a “credit supernova“.

-Nomura’s Bob Janjuah believes that the financial markets will experience one more huge spike before collapsing by up to 50%

I continue to believe that the S&P500 can trade up towards the 1575/1550 area, where we have, so far, a grand double top. I would not be surprised to see the S&P trade marginally through the 2007 all-time nominal high (the real high was of course seen over a decade ago – so much for equities as a long-term vehicle for wealth creation!). A weekly close at a new all-time high would I think lead to the final parabolic spike up which creates the kind of positioning extreme and leverage extreme needed to create the conditions for a 25% to 50% collapse in equities over the rest of 2013 and 2014, driven by real economy reality hitting home, and by policymaker failure/loss of faith in “their system”.

The truth is that no matter how much money printing the Federal Reserve does, it is only a matter of time before the financial markets catch up with economic reality.

The U.S. economy has been in decline for a very long time, and things just continue to get even worse.  Here are just a few numbers…

-The percentage of the civilian labor force that is employed has fallen every single year since 2006.

-According to John Williams of shadowstats.com, truly accurate numbers would show that U.S. GDP growth has actually been continuously negative all the way back to 2005.

-U.S. families that have a head of household that is under the age of 30 have a poverty rate of 37 percent.

-One recent survey found that nearly half of all Americans are living on the edge of financial ruin.

-According to the U.S. Census Bureau, there are more than 146 million Americans that are considered to be either “poor” or “low income” at this point.

For many more statistics that demonstrate that the U.S. economy has continued to decline in recent years, please see this article: “37 Statistics Which Show How Four Years Of Obama Have Wrecked The U.S. Economy“.

So where is all of this headed?

Well, after the next major financial crisis in America things are going to get very tough.

We can get a hint for how things are going to be by taking a look at what is going on over in Europe right now.

Can you imagine people trampling each other for food?  That is what is happening in Greece.  Just check out this excerpt from a Reuters article

Hundreds of people jostled for free vegetables handed out by farmers in a symbolic protest earlier on Wednesday, trampling one man and prompting an outcry over the growing desperation created by economic crisis.

Images of people struggling to seize bags of tomatoes and leeks thrown from a truck dominated television, triggering a bout of soul-searching over the new depths of poverty in the debt-laden country.

The suffering that the Greeks are experiencing right now will come to this country soon enough.

So enjoy this false bubble of debt-fueled prosperity while you can.  It is going to end way too soon, and after that there will be a whole lot of pain.

Wall Street - Photo by Andrés Nieto Porras

The Facebook IPO: The Last Great Wall Street Party

The Facebook IPO is kind of like a graduation party – everybody comes together for one huge blowout to celebrate the end of an era before going their separate ways.  Unfortunately, most people on Wall Street do not understand how bittersweet this moment really is.  A tremendous amount of pain is ahead for Wall Street in the next few years, and we will probably never see anything like the Facebook IPO ever again. But the Facebook IPO sure has been fun to watch.  Facebook is one of the largest companies to ever go public in the United States.  According to CNN, 247 million shares of Facebook exchanged hands in the first 45 minutes of trading.  The Facebook IPO was nearly ten times larger than any other Internet IPO in history, and the amount of money being made by some people on this deal is absolutely amazing.  For example, it is being reported that Bono will make more money on the Facebook IPO than he has from being part of the band U2 for the past 30 years.  Sadly, this euphoria is not going to last for long.  The next wave of the global financial collapse is rapidly approaching, and once it strikes there will not be much for anyone on Wall Street to be smiling about at all.

During the IPO process, Facebook sold more than 420 million shares and raised about 16 billion dollars.

Those are incredible numbers.

At 38 dollars per share, Facebook would have a market cap of about 81 billion dollars.

So is Facebook worth 81 billion dollars?

Of course not.

But most stocks are tremendously overvalued at this point.

Yes, Facebook has 900 million users and it made about a profit of about a billion dollars last year.

But that does not add up to an 81 billion dollar company.

Not even close.

A recent article by Jay Yarow explained this in more detail….

As good a business as that is, it’s not Google good. It’s not Apple good. And at the current IPO pricing, Facebook has to be a much better business in the near future.

In fact, Yarow says that Facebook is going to have to dramatically improve in order to justify the current valuation….

So, what’s the bull’s case for Facebook? Unfortunately, it comes down to faith. You have to have faith that Mark Zuckerberg, Sheryl Sandberg, and the rest of the executives at Facebook will discover a magical money making product that will justify its valuation.

Unfortunately, there are already signs that the growth of Facebook is slowing down.

Advertising revenue during the first quarter of 2012 was only $872 million.  That was a decline of 7.5 percent from the previous quarter.

And eventually someone will come along and topple Facebook just like Facebook toppled MySpace.

Remember MySpace?

Facebook did not even exist a decade ago.  Right now there are young kids tinkering around in their college dorm rooms trying to figure out how to create something that will be even better than Facebook.

The truth is that Facebook is operating on borrowed time.  It is not going to remain “hot” and “trendy” forever.

But for the moment, there are a whole lot of people out there that want a piece of Facebook.

Hey, I am not in the stock market at all, but even I am half-tempted to buy a few shares so that I can introduce myself as a “part-owner of Facebook”.

After all, who doesn’t like Facebook?

Yes, government agencies and big corporations use Facebook to spy on all of us.  If you don’t believe this, just check out this article, this article and this article.

But there is an incredible upside to social networking websites such as Facebook and Twitter as well.

They have given average people the ability to communicate directly with each other on a massive scale.

In the past, the big corporations pretty much had a monopoly on mass communication.

If you wanted to get your message out independently of the big corporations, you could hand out fliers, you could send out mass mailings (very expensive) or you could try to get a book printed.

But today something that you post on Facebook or Twitter could be seen by thousands (or even millions) of people within a few days.

The Internet is filled with a whole lot of garbage, but it can also be used as an incredible tool for good.

Sitting at home behind your desk, you have the potential to touch the lives of people on the other side of the globe through the Internet that you would probably never have a chance of influencing any other way.

So I am very thankful for Facebook.

We should use tools like Facebook to wake people up while there is still time.  Our world is becoming increasingly unstable and we might not always have the opportunity to freely share our thoughts with the entire globe like this.

Just try to imagine a world without Facebook, Twitter, YouTube, blogs and Internet forums.

All of those things have only existed for a relatively short period of time, and there is no guarantee that we will always have them.

Instead of wasting our lives away in front of our televisions, we should be taking advantage of these tools to help change the world.

Every single day, hundreds of people are directed to my website from Facebook.  I am hoping to eventually increase that to thousands of people per day.

A great economic collapse is coming to this world.  People need to keep their eyes on the financial crisis in Europe and on the derivatives market.  The coming financial tsunami will likely be even worse than the crash of 2008.

People are going to be looking for answers.

Now is the time to be a light shining in the darkness.

Not everyone has the time or the knowledge to be able to set up a website or make YouTube videos, but nearly everyone is capable of setting up a Facebook account or a Twitter account.

If you make even a small effort, you could end up touching the lives of thousands upon thousands of people.

Yes, there are a lot of negative things that can be said about Facebook, but at least for today let us celebrate it for what it has given us.

It has given us the opportunity to make a difference on a massive scale, and that is a wonderful thing.

If You Live In California Things Just Got A Whole Lot Worse

Why does the state of California seem to be so incredibly hopeless?  These days California can’t seem to do anything right, and if you live in California things just got a whole lot worse.  Governor Brown has announced that the state budget deficit for this year is going to be much larger than projected, that more government services are going to be cut and that voters are going to vote on another round of tax increases in November.  Meanwhile, unemployment is sitting at 11 percent and extended federal unemployment benefits for workers in the state are ending.  Because California is one of the worst places in the nation to conduct business, there has been a steady flow of companies leaving the state.  Those companies have taken a whole lot of good jobs with them.  Due to the lack of jobs and a steady stream of impoverished immigrants coming in from Mexico and other countries, poverty in the state has exploded and crime is rapidly increasing.  California may be the land of “endless sunshine”, but for the California economy there are only dark clouds on the horizon.  The state is coming apart at the seams and there is not much hope that things are going to turn around any time soon.

These days, California is very similar to Greece in many ways.

Just like Greece, California has had round after round of “austerity” and yet still cannot seem to balance the budget.

Even after all of the cuts that have been implemented in recent years, the California budget deficit is still going to be far larger than originally projected this year.  The following is from the Los Angeles Times….

Gov. Jerry Brown announced on Saturday that the state’s deficit has ballooned to $16 billion, a huge increase over his $9.2-billion estimate in January.

The bigger deficit is a significant setback for California, which has struggled to turn the page on a devastating budget crisis. Brown, who announced the deficit on YouTube, is expected to outline his full budget proposal on Monday in Sacramento.

“This means we will have to go much further, and make cuts far greater, than I asked for at the beginning of the year,” Brown said in the video.

During his remarks on YouTube, Governor Brown stated that California is “still recovering from the worst recession since the 1930s” and he stressed that hard choices are ahead.

But the California state government has already cut back in so many places.  For example, back in the late 1970s the state of California was number one in per-pupil spending on education, but now California has fallen to 48th place.

Unfortunately, Governor Brown does not believe that budget cuts alone will solve the problem.

So you know what that means.

Tax increases!

The tax increases that California voters will be voting on in November were outlined in a recent Bloomberg article….

Brown this week submitted more than 1.5 million signatures to place the tax measure on the ballot. It would temporarily raise the state sales tax, already the highest in the U.S., to 7.5 percent from 7.25 percent. It would also boost rates on income starting at $250,000. The 10.3 percent levy on those making $1 million or more would rise to 13.3 percent, the most of any state.

Get ready to fire up the moving vans.

The rest of the California economy may be falling apart, but moving companies will continue to do very well.

As I have written about previously, California has already experienced a net loss of approximately four million residents to other states over the past 20 years.

If the top rate on those making a million dollars or more a year hits 13.3 percent you will see a lot more wealthy people leave.

And thousands of businesses have left California in recent years as well.  Sadly, one survey found that CEOs ranked California as the worst place in the United States to do business for seven years in a row.

You would think that the state legislature would get the message.

Unfortunately they have not.

California absolutely suffocates businesses with rules and regulations and it gets worse with each passing year.

So lots of good jobs continue to leave the state.

As mentioned earlier, the official rate of unemployment in California is sitting at 11 percent.  That is almost 3 points higher than for the nation as a whole.

Of course the “official” numbers greatly understate the true scope of the unemployment problem, but for more on that you can check out this article.

However you want to look at it, the reality is that California has a massive unemployment problem.

Sadly, a whole bunch of unemployed workers in California are about to lose their unemployment benefits.

On Saturday, more than 200,000 unemployed Americans were dumped off the unemployment rolls.  Close to half of them live in California.

Instead of 99 weeks, unemployed workers in California will now only be able to collect unemployment benefits for a maximum of 79 weeks.

It is estimated that a total of 93,000 people in California have suddenly lost their benefits as a result of this change.

Unfortunately, the truth is that the employment picture in California is not really getting any better.  It is still incredibly difficult to find a decent job.

Unless you are “connected”, it can be a horribly frustrating experience trying to find a new job in this economic environment.

But if you are truly desperate, there are some folks out there who are always hiring.

These days, “national security” is quite a growth industry.  For example, if you are currently unemployed you can always apply to work as an Internment/Resettlement Specialist for the national guard.

While the economy is going to pot, you can get paid to lock up other Americans that are protesting about the state of our country.

Doesn’t that sound fun?

But seriously, if you live in California right now you probably don’t need anyone else to tell you how bad things are.

You probably already know that the number of children living in poverty in the state of California has increased by 30 percent since 2007.

California is rapidly changing, and not for the better.

But it is not just the economy that is falling apart in California.  The truth is that there are a whole host of good reasons to move away from California.  The traffic is nightmarish, crime is on the rise, the gangs are bigger and more active than ever before, millions of illegal immigrants have poured into the state, and the control freak politicians become more insane with each passing year.

Plus there is the constant threat that your home will be destroyed by a mudslide, a wildfire or an earthquake.

One of these days the “big onewill hit California.

You do not want to be there when that happens.

But if you decide that you do want to move from California, what is the best state to move to?

That is a very good question.

The truth is that economic conditions are horrible in most of the country and are rapidly getting a whole lot worse.

According to one poll, 30 percent of all Americans described the condition of the economy as “good” back in February but only 20 percent do now.

When we enter the next major economic downturn, unemployment is going to go higher everywhere in the nation.

There will be small pockets where jobs are still plentiful (where the oil industry is strong for example) but almost everywhere else will be really hurting.

So what do all of you think?

For people looking to move away from California, where should they go?

Please feel free to post a comment with your thoughts below….

20 Signs You Might Be A Typical American Worker

Once upon a time, anyone that was relatively competent and willing to work hard could go out and easily get a job that would enable that person to financially support a family.  Unfortunately, that is simply no longer true anymore.  Well paying “middle income jobs” are being rapidly replaced with “low income jobs” and part-time jobs.  As the economy crumbles, it is becoming increasingly difficult for the typical American worker to survive from month to month.  The number of companies that provide benefits such as health insurance has fallen steadily over the past ten years, and paychecks have not been keeping up with the rising prices of food and gas.  Average American families are seeing their budgets squeezed like never before, and many of them are going into huge amounts of debt in order to make up the difference.  Sadly, this is a problem that has developed over an extended period of time and that is not going to be reversed overnight.  Over the past four decades, the ratio of wages and salaries to GDP in America has fallen dramatically.  The typical American worker is not as valued as much as he or she used to be, and if current trends continue even more of us will be working part-time jobs or “low income jobs” in the years ahead.

In America today there is a great deal of focus on the unemployed, but there are also millions upon millions of Americans that are working part-time jobs because that is all that they can find.

It can be absolutely soul crushing to go all the way through school getting good grades, spend a ton of money on an education, and then work for 8 bucks an hour doing meaningless work for some predator corporation that simply does not care about how talented you are.

Today, an astounding 48 percent of all Americans are considered to be either “low income” or are living in poverty.

According to the New York Times, approximately 100 million Americans are either living in poverty or in “the fretful zone just above it”.

A lot of those people actually do have jobs.  Unfortunately, a part-time job that pays 8 or 9 dollars an hour just will not get you anywhere close to getting over the poverty line.

This is not the way that the U.S. economy used to work.  Back in the old days, good paying jobs that would allow you to live “the American Dream” were plentiful.

But now millions upon millions of Americans are scrambling for anything that they can get.  According to a recent survey conducted by Gallup, the percentage of Americans that are working part-time jobs but that would like full-time jobs is now higher than it has been at any other time in the last two years.

In this economy, a good paying full-time job is incredibly precious.  If you still have one, you should consider yourself to be very fortunate.

Check out the following chart.  It is a chart that shows the level of wages and salaries as a percentage of GDP in the United States since the late 1940s.  As you can see, the slice of the pie being taken home by American workers has been dropping like a rock since about 1970….

Is that a clear trend or what?

And it is going to continue year after year as long as we continue to pursue the same foolish economic policies.

As our politicians continue to allow millions of American jobs to be shipped overseas, competition for the jobs that remain inside this country is becoming extremely intense.

Back in 1967, 97 percent of all U.S. men with a high school degree between the ages of 30 and 50 had jobs.  Today, that figure is down to 76 percent.

As you read this, there are hordes of hard working American workers sitting at home staring at their televisions as they wonder why nobody will hire them.

Right now, if you gathered together all of the unemployed people in the United States, they would constitute the 68th largest country in the world.

That is absolutely insane.

But even if you do have a job that does not mean that you are in good shape.  The percentage of “low income jobs” just continues to climb.  Back in 1980, less than 30% of all jobs in the United States were low income jobs.  Today, more than 40% of all jobs in the United States are low income jobs.

Many Americans work as hard as they can and still find that they must turn to the government for financial assistance.  According to author Paul Osterman, about 20 percent of all U.S. adults are currently working jobs that pay poverty-level wages.

And that number is just going to keep climbing unless we change what we are doing as a nation.

Perhaps you are working a “low income job” right now.  Most of us have worked a job like that at least once in our lives.  Hopefully you will find the following list amusing.  Yes, I have exaggerated a few things slightly, but I think you will get the point.

The following are 20 signs you might be a typical American worker….

#1 If you are working three jobs and you still don’t have enough money at the end of the month, you might be a typical American worker.

#2 If your job involves asking the question “Would you like fries with that?”, you might be a typical American worker.

#3 If you shop at the dollar store because Wal-Mart is too expensive, you might be a typical American worker.

#4 If your job requires you to wear a smock, a brightly colored polo shirt or lots of “flair”, you might be a typical American worker.

#5 If people are constantly asking you where the restroom is while you are at work, you might be a typical American worker.

#6 If your employer hires extra part-time workers in order to avoid giving anyone full-time hours, you might be a typical American worker.

#7 If you are required to watch a mindless “training video” after being hired, you might be a typical American worker.

#8 If the company you work for is owned by someone on the other side of the world, you might be a typical American worker.

#9 If a trained seal could do your job and you feel like your expensive education is going to waste, you might be at typical American worker.

#10 If you don’t have any health insurance at all, you might be a typical American worker.  Only about 25 percent of all part-time workers in the United States receive employee benefits such as health insurance or paid sick leave.

#11 If your car is older than your kids are, you might be a typical American worker.

#12 If you can’t afford to buy the things that you are selling to the public, you might be a typical American worker.

#13 If the balances on your credit cards are larger than your bank accounts are, you might be a typical American worker.

#14 If going to Burger King is your idea of “fine dining”, then you might be a typical American worker.

#15 If it costs more to fill up your car with gas than you will make at your job today, you might be a typical American worker.  The price of gasoline has increased by 83 percent since Barack Obama first took office, and the average cost of a gallon of gas in the United States is now up to $3.52.

#16 If you eat your cereal with a fork so that you can save milk, you might be a typical American worker.

#17 If your electricity bill keeps going up but your paycheck never does, you might be a typical American worker.

#18 If it feels like you are losing an organ every time you pay for health insurance each month, you might be a typical American worker.

#19 If you feel like your employer is constantly tempted to replace you with someone younger and cheaper, then you might be a typical American worker.

#20 If you are so poor that you cannot even afford to pay attention, you might be a typical American worker.

Unfortunately, a lot more Americans are going to be forced into working these kinds of jobs if current trends continue.

Since the year 2000, we have lost 10% of our middle class jobs even though our population has increased by more than 30 million since then.  In the year 2000 there were about 72 million middle class jobs in the United States, but today there are only about 65 million middle class jobs.

The lack of good jobs in America has some very real consequences.  In particular, our young adults are really feeling the pain of not being able to find quality employment.

According to a recent poll conducted by Generation Opportunity, huge numbers of Americans in the 18 to 29 year old age bracket are delaying major life decisions due to the poor economy….

-44% are delaying buying a home

-28% are delaying saving for retirement

-27% are delaying paying off student loans or other debt

-27% are delaying going back to school or getting more education

-23% are delaying starting a family

-18% are delaying getting married

All of those things take a lot of money, and if you simply don’t have the money it makes things really tough.

Sadly, the economy is about to get even worse.

As I have written about previously, what is going on in Greece right now is a warning sign for the rest of the world, and we are on the precipice of another major global financial crisis.

There are an increasing number of voices in the financial world that believe that we are going to see a Greek default in March.  So will this actually happen?  I certainly don’t know.  But what some folks are currently saying about the situation sure does make for interesting reading.

In the old days, you could graduate from college, get a good job, work for the same company for 30 years, save up for retirement and count on a comfortable life in your old age.

That paradigm is now totally shattered.  The entire global economic system is in a state of chaos and things change faster today than they ever have before.

If you have a job today, it may be gone tomorrow.

The financial institution or insurance company that you are working with today may be out of business by next month.

We live in a world that is becoming increasingly unstable.  That is why it is imperative to try to become more self-sufficient and less dependent on the system.

It is tough to plan in such an environment, but one thing is for sure – tough times are coming and things are not going to get any easier than they are now.

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