If there were any shreds of hope left that the stunning decline of the middle class could be turned around, Obamacare has absolutely destroyed them. Over the past decade or so, the middle class in the United States has been absolutely eviscerated. The number of working age Americans without a job has increased by 27 million since the year 2000, median household income in the U.S. has fallen for five years in a row, and the poverty numbers in this country are spiraling out of control. And now here comes Obamacare. As you will see below, Obamacare is causing millions of Americans to lose their current health insurance policies, it is causing health insurance premiums to explode to absolutely ridiculous levels, and it is systematically killing jobs even though the employer mandate has been delayed for a while. All of this is creating a tremendous amount of stress for millions of middle class families that are already stretched extremely thin financially. According to CNN, a survey that was conducted earlier this year found that 76 percent of all Americans are living paycheck to paycheck. Most of those families simply cannot afford to pay much higher health insurance premiums for new policies that also come with much larger deductibles and significantly increased out-of-pocket costs. Millions of those families will ultimately end up choosing to do without health insurance altogether, and that will create a whole host of new problems. This is a disaster that is so enormous that it is really hard to put into words. If the U.S. health care system was a separate country, it would be the 6th largest economy on the entire globe all by itself. And now Obamacare is going to bring the entire U.S. health care system to its knees. (Read More...)
The Federal Reserve Is Monetizing A Staggering Amount Of U.S. Government Debt
The Federal Reserve is creating hundreds of billions of dollars out of thin air and using that money to buy U.S. government debt and mortgage-backed securities and take them out of circulation. Since the middle of 2008, these purchases have caused the Fed’s balance sheet to balloon from under a trillion dollars to nearly four trillion dollars. This represents the greatest central bank intervention in the history of the planet, and Janet Yellen says that she does not anticipate that it will end any time soon because “the recovery is still fragile”. Of course, as I showed the other day, the truth is that quantitative easing has done essentially nothing for the average person on the street. But what QE has done is that it has sent stocks soaring to record highs. Unfortunately, this stock market bubble is completely and totally divorced from economic reality, and when the easy money is taken away the bubble will collapse. Just look at what happened a few months ago when Ben Bernanke suggested that the Fed may begin to “taper” the amount of quantitative easing that it was doing. The mere suggestion that the flow of easy money would start to slow down a little bit was enough to send the market into deep convulsions. This is why the Federal Reserve cannot stop monetizing debt. The moment the Fed stops, it could throw our financial markets into a crisis even worse than what we saw back in 2008. (Read More...)
Obama’s Secret Treaty Which Will Merge America More Deeply Into The Emerging One World Economic System
Did you know that the Obama administration is negotiating a super secret “trade agreement” that is so sensitive that he isn’t even allowing members of Congress to see it? The Trans-Pacific Partnership is being called the “NAFTA of the Pacific” and “NAFTA on steroids”, but the truth is that it is so much more than just a trade agreement. This treaty has 29 chapters, but only 5 of them have to do with trade. Most Americans don’t realize this, but this treaty will fundamentally change our laws regarding Internet freedom, health care, the trading of derivatives, copyright issues, food safety, environmental standards, civil liberties and so much more. It will also merge the United States far more deeply into the emerging one world economic system. Initially, twelve nations will be a party to this treaty including the United States, Mexico, Canada, Japan, Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore and Vietnam. Together, those nations represent approximately 40 percent of global GDP. It is hoped that additional nations such as the Philippines, Thailand and Colombia will join the treaty later on. (Read More...)
Federal Reserve Whistleblower Tells America The REAL Reason For Quantitative Easing
A banker named Andrew Huszar that helped manage the Federal Reserve’s quantitative easing program during 2009 and 2010 is publicly apologizing for what he has done. He says that quantitative easing has accomplished next to nothing for the average person on the street. Instead, he says that it has been “the greatest backdoor Wall Street bailout of all time.” And of course the cold, hard economic numbers support what Huszar is saying. The percentage of working age Americans with a job has not improved at all during the quantitative easing era, and median household income has actually steadily declined during that time frame. Meanwhile, U.S. stock prices have doubled overall, and the stock prices of the big Wall Street banks have tripled. So who benefits from quantitative easing? It doesn’t take a genius to figure it out, and now Andrew Huszar is blowing the whistle on the whole thing. (Read More...)
Meet One Of The Victims Of Obama’s “Economic Recovery”
Have you ever cried yourself to sleep because you had no idea how you were going to pay the bills even though you were working as hard as you possibly could? You are about to hear from a single mother that has been there. Her name is Yolanda Vestal and she is another victim of Obama’s “economic recovery”. Yes, things have never been better for the top 0.01 percent of ultra-wealthy Americans that have got millions of dollars invested in the stock market. But for most of the rest of the country, things are very hard right now. At this point, more than 102 million working age Americans do not have a job, and 40 percent of those that are actually working earn less than $20,000 a year in wages. If we actually are experiencing an “economic recovery”, then why is the federal government spending nearly a trillion dollars a year on welfare? And that does not even include entitlement programs such as Social Security and Medicare. We live in a nation where poverty is exploding and the middle class is shrinking with each passing day. But nothing is ever going to get fixed if we all stick our heads in the sand and pretend that everything is “just fine”. (Read More...)
10 Facts About The Growing Unemployment Crisis In America That Will Blow Your Mind
Did you know that there are more than 102 million working age Americans that do not have a job? Yes, I know that number sounds absolutely crazy, but it is true. Right now, there are more than 11 million Americans that are considered to be “officially unemployed”, and there are more than 91 million Americans that are not employed and that are considered to be “not in the labor force”. When you add those two numbers together, the total is more than 102 million. Overall, the number of working age Americans that do not have a job has increased by about 27 million since the year 2000. But aren’t things getting better? After all, the mainstream media is full of headlines about how “good” the jobs numbers for October were. Sadly, the truth is that the mainstream media is not being straight with the American people. As you will see below, we are in the midst of a long-term unemployment crisis in America, and things got even worse last month. (Read More...)
How China Can Cause The Death Of The Dollar And The Entire U.S. Financial System
The death of the dollar is coming, and it will probably be China that pulls the trigger. What you are about to read is understood by only a very small fraction of all Americans. Right now, the U.S. dollar is the de facto reserve currency of the planet. Most global trade is conducted in U.S. dollars, and almost all oil is sold for U.S. dollars. More than 60 percent of all global foreign exchange reserves are held in U.S. dollars, and far more U.S. dollars are actually used outside of the United States than inside of it. As will be described below, this has given the United States some tremendous economic advantages, and most Americans have no idea how much their current standard of living depends on the dollar remaining the reserve currency of the world. Unfortunately, thanks to reckless money printing by the Federal Reserve and the reckless accumulation of debt by the federal government, the status of the dollar as the reserve currency of the world is now in great jeopardy. (Read More...)
Which America Do You Live In? – 21 Hard To Believe Facts About “Wealthy America” And “Poor America”
Did you know that 40 percent of all American workers make less than $20,000 a year before taxes? And 65 percent of all American workers make less than $40,000 a year before taxes. If you work on Wall Street, or have a cushy job with the federal government, or work for a big tech firm out on the west coast, life is probably pretty good for you right now. But the truth is that most Americans are not living the high life. In fact, most Americans are just trying to figure out how to survive from month to month. For many Americans, making a choice between buying food for your family and paying the light bill is a common occurrence. But if you don’t live in that America, hearing that people actually live like that may sound very strange to you. After all, if everyone around you has expensive cars, the latest electronic gadgets and million dollar homes, the notion that America is in the midst of a very serious “economic decline” may seem very bizarre to you. (Read More...)