The Beginning Of The End
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Money Is A Form Of Social Control And Most Americans Are Debt Slaves

Money Is A Form Of Social Control And Most Americans Are Debt Slaves - Photo by Serge Melki from Indianapolis, USAIs America really “the land of the free”?  Most people think of money as simply a medium of exchange that makes economic transactions more convenient, but the truth is that it is much more than that.  Money is also a form of social control.  Just think about it.  What did you do this morning?  Well, if you are like most Americans, you either got up and went to work (to make money) or to school (to learn the skills that you will need to make money).  We spend a great deal of our lives pursuing the almighty dollar, and there are literally millions of laws, rules and regulations about how we earn our money, about how we spend our money and about how much of our money the government gets to take from us.  Not that money is a bad thing in itself.  Without money, it would be really hard to have a modern society.  Unfortunately, our money is based on debt, and debt levels in the United States have exploded to absolutely unprecedented levels in recent years.  The borrower is the servant of the lender, and if you are like most Americans, nearly every major purchase that you make in your life is going to involve debt.  Do you want to get a college education so that you can get a “good job”?  You are told to get a student loan.  Do you want a car?  You are encouraged to get an auto loan and to stretch out the payments for as long as possible.  Do you want a home?  You are probably going to end up with a big fat mortgage.  And of course I could go on and on and on.  The cold, hard truth of the matter is that most Americans are debt slaves.  Most of us spend our entire lives trapped in an endless cycle of debt that we never escape until we die, and meanwhile our years of hard labor are greatly enriching those that own our debts.

Have you ever found yourself wondering why you can never seem to get ahead financially no matter how hard you work?

Well, it is probably because you have gotten yourself enslaved to debt.

Just consider the following example about credit card debt from a former Goldman Sachs banker

On the debt side of things, how much does your credit card company earn if you carry just an average of a $5,000 credit card balance, paying, say, 22% annual interest rate (compounding monthly) for the next 10 years?

In your mind you owe a balance of only $5,000, which is not a huge amount, especially for someone gainfully employed.  After all, $5,000 is just a quick Disney trip, or a moderately priced ski-trip, or that week in Hawaii.  You think to yourself, “how bad could it be?”

The answer, including the cost of monthly compounding, is $44,235, or about 9 times what it appears to cost you at face value.

But a large percentage of Americans never pay off their credit cards at all.  They make small payments each month, but then they just keep on adding to their balances.

In the end, that is financial suicide.

If you carry an “average balance” on your credit cards each month, and those credit cards have an “average” interest rate, you could end up paying millions of dollars to the credit card companies by the end of your life…

Let’s say you are an average American household, and you carry an average balance of $15,956 in credit card debt.

Also, as an average American household, let’s assume you pay an average current rate of 12.83%.

Finally, let’s assume you carry this average balance for 40 years, between ages 25 and 65.  How much did your credit card company make off of you and your extreme averageness?

Answer: $2,629,618.64

Sadly, approximately 46% of all Americans carry a credit card balance from month to month.

How stupid can we be as a nation?

When you become enslaved to the credit card companies, your toil and sweat makes them much wealthier.  It is a form of slavery that does not require anyone pointing a gun at you.

But we never seem to learn.  Incredibly, 43 percent of all American families spend more than they earn each year.

As the chart below demonstrates, consumer credit actually declined for a short while during the last recession, but now it has turned around and the growth of consumer credit is on the same trajectory as it was before the last economic crisis…

Consumer Debt

Today, the total amount of consumer credit in the United States is 15 times larger than it was 40 years ago.

And every major “milestone” in our lives typically involves even more debt.

-The total amount of student loan debt in the United States recently passed a trillion dollars, and approximately two-thirds of all college students graduate with student loan debt at this point.

-Total home mortgage debt in the United States is now about 5 times larger than it was just 20 years ago, and mortgage debt as a percentage of GDP has more than tripled since 1955.

-Car loans just keep getting longer and longer, and approximately 70 percent of all car purchases in the United States now involve an auto loan.

-Want to get married?  That average cost of a wedding is now $26,989 which is probably going to mean even more debt unless you have wealthy parents.

-Do you have a serious medical problem?  According to a report published in The American Journal of Medicine, medical bills are a major factor in more than 60 percent of the personal bankruptcies in the United States.

Are you starting to understand why approximately half of all Americans die broke?

And I have not even begun to talk about our collective debts yet.

Government debt is a collective form of debt.  You may not have voted for any of the politicians that have been racking up debt in your name, but part of it still belongs to you.

Since the year 2000, state and local government debt has more than doubled.  These are collective debts for which we are all responsible…

State And Local Government Debt

And of course the biggest collective debt of all is the U.S. national debt.

In a previous article, I discussed how the national debt has exploded out of control in recent years.  If you can believe it, the U.S. debt to GDP ratio has increased from 66.6 percent to 103 percent since 2007, and the U.S. government accumulated more new debt during Barack Obama’s first term than it did under the first 42 U.S. presidents combined.

When you break things down by household, the numbers look even more frightening.

During Barack Obama’s first four years in the White House, the amount of new debt accumulated by the federal government breaks down to approximately $50,521 for every single household in the United States.

And as I have mentioned previously, if you started paying off just the new debt that the federal government has accumulated during the Obama administration at the rate of one dollar per second, it would take more than 184,000 years to pay it off.

Well, you might argue, none of that debt will ever be paid off in our lifetimes.

And you would be right.

But what we are doing is consigning our children, our grandchildren and all future generations of Americans to a lifetime of debt slavery.

How nice of us, eh?

Over the past 10 years, the U.S. national debt has grown by an average of 9.3 percent per year, but the overall U.S. economy has only grown by an average of just 1.8 percent per year.

How do we expect to continue doing this?

Fortunately, more Americans are starting to wake up to how foolish all of this is.

For example, the following is what Home Depot Founder Kenneth Langone told CNBC on Tuesday…

“The fundamentals haven’t changed … And we don’t know when the storm is going to hit,” he predicted. “It has to happen.If you look at our debt to GDP, eventually you reach a point where there’s no turning back.”

He used an analogy to make his point. “If you had one meal left, and you had your grandchild with you, would you eat if or give it to your grandchild?”

He said all people would say “give it to my grandchild.”

But pursuing the president’s vision, he argued, “[Is] eating the grandchildren’s breakfast, lunch and dinner right now. And the [grandchildren] haven’t been born yet.”

What we are doing to our children and our grandchildren is beyond criminal.  We are selling away their futures in order to make our lives more pleasant.

Right now, we are stealing more than 100 million dollars from our children and our grandchildren every single hour of every single day.

So where is the outrage over this theft?

Sadly, most Americans don’t even realize that all of this is by design.  When the Federal Reserve system was created back in 1913, it was designed to get the U.S. government trapped in an endless spiral of debt.

And it worked.  Today, the U.S. national debt is now more than 5000 times larger than it was when the Federal Reserve was first created.

Our society has become addicted to debt, and that means that we have become addicted to slavery.

We are not the “land of the free”.  The truth is that we are now the “land of the servants”.

Over the past 40 years, the total amount of debt owed in the United States (government, business, consumer, etc.) has grown from less than 2 trillion dollars to more than 55 trillion dollars

Total Credit Market Debt Owed

So who benefits from all of this?

I talked about this in a previous article.  The ultra-wealthy and the international bankers make enormous profits by lending money to all the rest of us.

According to a stunning report that was released last summer, the global elite have up to 32 trillion dollars stashed away in offshore tax havens around the globe.

How did they get so much money?

The borrower is the servant of the lender.  They have gotten rich at our expense.

But most people live their entire lives without ever understanding how the game is being played.

Today, most Americans see that the Dow is back above 14,000 and they hear the mainstream media telling them that happy days are here again and so they just believe that things are going to turn out okay somehow.

And it certainly does not help that most people seem to let others do their thinking for them.  In fact, about 23% of all Americans can’t even read at this point.

So is there any hope for us?

Please feel free to post a comment with your opinion below…

Money - Photo by selbstfotografiert

Americans Are Literally Being Worked To Death

Are you constantly tired and do you feel incredibly stressed almost all the time?  Well, that means that there is a really good chance that you are a typical American worker.  Even though our incomes are going down, Americans are spending more time at work than ever before.  In fact, U.S. workers spend more time at work than anyone else in the world.  But it was not always this way.  Back in 1970, the average work week for an American worker was about 35 hours.  Today, it is up to 46 hours.  But there are other major economies around the globe that are doing just fine without burning their workers out.  For example, the average American worker spends 378 more hours working per year than the average German worker does.  Sadly, for many Americans work is not even finished once they leave the office.  According to one recent survey, the average American worker spends an extra seven hours per week on work tasks such as checking emails and answering phone calls after normal work hours have finished.  Other Americans are juggling two or three jobs in a desperate attempt to make ends meet.  Americans are busier than ever and work is often pushing the other areas of our lives on to the back burner.  What this also means is that “family vacations” are becoming increasingly rare in the United States.  In fact, Americans spend less days on vacation than anyone else in the industrialized world.  While some would applaud our “work ethic”, the truth is that the fact that we are being overworked is having some very serious consequences.  In fact, as you will see below, Americans are literally being worked to death.

The following is an excerpt from a comment that one reader posted on one of my recent articles.  Can you identify with what this family is going through?….

I always try and remember to be thankful and say prayers of gratitude for the blessings I have, however I can tell you that my wife and I are getting more and more exhausted.

Straight forward payroll taxes nailed us for $35k last year and the dozens of other taxes are often over-looked but also hitting us harder and harder.

My wife works 14 hour shifts at her dialysis clinic 3 days a week and every other weekend. On the Tuesdays and thursdays she has off she ends up resting half the day to give her poor feet a break since a nurse on her feet 14 straight hours of continual busyness is exhausting.

On top of that, her company has had a pay freeze for 3 years, has dropped Holidays down to just 2 per year ( Thanksgiving and Christmas of which she must work 1 of them), has canceled the reimbursement of her CEU’s ( medical professionals are required to continue to take schooling and classes for their entire career in order to renew their licenses) –also they no longer match 401k’s and her company health plan just bumped up $30 per week!!

I put in so many hours at times that when I get home I am too tired to eat. I come home, change clothes/shower and go straight to bed–this is not living. I try and keep up with my volunteer work and rounds at our local nursing home but something is going to have to give. My caseloads are growing and growing and people are making appts 2-3 weeks in advance. I never had a schedule so filled in advance before. I usually have more long-term pt’s with needs of stroke, Parkinson’s, traumatic brain injuries..but now ortho pt’s are scheduling surgeries as to when I’ll have slots for hip replacement and knee replacement rehab time.

I’m ground down and in the mean time everything is getting more expensive, they keep taking more of my money I earn and we are having all of our benefits cut or completely stopped.

All over this country, millions of hard working men and women are slowly being worn down by jobs that are sucking the life out of them.  Working way too many hours for an extended period of time can have dramatic consequences for your health, your family and just about every other area of your life.

But for some Americans, there is simply no other choice.  There are millions upon millions of Americans that live on the edge of financial disaster these days.  According to one recent survey, 77 percent of all Americans live paycheck to paycheck at least some of the time, and the middle class in the United States has been shrinking at a very steady pace in recent years.

Many Americans are not working 60 or 70 hours per week because they want to.

Many are doing it because that is what they must do just to survive.

For example, a recent article posted on Economy In Crisis profiled a mother of four up in Michigan named Lisa Bosworth who can’t make ends meet for her family despite working three jobs….

Bosworth remarried but her current husband, Ray, was forced onto medical disability when a prescription medication caused health problems. The couple, who had a fourth child together, struggle to support their family on Lisa’s meager income.

Bosworth’s gross monthly income from working as a classroom aide in Reeths-Puffer schools and doing two Chronicle newspaper routes is $1,900. That amounts to $22,800 annually, nearly $5,000 below the poverty level for a family of six.

When they run out of money near the end of each month, Lisa and Ray Bosworth line up at one of several food trucks that visit Muskegon each month.

Earlier this month, the couple and three of their children waited in line at a food truck at Calvin Christian Reformed Church in Norton Shores. Lisa Bosworth had just finished her two newspaper routes and was clearly fatigued after another 70-hour work week. “I’m tired,” she said.

Today, there are more than 100 million Americans on welfare, and a significant percentage of those people actually do have jobs.  In fact, some are working two or three jobs.

Working class Americans are working harder than ever, but at the same time many of them are making less money than they once did.

This is putting an incredible amount of stress on working class families.

In fact, it appears that a lot of Americans are literally working themselves to death.

And as a recent CBS News article described, this is particularly true for poor Americans that do not have much education….

Overall life expectancy has dropped for white Americans who have less than a high school diploma to rates similar to those of the 1950s and 1960s, new research finds.

The study found non-Hispanic white men without a diploma lived on average until 67.5 in 2008, three years less than they did in 1990. The drop in lifespan was even bigger for non-Hispanic white women with low education: They live five years shorter than 1990 rates, from 78 years old to just 73.5.

This is a sign that our society is going backwards.  Working class Americans are actually living significantly shorter lives than they used to.

Of course the garbage that passes for “food” these days certainly is not helping matters any, but that is a topic for another article.

Sadly, those that are working themselves to death consider themselves to be the “lucky ones” in our society today.

There are countless millions of other Americans that are sitting at home right now without a job.

The mainstream media is trying to convince us that the unemployment rate has been falling, but that is a lie.  If the labor force participation rate was the same today as it was back when Barack Obama first took office, the unemployment rate in the United States would be 11.2 percent right now.

But that doesn’t sound nearly as good as 8.1 percent sounds, right?

And the percentage of working age Americans with a job is actually lower today than when the last recession supposedly ended.

In this economic environment, most people are scared to death of losing the jobs that they currently have because they don’t know if they will be able to get another one.

During the month of August, the unemployment rate actually increased in 26 different U.S. states, and yet we are supposedly in the midst of “an economic recovery”.

But the truth is that we are not better off than we were back during the last recession.  In fact, there are a whole host of statistics that indicate that things are getting worse.

Unfortunately, much of the time people tend to forget that the horrible economic numbers that we are seeing have very substantial real life consequences.

People that cannot find work and people that work very long hours for a very long period of time tend to be much more depressed than the population as a whole.

And depression can often lead to suicide.  According to a recent Daily Mail article, more Americans now die from suicide than from car accidents….

Suicide is the cause of more deaths than car crashes, according to an alarming new study.

The number of people who commit suicide in the U.S. has drastically increased while deaths from car accidents have dropped, making suicide the leading cause of injury death.

Suicides via falls or poisoning have risen significantly and experts fear that there could be many more unaccounted for, particularly in cases of overdose.

That is incredibly tragic, because there is never a reason for anyone to commit suicide.  One of the things that I have learned in my own life is that there is always a way for things to be turned around.

Yes, life can be very hard when you don’t have much money, but our lives should not be about chasing material things anyway.  Our lives should be about so much more than that.

If you are currently feeling overly tired and overly stressed because you have been working too much, I encourage you to take a vacation.

We are only given one life to live.  We shouldn’t spend it working ourselves to death.

So what do you think about all of this?  Please feel free to post a comment with your thoughts below….

The Sobering Reality Of What Life Is Like In Reno, Nevada

What do you do when the city where you live is dying?  All over the United States formerly great cities are crumbling, but some are definitely in worse shape than others.  One reader recently wrote to me about what she sees happening all around her in Reno, Nevada.  The unemployment rate in Reno is now up to 11.7 percent, which is well above the national average of 8.3 percent.  But that doesn’t tell the whole story.  The recent recession hit Nevada particularly hard and people have been moving out of the state in waves.  In fact, the labor force in Nevada has shrunk by close to 20 percent over the past year as workers have moved elsewhere in search of work.  But even though the labor force is now nearly 20 percent smaller, the unemployment rate is still well above 11 percent.  There simply are not enough jobs in large Nevada cities such as Reno and Las Vegas.  Unfortunately for Reno, it does not have the same kind of big corporate money pouring into it that Las Vegas does.  The good news is that you can buy a house very, very cheaply in Reno because homes were foreclosed on in droves during the housing crash.  Even today, some housing developments that were put up near the end of the boom times look like virtual ghost towns.  The main industry in Reno is “entertainment”, but many of Reno’s strip clubs and gambling establishments have aged so badly at this point that they just look kind of depressing.  I guess that is kind of fitting, because Nevada has the fifth highest suicide rate in the nation, and Reno has been ranked as one of the top 10 depressed cities in the entire country.  As the city has declined, gangs have moved in and the drug trade is flourishing.  Reno has been called the meth capital of America, and crime is on the rise.  Despite being surrounded by tremendous natural beauty, Reno has become a very unpleasant place in which to live.  But what is happening in Reno is also happening in hundreds of other communities across the United States.  Our economy is collapsing and our cities are crumbling right in front of our eyes, and it is only going to get worse from here.

A reader of my site named Heather who has been unemployed since November of last year recently shared the following with me….

I am living in Reno/Sparks Nevada and I feel like it is ground zero for collapse. There are a lot of people who are in denial right now and cannot see the larger picture. I keep also saying we are the canary in the coal mine for the rest of the country.  It is quite depressing driving around seeing empty office buildings with vacancies and retail areas just empty. Went to the stores and retail seems pretty slow also. I am volunteering at ProNet locally and it helps unemployed people finds jobs and skills. It has been depressing there too with very little jobs out there for many people who need one.

She said that I should share what is happening in Reno with my readers.  She wanted people to know what those living in Reno are going through.

You might think that since Reno is so sunny, so warm and surrounded by such natural beauty that it would be one of the happiest places in America.

Unfortunately it turns out that the opposite is true.

Reno is actually a very sad place.

In fact, last year Men’s Health ranked Reno as the ninth saddest city in the United States.

In response to this ranking, one resident of Reno wrote the following….

In light of this disheartening list-making, it is, of course, important for Nevadans to look on the bright side. Rather than allowing these statistics to depress us further, we can consider them a series of challenges that make living in places like Reno and Las Vegas all the more impressive. You don’t just live in Reno. You survive Reno! To dwell in Reno, you must triumph over the odds that are stacked against you—one of the things we’re supposed to do best here.

If we can withstand all of the emotional curveballs thrown at us because we have selected such a turbulent location in which to reside, we can probably survive anything.

As a lifelong Renoite, I am inclined to respond to these lists with defiance. Yeah, things can look pretty grim sometimes when no one can find a job, and there seems to be no way out.

And that is how many Americans are feeling these days.  They are broke, unemployed, depressed and out of options.

How can you pick up and start a new life somewhere else when you have no job and no money?

Sadly, a lot of younger Americans are turning to drugs in an attempt to escape the pain of their daily lives.

One article that I found attempted to find humor in the raging meth epidemic that is happening in Reno….

Reno has been affectionately called the meth capital of the nation. Some foolishly think mass drug usage can ravage a city as swiftly as it can ruin a user’s clear complexion. In all reality, drug addiction is no more than an endearing quirk, certainly not a cause for concern. Babies and adolescents with addiction-addled parents should stop being coddled and learn how to take care of themselves. I’ve been doing my own laundry since I was six months old­ — I’m sure they can do the same. If there is anything disturbing about the meth problem in Reno, it’s that it shows the lack of variety in this town. Why don’t you try some uppers like MDMA? Your teeth will thank me.

Unfortunately, Reno is far from alone.  In the past I have written about how formerly great cities such as Detroit, Cleveland and Baltimore are completely falling apart as well.  This kind of thing is literally happening from coast to coast.

There is a very serious lack of decent jobs in America right now.  At this point only 24.6 percent of all jobs in the United States are good jobs.

This has made it increasingly difficult for Americans to be able to take care of themselves.

If you can believe it, more than 100 million Americans are on welfare at this point.

And that number does not even include the tens of millions of people that are on Social Security and Medicare.

What in the world has happened to us?

These days most Americans work really hard all of their lives but never end up reaching their dreams.

In fact, one recent study found that 46 percent of all Americans die with less than $10,000 worth of financial assets.

Talk about depressing.

But instead of having us focus on how bad the economic numbers are, the Federal Reserve wants to start measuring how “happy” everyone is.  The following is from a recent ABC News article….

Ben Bernanke wants to know if you are happy.

The Federal Reserve chairman said Monday that gauging happiness can be as important for measuring economic progress as determining whether inflation is low or unemployment high. Economics isn’t just about money and material benefits, Bernanke said. It is also about understanding and promoting “the enhancement of well-being.”

So what would you say if the Federal Reserve contacted you and asked if you are happy?

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

The Working Poor

As the middle class in America continues to be slowly wiped out, the number of working poor continues to increase. Today, nearly one out of every three families in the United States is considered to be “low income”. Millions of American families are finding that they can barely make it from month to month even with both parents working as hard as they possibly can. Blue collar American workers from coast to coast are having their wages decreased at a time when it seems like the cost of virtually every monthly bill is going up. Unfortunately, there is every indication that things are only going to get worse and that average American families are going to be financially squeezed even more in the months and years to come.

The Working Poor Families Project has just released their policy brief for the winter of 2010-11. What they have discovered is that the number of working poor in the United States is higher than they have ever seen it before and it continues to increase at a staggering pace. The following are some of the key findings for 2009 that were pulled right out of their report….

* There were more than 10 million low-income working families in the United States, an increase of nearly a quarter million from the previous year.

* Forty-five million people, including 22 million children, lived in low-income working families, an increase of 1.7 million people from 2008.

* Forty-three percent of working families with at least one minority parent were low income, nearly twice the proportion of white working families (22 percent).

* Income inequality continued to grow with the richest 20 percent of working families taking home 47 percent of all income and earning 10 times that of low-income working families.

* More than half of the U.S. labor force (55 percent) has “suffered a spell of unemployment, a cut in pay, a reduction in hours or have become involuntary part-time workers” since the recession began in December 2007.

Unfortunately, things are not going to be getting any better for the working poor.  In the new “one world economy” that our politicians keep insisting is so good for us, millions upon millions of American workers now find that they have to compete for work with laborers on the other side of the globe that are willing to work for slave labor wages.  This is causing millions of jobs to leave the United States and it is forcing wages down.

Millions of Americans now find that they are making substantially less than they used to.  If that has happened to you, perhaps you can take comfort in the fact that you are not alone.  Or perhaps it is not that comforting.  In any event, American workers are not just competing with each other anymore.  Now there is the constant threat that all the jobs could just be sent overseas.

As wages are forced down, a record number of working Americans are finding themselves forced to turn to food stamps and to other government anti-poverty programs.  Millions of Americans have been forced to take part-time jobs in order to supplement their incomes.  Millions of others have been forced to take part-time jobs because that is all they can find.

This is all part of a long-term trend.  The numbers don’t lie.  About the only people doing well are those on Wall Street and the very rich.  Nearly every other segment of the population is getting poorer.

The following are 10 statistics that I have shared previously, but I think that they do a really good job of highlighting the plight that the working poor in this country are now facing….

#1 In 2009, total wages, median wages, and average wages all declined in the United States.

#2 Since the year 2000, we have lost 10% of our middle class jobs.  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.  Meanwhile, our population is getting larger.

#3 As 2007 began, only 26 million Americans were on food stamps, but now 42 million Americans are on food stamps and that number keeps rising every single month.

#4 Since 2001, over 42,000 U.S. factories have closed down for good.

#5 One out of every six Americans is now enrolled in at least one anti-poverty program run by the federal government.

#6 Half of all American workers now earn $505 or less per week.

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

#8 Ten years ago, the United States was ranked number one in average wealth per adult.  In 2010, the United States has fallen to seventh.

#9 In 1976, the top 1 percent of earners in the United States took in 8.9 percent of all income.  By 2007, that number had risen to 23.5 percent.

#10 According to one recent study, approximately 21 percent of all children in the United States are living below the poverty line in 2010.

The United States is becoming poorer as a nation even as the boys up on Wall Street are busy grabbing a bigger share for themselves.

We are rapidly becoming a nation that will have a very small privileged class of ultra-wealthy and a very large class of “workers” that is just barely trying to survive.

So is the answer even more government handouts and even more government social programs?

Of course not.

What middle class Americans need are middle class jobs.

But as I have written about previously, the United States is rapidly bleeding middle class jobs with no end in sight.

Globalism has permanently changed the game.  The middle class way of life that so many millions of Americans have been enjoying for so many decades is disappearing.

Just because things were a certain way yesterday does not mean that things are going to be the same way tomorrow.  The long-term economic trends that this column keeps talking about day after day after day are taking us all to a very dark economic place.

But instead of facing reality, our federal government, our state governments and our local governments just keep borrowing massive amounts of dollars to try to paper over all of our problems.

It is not going to work.  Unless something is done to fix our structural economic problems, the economic decay is just going to get worse and all of this debt is eventually going to collapse our entire financial system.

If you are a member of the working poor I wish I had better news for you.  Things are not going to be getting better, and unfortunately millions more Americans will probably be joining you soon.

The Declining Value Of Work

One of the great joys that men in free societies have long enjoyed is the ability to earn an honest wage for an honest day of work.  In particular, the amazing capitalist engine that powered the U.S. economy for decade after decade greatly rewarded the incredible hard work and industriousness of the American people.  America was known as the land of opportunity, and we built the largest middle class in the history of the world by working incredibly hard.  But today, all of that is fundamentally changing.  Thanks to rapid advances in technology, and thanks to the globalization of the work force, the labor of American workers is rapidly losing value.  Automation, robotics and computers have made many jobs obsolete.  Today one man can do the work that a hundred men used to do.  Not only that, but today American workers literally have to compete against workers from all over the globe.  Global corporations often find themselves having to choose whether to build a factory in the United States or in the third world.  But in the third world workers often earn less than 10% of what American workers earn, corporations are often not required to provide any benefits to workers, and there are usually hardly any oppressive government regulations.  How can American workers compete against that?

The truth is that labor is now a global commodity.  How can an American worker compete against a desperate, half-starving worker in the third world that will work like mad for a dollar an hour?

But this is what we get for letting the politicians push “free trade” down our throats.

Most American workers had no idea that free trade would mean that they would suddenly be competing for jobs against workers in the Philippines and Malaysia.

But that is the cold, hard reality of globalism.

All of this free trade has been very hard on American workers as factory after factory has closed, but it has allowed the big corporations to get exceedingly wealthy.

The top executives at the big global corporations are certainly enjoying all of this free trade.  Their salaries have soared.

In 1950, the ratio of the average executive’s paycheck to the average worker’s paycheck was about 30 to 1.  Since the year 2000, that ratio has ranged between 300 to 500 to one.

The rich are getting richer and the poor are getting poorer.

That is what globalism is all about.

The elite make out like bandits as they exploit third world labor pools, while the American middle class finds itself slowly being crushed out of existence.

According to the United Nations Gini Coefficient (which measures distribution of income), the United States has the highest level of inequality of all of the highly industrialized nations.

Increasingly, all of the rewards are going to those at the top, while the vast majority of Americans are left wondering why things just don’t seem to work out for them.

According to economists Thomas Piketty and Emmanuel Saez, two-thirds of income increases between 2002 and 2007 went to the wealthiest 1% of Americans.

Life is good if you are in the top one percent.

Unfortunately, that does not include any of us.

Instead, the American middle class is gradually being pushed into lower paying service jobs.  But it is really hard to feed a family by cutting hair or by greeting the folks who come walking into the local Wal-Mart.

If you talk to many Americans, they just can’t seem to figure out why they can’t make things work out even though they are working as hard as they can.  Millions of Americans have found themselves taking on second (and in many cases third) jobs in an attempt to provide for their families.

But what they don’t understand is that the global elite have turned labor into a globalized commodity.

American workers are not faced with a level playing field.  Just check out some of the pay levels around the world that American workers must compete against….

In Bangladesh, a garment worker makes 22 cents an hour. The wage in Cambodia is 33 cents an hour; in Pakistan, 37 cents an hour; in Vietnam, 38 cents; in Sri Lanka, 43 cents; Indonesia, 44 cents; India, 55 cents; China, 86 cents; the Philippines, $1.07; and Malaysia, $1.18.

Do any of you want to work for $1.18 an hour with no benefits?

But that is your competition.

Wages are being driven down and big global corporations are loving it.

This isn’t capitalism.

This is the global elite pushing us into a cruel system of economic slavery where they control all of the wealth and the rest of us struggle to survive as we work our tails off for them.

Already we are seeing large numbers of Americans becoming absolutely desperate to get even a low paying job.

For example, over one three day period, approximately 10,000 people showed up to apply for 90 jobs making washing machines in Kentucky for $27,000 a year.

Can your family live on $27,000 a year?

But that is considered a good wage now.

Actually, the folks who are making really good wages now are those who work for the U.S. government.

Yes, life is good if you are a servant of the system.

Today, the average federal worker now earns about twice as much as the average worker in the private sector.

Of course government employees basically produce next to nothing except red tape.

The U.S. government doesn’t seem to care if they are productive or not.  They just keep borrowing more money and getting us into even more financial trouble.

But at least there is somewhere for middle class families to get decent jobs.

In fact, it is getting really hard to live a middle class lifestyle in America without relying on the government in some way.

The truth is that good jobs are becoming increasingly scarce.

That is why it is absolutely imperative for all of us to try to become as independent as possible.

That means getting out of debt.

That means starting our own businesses.

That means learning how to grow a garden.

Many of those who continue to blindly rely on the system to provide them with a “job” (“just over broke”) will end up bitterly disappointed in the end.

Millions of Americans have already lost their jobs and millions more Americans will lose their jobs as we move along through the next few years.

In fact, with all of the amazing advances in technology that we have seen over the past couple of decades, the global elite are starting to realize that they really don’t need 6 billion workers after all.

Instead, those among the global elite are increasingly viewing all of us as a burden.  They openly ask why they should have to take care of so many “useless eaters”.  After all, if the system does not need all of us to keep functioning, then what good are we to them?

So these days you are starting to hear a lot about the dangers of “overpopulation” and the need to control population growth.

In fact, just over one year ago Bill Gates, David Rockefeller, Warren Buffett, George Soros, Michael Bloomberg, Ted Turner, Oprah Winfrey and other very wealthy power brokers held a clandestine meeting in New York.

So what was the topic?

Population control.

One anonymous attendee of the meeting was quoted in a U.K. newspaper as saying that overpopulation “is something so nightmarish that everyone in this group agreed it needs big-brain answers.”

Are you starting to get the idea?

Instead of being viewed as valuable workers, now we are being viewed by the elite as pests that have multiplied to the point where we are now out of control.

What a strange world we live in now.

We need to get back to the America where good workers are valued and where hard work is rewarded.

We need to get back to the America where having a large middle class is an important national goal.

We need to get back to the America where we build American businesses, where we hire American workers and where we buy American products.

But unless the American people wake up, American workers are going to continue to be devalued.

Are we actually going to sit back and let American living standards decline to third world standards?

It is up to this generation to reject globalism and to reclaim the great free enterprise principles that this nation was founded on.

If someday our children and grandchildren exist in a world where they are considered just another part of the third world labor pool they will know who to blame.

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