Help Us Spread The News By Sharing These Articles With Others:
|
 A long time ago, in an America now far, far away, the majority of the American people owned the land that they live on. The term "my land" actually meant something back then. But today that has fundamentally changed. Now the majority of the American people owe on the land that they live on. In fact, most of them owe big money to the giant corporate banking interests that control the mortgage industry. So how did the American people come to be debtors and paupers in the land that our forefathers conquered? Today when someone says that they "bought a house" what they really mean is that they have signed up for 30 years (or more) of bloated mortgage payments which they care barely afford. As you will see below, the percentage of residential mortgage debt to total home equity (housing net worth) in the United States continues to rise at a staggering pace. In fact, thanks to the housing crash, for the first time in American history residential mortgage debt far surpasses the total home equity owned by all Americans. So what does that mean? It means that the big corporate banks have more of an interest in America's homes than we do now. (Read More....)
 We have reached a very interesting turning point in American history. More than at any other point in modern times, Americans are deeply angry about the state of the economy. In fact, it is no stretch to say that millions of U.S. citizens are hopping mad about the economic situation. Most of them don't know exactly what is wrong, and even fewer of them have any idea about how to go about fixing things, but they do know one thing. They know that they are mad. As Americans, we were raised with the belief that our overwhelmingly powerful economic machine would always provide good jobs and prosperity for all of us as long as we worked hard. But we have come to learn that is not true. We have come to learn that our politicians and our leaders have squandered the great inheritance that our forefathers left for us. We have come to learn that the financial future of our nation is beyond bleak. We have come to learn that our government has piled up the biggest mountain of debt in the history of the world. Now the foolish decisions of the past several decades are catching up with us. The U.S. economy is experiencing structural failure, and the American people are angry. They want answers. They want someone to fix things. They want things to go back to the way they used to be. (Read More....)
 Once upon a time, most of us who live in America were taught that no matter what happens, if you are willing to work hard enough and long enough you can pull yourself up by your bootstraps and be able to live the American Dream. But today that is not reality for millions of Americans. Instead, millions of Americans find themselves working night and day and still not being able to make it. Millions of others have poured their hearts and souls into their jobs and now find themselves out of work and out of luck by no fault of their own. So what do you do when you work as hard as you possibly can and it is just not enough? (Read More....)
 Starting on Monday, the unemployed in the U.S. will no longer be able to apply for federal unemployment benefits or the COBRA health insurance subsidy. This means that millions of Americans that have been unemployed for a long period of time may suddenly find themselves without an unemployment check and without any health coverage. You see, normally state-funded unemployment benefits last for about 26 weeks. After that, federal unemployment benefits kick in. During this recent economic crisis, the U.S. Congress has approved up to an additional 73 weeks of unemployment benefits for unemployed Americans. But now the U.S. Senate has not approved an extension, and so now millions of unemployed Americans that are relying on federal unemployment benefits will stop getting checks once their current federal benefits run out. Millions more will not be able to apply for federal unemployment benefits. (Read More....)
 This is how the U.S. economy works much of the time - the wealthy make most of the big economic mistakes but the hard working middle class ends up paying for them. This time around is no exception. The financial crisis of the past several years was caused by Wall Street, but they got bailed out and relatively few of them lost their jobs. However, even though middle class and working class Americans were not the ones who made the mess, they are paying for it dearly. This is especially true when it comes to unemployment. While it is true that jobs are being lost on every level of American society, the reality is that unemployment is hitting Americans on the lowest end of the income scale the hardest. (Read More....)
|
|
|
The American Economy: The Wealthy Make The Mistakes But The Hard Working Middle Class Pays The Price