If you could stay home and relax all day and actually make more money than you do at your current job, would you do it? That sounds crazy, but this is actually a very real dilemma for millions upon millions of Americans. According to a shocking new study that was just released by the Cato Institute, people on welfare are actually better off than minimum wage workers in 35 U.S. states. And in 13 states, those on welfare actually do better than those making $15 an hour. So why bother? It is very difficult to find a job in this economy, especially a good one. As I mentioned yesterday, seven out of every eight jobs that have been “created” since Barack Obama has been president have been part-time jobs. Why slave away flipping burgers, stocking shelves for some retail giant or working for some temp agency when you could just sit home and make more money collecting government checks? Yes, there is definitely a minority of Americans that hate the idea of becoming dependent on the government and would never want to take advantage of the system like that, but that minority seems to be shrinking. At this point, about half the country gets money from the government each month anyway, so why not collect “your share”? If someone is offering to give you something for free, it is only human nature to be at least a little bit tempted. And right now the federal government is making it extremely tempting to give up on work entirely and become a permanent welfare check collector. (Read More...)
33 Shocking Facts Which Show How Badly The Economy Has Tanked Since Obama Became President
Barack Obama has been running around the country taking credit for an “economic recovery”, but the truth is that things have not gotten better under Obama. Compared to when he first took office, a smaller percentage of the working age population is employed, the quality of our jobs has declined substantially and the middle class has been absolutely shredded. If we are really in the middle of an “economic recovery”, why is the homeownership rate the lowest that it has been in 18 years? Why has the number of Americans on food stamps increased by nearly 50 percent while Obama has been in the White House? Why has the national debt gotten more than 6 trillion dollars larger during the Obama era? Obama should not be “taking credit” for anything when it comes to the economy. In fact, he should be deeply apologizing to the American people. (Read More...)
18 Signs That Global Financial Markets Are Entering A Horrifying Death Spiral
You can see it coming, can’t you? The yield on 10 year U.S. Treasuries is skyrocketing, the S&P 500 has been down for 9 of the last 11 trading days and troubling economic news is pouring in from all over the planet. The much anticipated “financial correction” is rapidly approaching, and investors are starting to race for the exits. We have not seen so many financial trouble signs all come together at one time like this since just prior to the last major financial crisis. It is almost as if a “perfect storm” is brewing, and a lot of the “smart money” has already gotten out of stocks and bonds. Could it be possible that we are heading toward another nightmarish financial crisis? Could we see a repeat of 2008 or potentially even something worse? Of course a lot of people believe that we will never see another major financial crisis like we experienced in 2008 ever again. A lot of people think that this type of “doom and gloom” talk is foolish. It is those kinds of people that did not see the last financial crash coming and that are choosing not to prepare for the next one even though the warning signs are exceedingly clear. Let us hope for the best, but let us also prepare for the worst, and right now things do not look good at all. The following are 18 signs that global financial markets are entering a horrifying death spiral… (Read More...)
Those That Are Not Preparing For The Coming Economic Depression Are Going To Bitterly Regret It
The next great economic crisis is rapidly approaching, and most people are going to be totally blindsided by it. Even though the warning signs are glaringly obvious, most Americans continue to believe that our “leaders” know what they are doing and that everything will be just fine. But what will happen when the next great financial crash happens and trillions of dollars of “paper wealth” disappear into thin air? What will happen when the coming credit crunch causes economic activity to dramatically slow down and millions upon millions of people lose their jobs? This shouldn’t sound far-fetched to you. Remember, this is exactly the kind of thing that we saw back in 2008, and the next great financial crisis is likely going to be significantly worse. Our economy is in far worse shape than it was back in 2008, and government dependence is now at an all-time high even though most Americans are still enjoying debt-fueled false prosperity. We are living in the largest debt bubble in the history of the planet, and when it bursts we are going to experience a crippling “adjustment” to our standard of loving. Some people understand this and are busy preparing for what is ahead. It has been estimated that there are approximately 3 million “preppers” in the United States, and that number is growing all the time. Unfortunately, most Americans are not preparing for the coming economic depression and they are going to bitterly regret it. (Read More...)
What Is Going To Happen If Interest Rates Continue To Rise Rapidly?
If you want to track how close we are to the next financial collapse, there is one number that you need to be watching above all others. The number that I am talking about is the yield on 10 year U.S. Treasuries, because it affects thousands of other interest rates in our financial system. When the yield on 10 year U.S. Treasuries goes up, that is bad for the U.S. economy because it pushes long-term interest rates up. When interest rates rise, it constricts the flow of credit, and a healthy flow of credit is absolutely essential to the debt-based system that we live in. Just imagine someone squeezing a tube that has water flowing through it. The higher interest rates go, the more economic activity will be squeezed. If interest rates continue to rise rapidly, it will be more expensive for the U.S. government to borrow money, it will be more expensive for state and local governments to borrow money, the housing market may crash again, consumer debt will become more expensive, junk bond investors will be in for a world of hurt, the stock market will experience a tremendous amount of pain and there is a good chance that we could see the 441 trillion dollar interest rate derivatives bubble implode. And that is just for starters. (Read More...)
Egypt Is Descending Into Civil War, But Don’t Expect Obama To Cancel His Golf Vacation
The largest Islamic nation in the Middle East is on the verge of descending into civil war, the Syrian civil war is starting to spill over into Lebanon, and the worst violence in five years has just hit Iraq, but Barack Obama is way too busy to be bothered with any of that. Right now, Obama is enjoying one of the true loves of his life – golf. According to the Washington Post, Obama has “played 18 holes of golf every day but one this week”, and without a doubt he appears to really be enjoying his time up in Martha’s Vineyard. I hear that it is absolutely beautiful up there this time of the year. And apparently he needs the rest. After all, prior to this vacation he has only had time to play 133 rounds of golf since becoming president. Between snubbing world leaders and getting the U.S. economy going again, it must be really tough for Obama to find enough time to sharpen his game. (Read More...)
If This Guy Is What The Future Of America Looks Like, We Are In BIG Trouble
Should taxpayer dollars be used to buy sushi and lobster for a young man whose future plans consist entirely of surfing and partying as much as he possibly can? When I first saw the video that I am about to share with you, I was absolutely floored. Recently, Fox News interviewed a self-described beach bum named Jason Greenslate who was very open about the fact that he has no problem sponging off of all the rest of us. When he was asked if he ever had any interest in actually getting a job, his response was “not whatsoever”. Instead, he says that his job is to “make sure the sun’s up and the girls are out” and he would rather spend his days partying. Of course every American should be free to live their own lives as they see fit, but the problem is that Jason Greenslate is using food stamps to help support his lifestyle. In fact, he took Fox News into the gourmet section of a local supermarket where he purchased sushi and lobster with his EBT card. Sadly, he is just like millions of other young men in America today that seemingly have had the drive to succeed and to be independent totally sucked out of them. But what is the future of America going to look like if we continue to produce millions upon millions of young men that have absolutely no desire to make a living, get married and start a family? (Read More...)
This Is The Biggest Cluster Of Hindenburg Omens Since The Last Stock Market Crash
Are we heading for a major stock market decline? Warnings about a crash of the financial markets are quite common these days, and usually they don’t materialize. But this time may be different. A number of top analysts are pointing out the fact that the biggest cluster of “Hindenburg Omens” has appeared since the last stock market crash. And those that have studied this insist that the more “Hindenburg Omens” there are in a cluster, the stronger the signal is. Meanwhile, another very disturbing sign is the fact that the yield on 10 year U.S. Treasuries is starting to soar again. On Tuesday it shot up from 2.62% to 2.727%. As I have written about previously, the yield on 10 year U.S. Treasuries is the most important number in the U.S. economy right now. If that number continues to rise, it is going to be very, very bad news for the financial system. (Read More...)