Help Us Spread The News By Sharing These Articles With Others:
|
 We are steamrolling toward a massive global debt meltdown, and at this point world leaders seem to be all out of solutions. Over the last 30 years or so, the greatest debt bubble in the history of the planet has produced unprecedented prosperity in the western world. But now that debt bubble is starting to burst and the bills are coming due. Many believe that "ground zero" for the coming global debt meltdown will be in Europe. Unlike the U.S. and Japan, the nations of the EU can't just print more money to cover their debts. Nations such as Greece, Portugal and Italy must repay their debts in euros, and those nations are rapidly getting to the point where their debts are going to overwhelm them. Unfortunately, major banks all over Europe are very highly leveraged and are also very heavily invested in the sovereign debt of nations such as Greece, Portugal and Italy. If even one EU nation defaults it will start tipping over financial dominoes. If more than one EU nation defaults it could cause a cataclysmic wave of bank failures all over Europe. (Read More....)
 Without an abundance of good jobs, the middle class in the United States is going to shrivel up and die. Right now, rampant unemployment is absolutely killing communities all over America. Hopelessness and poverty are exploding and many are now wondering if we are actually witnessing the slow death of the middle class. There simply are not nearly enough "good jobs" to go around anymore, and even many in the mainstream media are referring to this as a "long-term structural problem" with the economy. The only thing that most working class Americans have to offer in the marketplace is their labor. If nobody will hire them they do not have any other ways to provide for their families. Well, there is a problem. Today wealth has become incredibly centralized. The big corporations and the big banks dominate everything. Thanks to incredible advances in technology and thanks to the globalization of our economic system, the people with all the money don't have to hire as many ordinary Americans anymore. They can hire all the labor they want on the other side of the globe for a fraction of the cost. So the rich don't really have that much use for the working class in America anymore. The only thing of value that the working class had to offer has now been tremendously devalued. The wealthy don't have to pay a lot for physical labor anymore. Thousands of our factories and millions of our jobs have been shipped overseas and they aren't coming back. The big corporations are thriving while tens of millions of ordinary Americans are deeply suffering. Almost all of the wealth being produced by our economy is going to a very centralized group of people at the very top of the food chain. The rich are getting richer and the working class is being systematically wiped out. (Read More....)
 Is the United States "number one"? Many Americans take deep pride in their nation and the truth is that the U.S. has a lot going for it. The United States has the largest economy in the world. The United States also has the most powerful military on the entire planet. The United States has produced most of the greatest movies that the world has ever seen. But the United States is also number one in a lot of categories that are not go great. If we ever want to turn this country around, we need to be very honest with ourselves. We need to take a long, hard look in the mirror and realize that it is not a good thing that we are number one in divorce, drug addiction, debt, obesity, car thefts, murders and total crimes. We have become a slothful, greedy, decadent nation that is exhibiting signs of advanced decay. Until we understand just how bad our problems really are, we won't be able to come up with the solutions that we need. (Read More....)
 As the deadline to raise the debt ceiling draws closer, many are now wondering if Barack Obama will try to go around Congress if a deal is not reached by August 2nd. In particular, a number of voices (including U.S. Treasury Secretary Timothy Geithner) are now touting the 14th Amendment as a way to get around the debt ceiling. There are others that believe that Barack Obama should invoke "national security" in order to avoid a default. If the Republicans and the Democrats do not reach a deal by the end of July, things are going to get really, really interesting and there is no telling what Barack Obama may do. (Read More....)
 The U.S. economy is like a rubber band that is being pulled in several different directions at the same time. Everyone knows that at some point it is going to snap, but nobody is quite sure exactly when it is going to happen. Right now, the state of the economy is not good, and it is going to get a whole lot worse. Sadly, most Americans don't even understand the economic fundamentals well enough to be able to ask the right questions to our politicians. Today, the United States consumes far more wealth than it produces every single month. That means we are continually getting poorer. U.S. debt is also rising at a far greater rate than U.S. GDP is. On an individual level, if your assets were going down every single month and if you were going into more debt every single single month it would be easy to understand what was happening. However, most Americans can't really seem to grasp what is taking place on a national level. Our politicians and the mainstream media just keep telling them that everything is going to be okay and they just keep believing it. (Read More....)
 Is the U.S. economy improving? That is what Federal Reserve Chairman Ben Bernanke would have us believe. Bernanke declared today that the "recovery appears to be proceeding at a moderate pace" and that everything is going pretty much as planned. Sadly, the mainstream media and most of the American people still seem to have faith in the economic pronouncements of Helicopter Ben. They seem to have forgotten all of the Bernanke quotes from before the financial crisis. Bernanke pledged that there would not be a housing crash and that there would not be a recession. It is amazing that anyone still believes that Bernanke has any credibility left. (Read More....)
|
|
|
Number One? 20 Not So Good Categories That The United States Leads The World In