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The State Of The Economy

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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.

These days our leaders are resorting to increasingly desperate measures in order to help revive the economy.  On Thursday, Barack Obama decided to release 30 million barrels of oil from the U.S. strategic oil reserve.

Yes, that will drive down oil prices for a few days, but what is going to happen someday if we actually need to use that strategic oil reserve?

But in many ways you can’t blame Obama for trying.  He desperately wants to get reelected and he knows that his campaign will be highly dependent on the state of the economy.  Look for Obama to pull out all the stops as we get closer to the fall of 2012.

Sadly, the truth is that it almost does not matter what the Democrats or the Republicans do at this point.  The long-term trends are so powerful now that it would take a miracle to reverse them. We are facing an “economic tsunami” that is just going to keep on destroying middle class America.

If you went to a store today, and there were two somewhat similar products sitting on the shelf and one cost ten times more than the other one, which one would you buy?

Well, that is the situation facing American workers today.  They have been pushed into one giant globalized labor pool, but big corporations are allowed to pay workers on the other side of the globe slave labor wages.  It costs ten times more (at least) to hire a blue collar American worker than it does to hire a blue collar worker in most areas of Asia.

As a result of the globalization of labor, we have seen a mass exodus of jobs out of the United States, and wages for many of the jobs that remain have been significantly depressed.

There simply are not nearly enough jobs for all Americans at this point.

Recent college grads are finding this out.  A new study that was conducted by Rutgers University discovered that over 30 percent of all those that graduated from college between 2006 and 2010 were not able to get a job within six months of graduation.

But unemployment is only part of the story.  There are millions upon millions of Americans that are “underemployed” today.

There are hordes of highly educated, hard working Americans that are working temporary or part-time jobs at close to minimum wage because that is all they can get.

With good jobs being so scarce, American families are finding it more difficult than ever to make ends meet.

One recent survey found that 9 out of 10 U.S. workers do not expect their wages to keep up with the rising cost of basics such as food and gasoline over the next year.

I talked about the rising cost of food in my recent article entitled “Why Are Food Prices Rising So Fast?”  Today, one out of every seven Americans is already on food stamps, and if the cost of living keeps rising this quickly we are going to see millions more of our fellow citizens clamoring for government assistance.

The decline of the American consumer is having other effects as well.

For example, pre-orders for Christmas toys from China are way down.

It looks like this holiday season is not going to be as “merry” as usual.

It would be nice if we could say that the economy is improving, but that simply is not the case.

American households are in a far different place than they were prior to the recent recession.

For example, did you know that home values in the United States have plummeted $6.6 trillion since the peak back in 2007?

U.S. homeowners have taken the brunt of that decline.  According to the Federal Reserve, average home equity has fallen from 61 percent in 2001 to 38 percent in the first quarter of 2011.

That is a colossal shift.

If U.S. homeowners only own 38 percent of their homes, then who owns the rest?

The banks do.

Doesn’t that just make you feel all warm and fuzzy inside?

Health care is another area where American families are getting squeezed.

Today, the United States spends more on health care per person than any other country in the world.

Sadly, we are also one of the sickest populations on the planet.

What is up with that?

Once upon a time the United States had a middle class that was the envy of the entire globe.

Now it is being ripped to shreds at every turn.

Today, approximately half of all Americans say that they could not come up with $2,000 within 30 days without selling away some possessions.

The vast majority of us are basically flat broke and surviving from month to month.

Meanwhile, our vaunted financial system just may be on the verge of another meltdown.

There has been all sorts of volatility in the marketplace recently and there are all kinds of signs that Wall Street is about to go into panic mode.

For example, Moody’s recently warned that it may downgrade the debt ratings of Bank of America, Citigroup and Wells Fargo.

Barclays Capital, Goldman Sachs, Bank of America, JPMorgan Chase and Morgan Stanley are all either already laying workers off or are rumored to be considering it.

Frank Davis, director of sales and trading with LEK Securities, says that there is a lot of pessimism on Wall Street right now….

“There’s a lot of emotion in this market at the moment, and the conversations among traders are nearly all leaning toward the bear side”

As the financial system spins out of control, the Federal Reserve is increasing the number of workers that it is “embedding” at the big Wall Street banks.

I guess the Fed wants to keep a closer eye on things as they come crashing down.

Sadly, so much of this would be much easier to fix if our nation was not drowning in debt.

Since Barack Obama was elected, the national debt has increased by nearly 4 trillion dollars. If you and I went out today and started repaying that 4 trillion dollars at a rate of one dollar per second, it would take over 120,000 years to do it.

Most Americans have a hard time comprehending these kinds of numbers. Janet Tavakoli tried to put our debt situation into perspective in her latest column….

David Walker, the former U.S. comptroller general, says it’s even worse than that. When he takes into account future obligations for Medicare, Social Security, Federal debt, Military retirement, Civil servant retirement, and more, we owe $546,663 per household. That doesn’t even include your local debt — it may not be as bad as if you lived in Illinois, but it’s substantial nonetheless — and personal debt including mortgages and consumer debt that average more than $120,000 per household.

But you don’t have to toss wild numbers around to get an idea of how much trouble we are in.

As I have written about recently, there is increasing evidence all around us that the collapse of society is accelerating.  We are seeing disturbing reports of civil unrest pop up all over the U.S. at an alarming rate.

According to a CBS affiliate in Chicago, earlier this week approximately 50 young people conducted a shocking mob robbery of a drug store located on the Magnificent Mile in Chicago….

Some 50 young people barged into a Walgreens at Michigan and Chicago on the Magnificent Mile on Tuesday afternoon. They took bottled drinks and sandwiches off the shelves, then ran off, CBS 2′s Suzanne Le Mignot reports.

When large groups of young people get together and agree to commit crimes that should be a huge red flag for all of us.

We are a nation that is deeply, deeply divided.  Hatred is growing and the love of most Americans is growing cold.

As I have written about previously on “The American Dream“, the American people are actually encouraged to hate one another these days….

The truth is that the “establishment” is constantly trying to divide us and get us fighting with one another.  They pit the Republicans against the Democrats (even as though control both sides).  They pit one race against another.  They pit one gender against another.  We are told that the rich are against the poor, the north is against the south, urban is against rural and that there are even “generational battles” going on.  Frustration and hate are rapidly growing in the United States today, and a lot of that frustration and hate is unfortunately aimed at the targets that the mainstream media has programmed all of us to hate.  Meanwhile, those at the top of the pyramid who are controlling the whole game love it when we are divided because we can never become united and challenge their control.

We need to come together as a nation.  If we don’t, we are going to face an unprecedented nightmare when the economy collapses.

So what do you think about the state of the economy?  Please feel free to leave a comment with your opinion below….

  • Bruce Jonathan Fick

    What do I think about the state of the economy ?
    I think the worst thing the Government can do is
    to allow the Fed to continue their Monopoly over
    it. 6 years into carrying a national debt, JFK
    restored the Treasury to its Constitutional role. That lasted 6 months until they Murdered
    him for it. After 48 years of sliding down the
    slipery slope of debt spiral, it will be much
    more difficult to do that again. But it has to be done. Americans have been living beyond their
    means by consuming more than they produce, and
    then borrowing counterfeited money with nothing
    to back it to keep this vicious cycle going. It
    only stops when Congress repeals the Federal Reserve Act, and U.S. Notes prevail again. Only
    a Bankster would tell you currency is money. And
    money can be created out of debt. 0-0=0.

  • wobbly-1

    What is amazing is that the average person seems to be oblivious to what is happening around them. They are focused on such nonsense as sitcoms, american idol, dancing with the stars, etc. Most people I talk to say “well gas is up” or “man groceries cost a lot lately” but don’t see the crisis that is looming. As long as their cable is still on, the iphone still connects, and the credit card still rings up then their little world is still intact.

    The crash, when it comes, will be very very painful for these folks….and unfortunately they will become part of the problem as we try to survive.

    • People in fear and panic mode cannot be reasoned with. They will be the first to go postal and believe that we owe them whatever we have.

      • muddsbks1

        We “OWE them what ever we have”? As in just roll over and let them have it/take it. “It” being the things we have worked to acquire: food, medical supplies, some cash, precious metals. I have also worked to live debt free, and I don’t intend to give some puke perp “whatever they want”. I have been giving them “whatever they want” for the last 37 years of my adult life through the redistribution of my wealth via federal and state taxes. I’ll be damned if I’m now going to give them “whatever they want” because they think I “owe” them. Perhaps they will think you “owe” them your child, your spouse, etc., are you going to give that up as well. Maybe they think you “owe” them sex acts while other family members watch, will you “give” them that? You’re a coward and a fool if you “give them what they want”. And your spineless response will only embolden “them” to take more from you and your neighbors.

    • Brandy

      You are right I agree totally!! What advice would you give to those people?

  • Colin

    One yin-yang dynamic that you didn’t mention is one that I am experiencing personally. The media teaches that people like me, who lack friends and are not successful, are losers and should be ostracized. I even saw an article in Time Magazine where the author literally used this word. Years ago, I failed to land a job because I couldn’t list friends as a reference.

    I have been diagnosed as having agoraphobia – the fear of social situations – and that I suffer debilitating anxiety when I am outside the house. I may have also have elements of Asperger’s Syndrome. I need medications for me to be functional in society. How can I be functional in society if I can’t get a job, which would pay for the medications, and I am ostracized for not living up to what the media portrays as the successful person?

    It’s not helpful for my case in how the media portrays mental disabled people. There have been very few positive depictions of people who are mentally disabled. We are treated by the media and, by extension, the government as disposable people.

    • Brandy

      My good friend Sam has Aspergers so I kinda understand what you are saying. You are NOT! a loser. Put your faith in Jesus Christ because he is going to see you through this, you are no different then me or any other person we are all suffering from not having a job and not being able to buy medicine we need and futher more a lot of people don’t have many friends either sadly. So keep your chin up and your eyes on the Cross because you are gonna survive just like the rest of us. You are equal not less. God Bless You

  • Gary2

    GOP= Greed Over People

  • Ben Dover

    The gubmint as currently configured will not reform. All of it must be dissolved at least down to city council level. Anyone in any gubmint job must be removed. The USA will break into pieces that go their separate ways and cooperate when their interests align.

  • Gary2

    the economy has never recovered from the recession at least for us former middle class.

    I was duped by Obama with all the hope and change shit. Its just that repubes are so much worse.

    Is it on purpose that we have such shitty choices for politicians.

    Does anyone really think the likes of Paul Ryan, pelenty/romney/palin give 2 shits about regular people? that they are capable of solving anything? They could probably not manage a Starbucks.

    Welfare queen bachmann? How can these dolts even be taken seriously?

    Anyway you shake it they all suck but the dems suck less, much less.

    • Ben Dover

      I cannot see how Demicans suck less than Republicrats.

      I have heard stories about Bachman’s family raking in gubmint subsidies while she rails against the same gubmint subsidies. That said, I would prefer sleazy pics of her to any pics of meeshall.

      • Gary2

        Ok you got me on that one. Bill Maher says Bachmann is a **********!

  • Wobbly-1 is spot on… Buckle up ’cause Kansas is goin’ Buh bye!!!

  • mark

    This economy will not really improve untill we work this debt down which will take some years. The party is almost over and the hangover is coming. In the past countries have started wars to mask over their problems. I hope the world doesn’t go that way. We have too many small ones now and we sure don’t need a big one. Things could get ugly folks. If you have not started to prepare do it now while you still have some time.

  • Sean

    All over the world is the same..The critical time is coming,and it’s not only the economic matter,but a essential matter of human self.although we can’t predict it exactly,it must begin within next several years. I wonder if we human being can go through this big shift.

  • moses737

    The politicians and the news media are all whores of the International Bankers/Illuminati/Freemasonry kingpins. And hell is waiting for them all. And these devils mentioned above are bankrupting our economy, so they can finally have their New World Luciferic Order. And their place in the lake of fire and brimstone will be extremely agonizing to say the least.

    Why? Because of all of their genocides and World Wars and Wars; and mass kilings and the stolen wealth of the nations. And for all of their homosexuality; and child molestations and rapes (of both male and females).

    And for their grand finale; they will try to force everybody to take their zombie making and mind controlling, mark of the beast chip in your forehead or hand. And according to Revelation 13 and 14:9-11, you will be tormented day and night, 24/7, if you take it, because it will mean that you have joined and sided with Satan and his antichrist beast leader; and their leaders and workers. And the leaders and their workers will be tormented 5 to 10 times worse in hell, than your average beast chipped lakey slaves.

  • Depopulation is the reduction over time in a region’s census. It can result from many causes including disease, famine, fertility, genocide, mass execution, and war.

    The US industrial base is no longer large enough to support the US population.

    The US congress is owned by globalists and is doing nothing to restore the US industrial base.

    Don’t be fooled by the democratic hoax that entrepreneurs will restore prosperity in America by inventing the next hula hoop. Don’t be fooled by the republican hoax that lower taxes will bring jobs back from China.

    What comes next?

    • Brandy

      Look at Plum Island most people know nothing about it… Our own government is going to get rid of a lot of us… They are now gonna move the facility to the middle of Kansas next to the university and where a lot our food supply comes from.

    • Ben Dover

      Sure jobs will come back from China. We all just have to work for.25/hr.

      One looming factor is the cost of transport. As transport costs skyrocket, it becomes more profitable to produce and sell locally or regionally.


    Another Great writing piece Michael!

    One line stood out by itself and could be the title of another one of your articles.
    “There simply are not nearly enough jobs for all Americans at this point.”

    This means either two things must take place.
    A great world war that kills off a significant portion of the earths population or one half becomes welfare recipients and the others who work then their taxes must go up substantially to pay for the unemployed.
    Because Jobs are NEVER coming back.

    It is sad but those are our only two options left.

    • Gary2

      I second this. Not to even mention GOOD jobs and not shit walmart jobs.

  • San Diego sk8er


  • mondobeyondo

    Recovering economy? Ha! Maybe if you’re a politician, or a Wall Street banker, it is. For the rest of us, well….the American middle class is being stretched and pulled just like that 1970’s toy doll, “Stretch Armstrong”. Grab an arm here, pull a leg there – let’s see how far he’ll stretch before he completely breaks.

    Oh, and one more thing… (a slight wink and nod to the late Peter Falk, aka Lt. Columbo)

    Just WHY is Obama allowing the release of oil from the Strategic Petroleum Reserve? I thought it was only for crises and events such as oil embargoes, hurricanes, etc. Only the President has authorization to release oil from this reserve. Supposedly it is “to lower domestic gas prices”. Really?? I smell a rose, I mean a rat!

    There is no immediate oil crisis, unless you count the disturbances in Libya. They do produce quite a bit of oil (the biggest oil producer in north Africa), but they are not a major player in the world oil scene, like Saudi Arabia or Iraq, or Iran.

    Something is going on. You don’t just open up the Strategic Oil Reserve because you want gas prices to be at $3.53/gallon by July 4th. Does Obama and the government know something we don’t? Hmmm. Time to pick up where Columbo left off, and do a little investigating. Ha!

  • HerrLT

    Dire straights is where the economy is passing through now. It is too late in the game for anything meaningful to happen without a ‘reset’ taking place as Marc Faber would put it. The game of musical chairs is about to be up and anyone not mentally prepared will be left out when the music stops.

    I would like to think they’ll (elite) let it be a slow burn rather than a flashpoint, but I doubt they can draw it out that long. Google ‘unified quest 2011’ – you know the devil’s demons are headed for us when even the military and pentagon are preparing for a breakdown. Add global food shortages and multiple theatres of war in the middle east and that is all I need to be scared into turning full-time expat in Brazil or Argentina. 🙁

  • The Jig’s Up

    What do I think of the state of the economy? Enjoy your soma, beer, commercial sports, porn, Wal-Mart shopping, viagra, Two and a Half Men, Lost, Great Race and all the other sordid mindless filth that you are supposed to engage in.

    Don’t acknowledge the reality of Sin in your life–just indulge in your self-righteous drug of moral superiority over your fellow Americans.

    Keep your delusions that you are superior to the vast majority of your fellow Americans and groove on your Self-Righteousness Drug!!!

    Throttle Up Discovery!!! And remember the Plank in your own eye while you remove the little speck from your neighbors eye.

  • 007

    Cut spending, cut small businesses taxes, freeze regulations, get government out of every aspect of our lives. Put a 25 percent tariff on all imports from countries paying below our minimum wage, a tax credit for every employer for every employee that he employes, Kill old regulations that are over burdensome on business creation and development. Make America the most business friendly, best place to do business in the world. Reform the tax code, cut the cronie tax loopholes, reduce the overall tax rates and expand the tax tax base. Stop creating incentives for people not to work. Ohh phase out the federal reserve and get back on the gold standard.

    These solutions would save our country. The economy would flourish. If we don’t these problems are coming at the speed of a freight train and will destroy us.

    • James

      If you really want what you said you want above, vote for Ron Paul and vote out everyone in Congress.

    • Gary2

      Gold Standard-subordinate our economy to gold producing nations like South Africa.

      I heard this on the radio and it seemed to make scene to me.

  • Erin

    The entire system is indeed faltering. Unfortunately very few people are pushing viable solutions. As a rough guess, less than half of the population is aware that something is wrong. And among those that have some idea about what is happening, most are running for the hills.

    The actions that need to be taken, such as government takeover of the too-big-to-fail banks, can not be justified until there is a crash. Cutting government entitlements and pensions can not be done until/unless local and state governments declare bankruptcy. The political leadership (if there were any) can not act as long as the political majority (both self serving republicans and democrats) are acting in their own interests instead of the public interests.

    We have the equivalent of the BP oil spill, the government should take over in some areas, but it will not do so because it is unwilling to assume responsibility of a no-win issue. And those areas where the government has already taken over, such as finance, education, housing, health … the government is unable to fix the very problems it has created. I can’t see any economists or politicians talking about rejecting unfair “free” trade pacts … these pacts and many other agreements can not be nullified without first letting the world economy implode.

    It is a rotten deal and we are paying the price for corrupt leadership.

  • shypuffadder

    The average American is okay with all the financial chaos, discrimination against the unemployed, and the plight of the jobless. Employees willingly turn against each other in order to secure their own job. Then, when its their turn to be laid-off, they look like a deer caught in headlights. Sometime after that, the gravity of the situation forcefully begins to sink in.

  • Otown Right Guy

    “Today, approximately half of all Americans say that they could not come up with $2,000 within 30 days without selling away some possessions.”

    That’s a shocking statement. It means half of the population is one missed pay check, or more likely, government check, away from starvation, rioting and looting.

    • Gary2

      I bet it is more than 1/2.

  • Steve

    I’m not a Bible Thumper- BUT ask yourself this:

    If God put TSUNAMIs on peaceful (never invading anyone) Japan in March 2011, what will he do to warmongering (killing 1.2 Iraqi civilians), Gay Marriage (thanks NY!)- loving America.

    Perhaps it’s off-topic, but I LOVE this website and am thankful each day for its info.

    Yes, the economy is dreadful and I’m seemingly the only one in the supermarket stocking up (250 cans and counting!) like the world is ending tomorrow.

    • Michael


      Thank you for visiting each day.

      It is good to be appreciated.


    • muddsbks1

      Check your history, the peaceful, never invading anyone Japan invaded China and Indochina looking for raw materials. Peaceful Japan used Allied POW’s during WWII for testing torture methods which is why the death rate of Allied POW’s was so much higher under the Japanese than the death rate of Allied prisoners under German control.

    • kat

      Have you heard of Pearl Harbor?

      • Bo

        Pearl Harbour was a false flag just like 9/11. Wanna read about real Japanese atrocities? Check out crimes in China and the Philippines.

  • I know it’s frustrating. Nobody I tell believes me either. My mom, who is living on her pension, thinks I’ve fallen under the spell of the tin foil hat crowd. I’m afraid they will yank that pension right from under her sooner or later and I’ll have to take in both her and her husband, who irritates my last nerve.

    This lady from church I know wants to “trust to God” and not stock any extra food. I dunno, maybe trusting in the Great Pumpkin would be better, at least you could eat the pumpkin when TSHTF. The Lord helps them who help themselves. I think He is helping me now when I do prepping.

    You know, though, that the scoffers (and the neighbors) might come knocking when they run out of food. That I might have to put up food for them as well as myself, or turn them away.

    The very few people I’ve mentioned that I might get a firearm to become horrified. It’s almost as if I am pointing a gun at them in that moment. They think I’ve REALLY lost it.

    Strangely, they don’t get all worried that I take karate, even though that can also be deadly. They don’t get worried that I have kitchen knives in the house or even a replica sword. They have been conditioned to think guns are bad.

    And that becomes the dilemma. Do I keep trying to warn those close to me, or do I start being more discreet in the name of OPSEC? Because I feel like they won’t listen anyway, except maybe later they’ll become a problem.

    And the big question in my mind: How long do I continue my blog, or do I shut ‘er down before the Orwellian new Internet Czar “Terminator” dude gets a head of steam going and decides all survivalist or conspiracy bloggers are enemies of the state? I spend a lot of time on this blog that I could be using practicing karate or gathering wild edibles and canning them, or scanning and selling my books so I can buy a survival retreat.

    • Reality Seeker

      Yours is a thoughtful, helpful, articulate, and well written comment. Don’t back off of the direction that you’re headed, because, unlike the majority, you’re on the right track. I want to personally thank people like yourself for contributing to humankind’s most valuable resource, namely, *thought.*

    • Macnasty

      I agree with you.I try telling people likewise to research,to look at history but the sad truth is they won’t believe it untill it smacks them right between the eyes then its to fricking late !!.Thanks Michael I’m glad I stumbled on to this site I read it all the time.

  • Oh, as to your original question (sheepish grin), I think we are royally f’d. The economy crashes if we keep spending like we are. It crashes if we raise the interest rate. It crashes if the Euro crashes (domino effect). Therefore Greece is our problem too. We can’t grow our way out of this one anymore. We’re damned if we do and damned if we don’t. I think we have until 2012 sometime, maybe late 2012, but that’s just a rough guess.

    They’re starting to sell municipal assets like parking meters in Chicago to foreign investors. China wants to build a 50 mile by 50 mile industrial town in Iowa. A Chinese enterprise zone or some such. That would be a perfect way for them to smuggle weapons in here (or manufacture them on the sly). And Iowa is actually agreeing to let them do this, probably because Iowa’s broke.

    It’s a fire sale, and once the dust settles on either the hyperinflation or the next great depression, our a$$ will be owned either by China or by the major banks we just pulled money out of taxpayer butts to bail out.

    At that point someone may suggest a world wide currency based on petroleum or gold. Petrodollars. Then we’ll have to pay world taxes on top of all the other taxes.

    The gov is getting ready for major unrest, too. They have built over that last 10 years many FEMA camps that have one way in and out, barbed wire pointing in, guard towers, and, chillingly, cremation ovens. Possibly the ovens are for a plague scenario. Sometime in the last two months I posted GPS coordinates of some of these camps.

    They are also storing thousands of stackable plastic cremation coffins in Hamilton, Georgia and other places. I also saw some in Ontario last week on a flatbed truck. The patent for these coffins is available on scribd and there are numerous Youtube videos of the stacks of coffins in Georgia.

    I know the camps and the coffins may not be related to the economy, but if the economy crashes, we will have massive unrest for a period of months, after which the “normal” level of crime will make Mayberry look like the Bronx. We may expect SWAT-like police and TSA-grope checkpoints on street corners to become normal. If the unrest gets too awful they might start using a FEMA camp here and there to house prisoners.

    On 1/1/13 the HIRE Act has a part that goes into effect, heavily penalizing any money that leaves the US. Some foreign banks are already refusing to do business with American expats. Expat tax advice websites are freaking out.

    Get out of the US, if you have any money and freedom to ditch this place, now. Go to Singapore or South America (Paraguay, Chile or Uruguay are all good). Or at least if you must stay, get your money out of dollars and into something else fungible or useful.

    At this point, if you’re staying, food, bandages, a wood stove, solar panels, water filters and ammo would be good, because they will become scarce at any price later. Get the water filters first.

    If you’re going to stockpile precious metals, I would do either silver dimes, because they’re the smallest denomination so you won’t be trying to get change for a gold bar, and also I’d get some old gold or silver jewelry at close to spot price. They may tax or outlaw the sale of coins or bullion, but jewelry might escape that. Don’t get a safe deposit box, that creates a paper trail. They confiscated all the gold in 1933, they might do it again.

    Good luck out there.

    • Mikey

      Not Iowa, but Idaho

  • Dave in Scenic City

    Agree with everything you say. Understanding the depth and scope of the endemic corruption in our society and government is like peeling an onion with an infinite number of layers. We all know (don’t we?) what is at the core. This is the history of humanity and the inevitable is finally coming home to America. Educating oneself and insisting that our government and citizenry act responsibly is prudent and commendable but in the end, all that we can/must really accomplish is — in the (paraphrased) words of J.R.R. Tolkein — to root out evil in the fields we tend. We must begin with ourselves, do right by our neighbors, and teach our loved ones the wisdom to do the same.

  • Dr. Nancy

    I am so very very thankful I found this site–

    Profit in Spite of Today’s Economic Crisis —

    Watch This Free Video Now:

  • Lazy Ike

    The US should have instituted these remedies back in the 90s when Ross Perot referred to the giant sucking sount:
    (1) Impose import tariffs denominated on average production labor costs.
    (2) Bring the troops home and defend the border with Mexico. When food prices rise there will be millions of Central Americans storming the border with weapons. This will collapse all real estate values ” Detroit style” in the areas affected.
    (3) Dissolve all the “too big to fail” banks.
    (4) Have a uniform federal labor law, abolish 14(b)
    (5) Encourage intelligent females to have more children, instead of the opposite.
    (6) Replenish the $2.6 trillion in the Soc Sec trust fund by raising the taxes on the wealthy who stole all the money in the first instance.
    (7) Extend Medicare to everyone. Outlaw pharmaceutical advertising. Control medical costs and expansion and duplication of services.
    (8) Amend the Constitution to outlaw campaign contributions from outside the district and corporations.
    (9) Start electing populist leaders with guts like Harry S Truman.

    • Ben Dover

      I LOVE drug company ads. “This antidepressant is BELIEVED to work by… This drug to help you stop smoking or this one to help you sleep may cause side effects like dry mouth (only a passing mention of the possibility of hostility to others (read;murder) or suicide).

    • Gary2

      Good insight. You are 100% correct!

      I especially love #6

  • Maria

    The elite want to slowly induce economic collapse to usher in their final solution…tyranny. Their control mechanisms are so intertwined in our government and economy that we may need collapse in order to remove their system of control.

    We can turn their controlled implosion against them. Their plan is contingent upon nations accepting the bailouts. If nations refuse the bailouts, they destroy the stranglehold the banks have on their governments and economies. Defaulting on the fiat debt can even destroy the banks who have preyed upon our world.

    It can be done! It must be done if we want to regain our freedom!

    Default on the debt, and destroy the central banks!

  • Perry K

    Excellent post today! If I was in the Bankster/CEO class I would think that the economy is just about perfect – plundering the Treasury, turning everyone else into indentured servants, and getting them to fight against each other instead of me. Alas, I am not, so I am feeling the pain just as 99.9% of citizens are now or will soon be feeling.

    Thank you for repeating your American Dream comment about how Americans are encouraged to hate one another these days. The upper crust is very effectively using the ‘divide and conquer’ playbook. From some of the comments that I have read on this site, this message hasn’t sunk in yet. I am constantly amazed how some fellow readers, being better informed than the general public (thanks in large part to your blogs), still resort to the ‘the dems are evil’ or ‘the repubes are evil’ rhetoric. This scares me. We won’t be able to save this nation until we identify the real enemy. Of course, the 0.1% control the media. Do you really think that Rush is just like you as he rakes in his millions? He is preaching hate. The left-leaning talking heads who are raking in their millions are just as bad, just less irritating.

  • Nickelthrower


    The problem, as I see it, is that the recognition of a problem or crisis forces a person to act and come to terms with the problem. If I realize and accept the fact that a Greater Depression is right around the corner then I am forced to act and prepare. Since, as the article stated, half of all Americans could not come up with $2000 without liquidating assets, then how can those – those about to get hit the hardest, do anything to prepare?

    People living paycheck to paycheck can not do the things necessary to prepare for the disruptions that are coming. Disruptions in food, water and energy that are going send the nation into a suicidal frenzy as those aforementioned items have been provided for the masses, and done so rather cheaply, for nearly 100 years.

    People will believe anything in order to not have to act. Just look at 911 if you do not believe me as that event showed how credulous everyone is as the majority accepted what the media told them transpired. C’mon, I’m not a genius but I’m pretty sure that airplanes do not fold themselves into neat little holes and then burn all traces of themselves. I also suspect that skyscrapers (3 in one day) can not fall neatly into their own footprint.

    Now, it is much easier to accept the official version because any other line of thinking then begs the next question: What are you going to do about it?

    The vast majority will continue to stick their heads in the sand which is fine as most of those people will perish when the supermarkets are empty or when the money becomes worthless and the cheap oil is shut off for good. It is, after all, simple math.

  • 007

    Michael great article as usual. Now that QE2 is ending who is going to step up and by the treasuries. Your post back to me is well laken. However, the Fed is claiming to stop buying treasuries, everyone is broke, China isn’t buying them and you can be guaranteed the mystery buyer is going to step in and buy up any excess treasuries. The only thing worse than QE3 is just printing money and hiding it from the public. I know it is a hard one to prove but I believe you could make a compelling case. This could well be the most important economic issue facing the world economy. So I hope you will give it a try. Here is some research others have done on this issue. It all seems to stink to high heaven!

  • Tatiana Covington

    Not only is there DWST, we were also all distracted into seeing Congress getting its Weiner out. *************

    Let’s get back to serious business, instead of being fooled into acting like a bunch of giggling 12-year-olds learning how to tell dirty jokes and then understand them.

  • George O

    I hope that the realization of who is responsible for America’s massive debt as well as Europe’s will become understood in time. The finger should be pointed directly at the Federal Reserve, Congress and Wall Street Bankers; they blew up the economies; they are the real terrorist that threaghten America as a whole…they are our greatest threat. The people need to know that

  • Markus

    Say thanks to Nixon’s out of Bretton Woods Fiat money printing just for the sake of winning the cold war against USSR.
    Well… you won the war and condemned US to collapse 20 years along the road… well done… and what for?! Russia is still there and socialism is still alive across the world.

  • Okie Dan

    Congress probably would not create any better money than the FED at this point. We have a phony system of money meant to empower government and the banking cartel known as the FED. The Gold standard forced discipline in the markets. When we produced less than we consumed, gold flowed out of the country leading to a need to re-balance our consumption and production. That made both governments and bankers have to watch their balance sheets. They ended the gold standard. We began to be able to inflate the money supply and the money increasingly went overseas. As long as foreign governments saw they could create industry accepting American dollars, they did so. It was in their interests. With a gold standard the game of inflating your money supply and exporting your jobs would have reached a breaking point decades ago. The fiat money allowed the US economy to keep from rebalancing. The Government and the banksters have the sort of money they have to keep from facing the reality of hard choices. Producers should choose the money they desire, not have to accept government money. They would want something rare and not easily manipulated. They would want something like gold and precious metals. Con men, bankers, and politicians would want to pay in paper and digits. That is our problem.

  • This is like Luke Chapter 17 verses 20-37

    26 And as it was in the days of Noe, so shall it be also in the days of the Son of man.
    27 They did eat, they drank, they married wives, they were given in marriage, until the day that Noe entered into the ark, and the flood came, and destroyed them all.
    28 Likewise also as it was in the days of Lot; they did eat, they drank, they bought, they sold, they planted, they builded;
    29 But the same day that Lot went out of Sodom it rained fire and brimstone from heaven, and destroyed them all.
    30 Even thus shall it be in the day when the Son of man is revealed.
    31 In that day, he which shall be upon the house top, and his stuff in the house, let him not come down to take it away: and he that is in the field, let him likewise not return back.
    32 Remember Lot’s wife.
    33 Whosoever shall seek to save his life shall lose it; and whosoever shall lose his life shall preserve it.
    34 I tell you, in that night there shall be two men in one bed; the one shall be taken, and the other shall be left.
    35 Two women shall be grinding together; the one shall be taken, and the other left.
    36 Two men shall be in the field; the one shall be taken, and the other left.
    37 And they answered and said unto him, Where, Lord? And he said unto them, Wheresoever the body is, thither will the eagles be gathered together.

    Some Christians refer to verses 34-36 as the “Rapture” (a lie told to you by the Wall St Church), but remember verse 32 “Remember Lot’s Wife.”

    Lot’s Wife dided because she looked back and longed for the world. This means thos who look back at the World will be the ones who will disappear- LIKE LOTS WIFE.

    Only the 144,000 of Revelations will be taken up to avoid the turmoil on Earth. The rest of us are going to have to “Man/Woman up” and stick it out.

    Dispensationalism is nothing more than an American “Convienience” Theory. Americans like Convienience and ease, and love to avoid problems- especially end of the Apostate world society problems. The Raputre is a perfect American Fairytale used as a form of social control, when in all reality only 0.00000001% of believers are going to be “Raptured.”




    THE AMERICAN WALL ST CHURCH TEACHES OTHERWISE- No wonder why some estimate that a Majority of American Gen Ys are apostates.

  • Monk

    The problem isn’t just the Fed but overspending by everyone: government, corporations, and households. That’s why debt went up across the board.

  • The country is virtually doomed. Even if the federal govt gets spending under control and stops increasing the debt, there is no longer a safety net. They have wasted all of the taxpayers money to keep us afloat to this point. The next major market hiccup will trigger a full collapse.
    Beans, Bullets, God, Gold, Guns are all you will have left, if you prepare.

  • will penny

    think it’s bad know, wait till the nato ground war in libya and syria starts (simultainiously). oil will spike to $200 a barrel, combine that with out of control spending and borrowing, soaring unemployment and u thinks things are crappy now….

  • VyseLegendaire

    “There are hordes of highly educated, hard working Americans that are working temporary or part-time jobs at close to minimum wage because that is all they can get.”

    Haha, this is true but I find the use of the word ‘hordes’ to be quite dramatic.

  • You can discuss all you want and while the rest of the population wastes time in discussing the problems, the real masters of the financial assets, the richest 1% of the population will have transferred the majority of wealth to themselves using electronic exchanges and corrupt and incompetent politicians (the rule makers and enforcers). They would transfer all the debt to the taxpayers and their future generations leaving them homeless, jobless, hungry and frustated for the foreseeable future.

  • rootkit

    I think a good first step is to elect a president who promises to get rid of Ben Bernanke and replace him with someone who understands the importance of sound money. That’s a start, anyway.

  • wyattearp

    Its not the GOVERNMENTS job to CARE ABOUT PEOPLE! The Governments job is to PROTECT people so they can take care of themselves! PROVIDE for the “GENERAL WELFARE” instead of provide the welfare!

  • wyattearp

    Its not the GOVERNMENTS job to protect the LIBYAN people or the SYRIAN people! Just the AMERICAN PEOPLE!

  • mondobeyondo

    The fact that nearly half of all Americans could not come up with $2,000 within 30 days is scary indeed. Those people are literally living on the edge, and it will not take much to push them over. One layoff, or one car crash, or one medical emergency, or property tax notice, and these people are SCREWED. That’s no way to live life. No wonder so many people stay awake at night…

  • Colin

    I saw this over at I think it may be oversimplified – I have heard it said that 90% of jobs are obtained through connections, this chart I feel has a very important truth.

  • stan

    why is Hussein Obama releasing 30 mil barrels of oil from the emergency oil?

    in 2 years there is an election.

  • Afi K. James

    June 25th, 2011 at 3:19 am · Reply
    the economy has never recovered from the recession at least for us former middle class.

    I was duped by Obama with all the hope and change shit. Its just that repubes are so much worse.

    Is it on purpose that we have such shitty choices for politicians.

    Does anyone really think the likes of Paul Ryan, pelenty/romney/palin give 2 shits about regular people? that they are capable of solving anything? They could probably not manage a Starbucks.

    Welfare queen bachmann? How can these dolts even be taken seriously?

    Anyway you shake it they all suck but the dems suck less, much less.

    Not really, both parties truly suck ass.

    • Gary2

      Well, let’s see. The Dem plan calls for supporting Medicare and includes the health-care reform act of 2009. Both are, in fact not just our plans, they are current law. What’s the GOP plan? Oh yeah, destroy Medicare, Social Security and health-care reform so the wealthiest can keep their tax breaks.

      I agree health-care reform should have been single payer which I predict it will be in 10 years when people wake up to the scum bag insurance companies immoral profits.

      Regardless the lesser of 2 evils may still be evil but I will take less evil over more evil any time.

  • david lawn

    to Colin
    June 25th, 2011 at 3:05 am
    Sir, you are OK . It is OK to be “ostracised” : there are very good reasons for that. Dont worry about it and dont seek prescriptions against that.
    With love
    David Lawn

  • Ted

    Don’t forget the golden rule, those with the gold make the rules.

    • Gary2

      which is why we need to tax the rich hard and spread the wealth.

      Jim Hightower says “wealth is like manure, its only good if its spread around, otherwise it sits in a pile and stinks”

  • CitznKate

    The state of the economy is not good. Forty-eight banks have failed in the U.S. in 2011 so far. The mainstream media continue to spout propaganda about a mythical “recovery” when more than 400,000 people are added to the ranks of the unemployed every month. The business and financial pages are completely out of touch with the failing middle class in this country and only consider how the jobs report will affect the stock market. There are pockets of relative prosperity which, for the time being, seem insulated from the chaos and ruin. In such regions, people should be using this opportunity to set a few things aside for contingencies but I fear many are not taking advantage of their situation. I suspect normalcy bias may be paralyzing some who have begun to feel the strain due to loss of a job or reduction in hours or pay. They do not want to believe they need to take action and they are waiting for things to return to the way they were before the collapse began. As for persons failing to prepare because they believe God is going to care for His people, this reflects a mistaken impression of the ways in which God cares for His people. He gives us the wisdom and the knowledge and the strength to prepare: “Go to the ant, thou sluggard; consider her ways, and be wise: Which having no guide, overseer, or ruler, Provideth her meat in the summer, and gathereth her food in the harvest” (Proverbs 6:6-8). Even people of limited means can do something to start preparing. The change jar can accumulate a cash reserve faster than many people think it can. Just getting an extra sack of beans, or one of rice, or maybe a case of bottled water on a regular trip to the grocery store would be a start. Improvising a 72-hour kit for each member of the family would be a start. Maybe what it comes down to is accepting responsibility for one’s own welfare and the welfare of one’s household rather than depending on “someone” to come rushing in to save the day in the event of some personal, regional, or national catastrophe.


  • MichaelR

    “the “establishment” is constantly trying to divide us and get us fighting with one another. They pit the Republicans against the Democrats (even as though control both sides). They pit one race against another. They pit one gender against another. We are told that the rich are against the poor, the north is against the south, urban is against rural” . . .

    I might add, Christian against Moslem against Jew against . . .

  • feudal warlord

    everything is fine keep shopping.

  • moses737

    Are you doomed as a nation financially? Probably so. The United States will default on their world loans. Especially to China. What if the Chinese get mad and attack us? Its possible. Who knows; the globalist could actually give China trillions so that they will attack us. This is what they have done in the past. When a nation got out of line; the International Bankers/Illuminati would give money and weapons to another nation so they could overcome them and they could buy up the other defeated nation on pennys on a dollar.

    And even now; these devils are supplying China with much military intelligence and arms and computer chips to launch inter-continental missiles.

    But then too; the globalist doesn’t want to pollute the world in nuclear halocaust; but that doesn’t mean that the Russians won’t do it anyhow.

  • Richard

    I am curious if things are so bad then how come this country hasn’t turned into a huge civil war? Isn’t that where things go when food, shelter and the basic necessities are gone?

    • William S

      Hi Richard,

      That is true in history, however, you have to recognize that at least here in the United States, we now have a police state to “protect us” from civil war. The militant police and military will make sure that we have peace and that we are all “obedient” and do as we are told.

      So no worries—-just do as you are told—-eat what your are told to eat—–say what you are told to say—-and there will be no problems, trust me!

    • mondobeyondo

      Well, civil war isn’t too likely when the government feeds you (food stamps) and houses you (Fannie Mae, Freddie Mac, HUD, etc). Just wait until government is unable or unwilling to meet those obligations, and…..

    • Jason

      If they the unemployed end up on services too long then it is to the FEMA camps with them. Reduction by design, you know about Gore and his baby reduction scheme along with the carbon footprint. Hello Darwin, everybody say it outloud. Servival of the fittest.

  • Discouraged1

    I am afraid of what the future will bring.

    • William S

      Don’t be afraid, discouraged. You just need to retrain yourself and your value system. To survive and thrive in the coming years, you just need to do the following:

      1) Get access to as much credit as you can and use it.

      2) Master the art of deception: learn how to lie, cheat, and steal tactifully.

      3) Look out for yourself and nobody else. Screw family and friends—bottom line is all that matters is getting ahead, nothing else.

      4) Focus on perception. The truth is what you make it and how you define it. Morals, honesty, etc., are so 20th century. The “future” is here, and that means being a master of looking out for numerou uno at the expense of others.

      The above should get you started. The bottom line is there has never been a greater time in the history of mankind to be optimistic. You live in the most corrupt country ever to grace planet earth, and this is good. Because you live in a corrupt country where corruption is rampant at all levels, there is no expectation of honesty anymore. So, it is the liars and criminals game now. You don’t have to create anything—-just take it from the “dumb ones” that still believe.

      That was easy!

      • Gary2

        What he is saying is to become a conservative republican. He has described their attributes perfectly.

        • OGL

          Next you’ll claim that the American left is more in-line with the founding fathers than Republicans. Not that I’m a Republican – they smell just like Democrats minus the taint of treason.

      • Ben Franklin XII

        W.S.: can not believe what you are believing and preaching. this country and the world have far more decency and good people than you think. Let me ask you: have your mail kept arriving? are not those working at grocery stores honest enough to put foods on the shelves that are safe to eat? aren’t the farmers producing foods from fields you can trust that not safe to eat? have your neighbors and people in your city come to rob you or harm you? haven;t the water companies supplied you safe water, and utilities companies keep your power on, and phone working? did the barbers who cut your hair harm you? are the chefs and waiters who prepared your dishes not doing their jobs at restaurants? when disasters strike, such as the hurricanes and tornadoes, who are helping the injured and distressed? … … the list goes on an on. In summary: hard and honest working people are doing their jobs everyday to make this world functioning! Now, what have yourself done and contributed to making the world better?

  • Really well written article. I try not to think about the economy much (probably like most people), but I do have a decent understanding of where and how it is failing. There’s a great video on Youtube that goes over it all in 2 minutes. Do a search for ‘The Truth About the Economy’ on Youtube.

  • Blogo

    You are correct to be pessimistic. We have two parties who are now slaves to the economic interest groups who feed them campaign cash so that they can keep their jobs. The Republicans continue to listen to the American Bankers Association, the defense contractors and every corporation who benefits from cheap foreign labor. The Democrats care about the public employee unions and keeping the ruling bureaucrats happy.

    Here are some ideas. First make the banks take 2% off of every mortgage and credit card loan they have on their books and make them pass down the zero interest rates they get from the Fed. The banks uave been investing your money in Treasuries and are then paying themselves bonuses for not lending the money they received. Write your Congressman. The Republicans probably wont listen, but the Democrats, who seem to love class warfare as a stategy to get reelected, will. Second, start lobbying for public financing of elections with strict limits on how much can be spent, and take the lobbyists out of the mix. If an outside group gives money it can be labeled as it should be, i. E. As a bribe. Last, urge Congress to replace the income tax with a VAT and let voters control the amount of VAT that can be charged. This will get rid of half of the lobbyists whose sole purpose is to pass laws that give their sponsors tax breaks at our expense

  • timo44

    I pray to GOD every day, because I know all what he says about the end of days are coming true. I save silver, I try to tell people the truth about what is happening. That’s about all I can do, ill leave the rest up to God. Because this world is truely ruled by satan the devil. We see it all around us. Corruption is the key to this world anymore. If you can’t lie, steal and cheat you wil be walked over. But its ok our turn will come.

  • ScoutMotto

    I agree with timo44.

    Our so-called representatives are selling us down the river for a communist agenda put forth by the international bankers. Get rid of the Federal Reserve bank, and you will cut the New World Order off at the knees. Get rid of the IRS while your at it. When the central bank is gone, we won’t the thugs at the IRS stealing our hard-earned wages to pay interest on a fraudulent debt.

  • Auntiegrav

    The celebrated “middle class” is simply a storage mechanism for resources. Whereas the very rich used to be forced to keep their wealth in circulation in order to continue their income, the middle class has filled storage bins and drywall shanties with junk that cannot be recirculated. Thus, the middle class has been a huge Usefulness Sinkhole, taking resources from the future and not giving anything useful back, either to the future or to even themselves.
    Exacerbated by the Humanist generalities that we should do things like ‘care for the poor’ and ‘feed the world’, we end up with multiplied demands on available resources, with no hope in sight of ever questioning our validity as an evolved species.

  • I am perplexed by this. I was watching the Martix and I wonder if technology is consuming us more than money? Think about it, money is NOT really valuable. You can’t breathe it, eat it, drink it, love it (well truly love- subjective statement) and neither is technology. We need food, air, water, and love to be happy that’s it. I suggest us that want to be activist’s get together and form a large scale alliance. I own a video company, I am happy to spread messages of personal empowerment and free market systems. Any thoughts?

  • Dethrual

    Well at least all of u are aware of what’s to come. Some people are in the dark and clueless. Brace yourself and prepair.

  • nicolag

    i believe that the state of the economy is very good and er.. LOVE AND PEACE TO ALL live in a happy jolly world full of love oh love to the world woooo. 😀 😀 go buy a donner kebab hi teagan and cerys HAHAHA! XXXXXX

  • Sampson

    World war would be the only thing to divide our economics between other countries and actually regress back to a simpler time .
    Unfortunely our technology is enough to kill us all and we could end up wiping us out all together.

    This country could only fight a well defined enemy and that scenario is unlikely though like a train approaching , something big is coming this way ..
    The bomb on Nagasaki Japan killed a estimated 80 to 90,000 people .
    The current number of unemployed in North Carolina is 450,000.. If the consintrated effect of unemployment were like a atomic bomb then the total number effected in NC alone wopuld be as 5 atomic bombs . Each state is being destroyed a new bomb that can’t be seen .

    We area at war with econmics and we are losing .

    We are going to lose this country ..

  • i have no name

    so how bout dem knicks?

  • MIKE

    and to think the obama & romney can raise 200 million for their campaigns in a matter of weeks.

  • MIKE

    I remember when the middle class were the backbone of this country-now its like we are nothing now. The elderly should be taken care of no matter what-after all they were the ones who built this country just for the politicians to ruin it.

  • Tammy

    United we stand, what else is there to say?

  • Ben Franklin XII

    W.S.: can not believe what you are believing and preaching! Why are you so pessimistic about people and society? No! It’s everybody for him/her self. This country and the world have far more decency and good people than you think. Let me ask you: have your mail kept arriving? are not those working at grocery stores honest enough to put foods on the shelves that are safe to eat? aren’t the farmers producing foods from fields you can trust that not safe to eat? have your neighbors and people in your city come to rob you or harm you? haven;t the water companies supplied you safe water, and utilities companies keep your power on, and phone working? did the barbers who cut your hair harm you? are the chefs and waiters who prepared your dishes not doing their jobs at restaurants? when disasters strike, such as the hurricanes and tornadoes, who are helping the injured and distressed? … … the list goes on an on. In summary: hard and honest working people are doing their jobs everyday to make this world functioning! Now, what have yourself done and contributed to making the world better?

  • Andy

    Once anyone or any system starts to impose their rules or thoughts on someone else it is the beginning of the end of the human race. The best economic system allows for people to choose freely and make choices not one that controls behaviour and imposes the rule of law. That is why socialist countries are in poverty and the US the richest so far. Our parents ran from controlled system of governance.
    Statements about the rich not paying their fair share is simply propaganda preached by previous authoritative governments. These people already give more in philanthropy than most people give in 1,000 life times, but still somehow it is not enough. These people who have worked tremendously hard and sacrificed already represent over 70% of all taxes. Their taxes are the main reason for the high standard of living we enjoy relative to global conditions. Instead of wanting more people that are rich, we frown upon them. Furthermore, every piece of evidence indicates that it is mathematically impossible that asking more from the rich will solve the economic issues so why are we harping on this. It makes no sense. this is simply political propaganda for the purpose of winning votes. At the same time it is important to distinguish between hard working rich from the banking elite billionaires who are in cahoots with the government. This is the greedy group that we should be leery of.
    Every socialist agenda is to spend to the hilt in order to win votes. The end result…everyone is poorer. The reality is that the American people are 40% worse off since the Obama administration took office.
    Unfortunately, once socialism starts it is very difficult to turn it around. Just look at every socialist country.

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