The economic crisis in Europe continues to get worse and eventually it is going to unravel into a complete economic nightmare. All over Europe, national governments have piled up debts that are completely unsustainable. But whenever they start significantly cutting government spending it results in an economic slowdown. So politicians in Europe are really caught between a rock and a hard place. They can’t keep racking up these unsustainable debts, but if they continue to cut government spending it is going to push their economies into deep recession and their populations will riot. Greece is a perfect example of this. Greece has been going down the austerity road for several years now and they are experiencing a full-blown economic depression, riots have become a way of life in that country and their national budget is still not anywhere close to balanced. Americans should pay close attention to what is going on in Europe, because this is what it looks like when a debt party ends. Most of the nations in the eurozone have just started implementing austerity, and yet unemployment in the eurozone is already the highest it has been since the euro was introduced. It has risen for 10 months in a row and is now up to 10.8 percent. Sadly, it is going to go even higher. As economies across Europe slide into recession, that is going to put even more pressure on the European financial system. Most Americans do not realize this, but the European banking system is absolutely enormous. It is nearly four times the size that the U.S. banking system is. When the European banking system crashes (and it will) it is going to reverberate around the globe. The epicenter of the next great financial crisis is going to be in Europe, and it is getting closer with each passing day. (Read More...)
24 Outrageous Facts About Taxes In The United States That Will Blow Your Mind
The U.S. tax code is a complete and utter abomination and it needs to be thrown out entirely. Nobody in their right mind would ever read the whole thing – it is over 3 million words long. Each year, Americans spend billions of hours and hundreds of billions of dollars trying to comply with federal tax requirements. Sadly, it is the honest, hard working Americans in the middle class that always get hit the hardest. The tax code is absolutely riddled with loopholes that big corporations and the ultra-wealthy use to minimize their tax burdens as much as possible. Many poor people do not pay any income taxes at all. The dishonest are rewarded for cheating on their taxes (if they can get away with it) and the ultra-wealthy have moved trillions of dollars to offshore tax havens where they can avoid U.S. taxation altogether. Our system is incredibly unfair to the millions of hard working people in the middle class and upper middle class that drag themselves out of bed and go to work each day and try to do the right thing. In addition, the current U.S. tax system is incredibly inefficient, it diverts a tremendous amount of resources away from more valuable economic activities, and it has chased thousands of businesses and trillions of dollars out of the United States. The U.S. tax code is such a complete and utter mess at this point that it can never be “fixed”. The only rational thing to do is to abolish it completely, and any politician that tells you otherwise is lying to you. (Read More...)
The Hard Working American vs. The Government Parasite
Which lifestyle choice produces better results – being a hard working American or being a government parasite? Actually, when you look at the cold, hard numbers they may just surprise you. In America today, we deeply penalize hard work and we greatly reward government dependence. If you live in a very liberal area of the country and you know how to game the system, it is entirely possible to live a comfortable existence without ever working too much at all. In fact, there are some Americans that have been living off of “government benefits” for decades. Many of these people actually plan their lives around doing exactly what they need to do to qualify for as many benefits as possible. America is rapidly turning into a European-style socialist welfare state and it is destroying our nation socially and financially. Ever since the “war on poverty” began our debt has absolutely exploded and yet now there are more poor people in this country than ever before. Obviously something is not working. (Read More...)
The Shocking Truth About Unemployment In America In One Chart
The mainstream media is not telling you the truth about unemployment in the United States. The percentage of working age Americans that are employed is not increasing. In March 2010, 58.5 percent of all working age Americans had a job. In March 2012, 58.5 percent of all working age Americans had a job. So if the employment rate is exactly the same as it was two years ago, then how in the world can the Obama administration claim that things have gotten significantly better since then? According to the Bureau of Labor Statistics, the official unemployment rate in the United States was 9.8 percent in March 2010 and it declined to 8.2 percent in March 2012. So how is this possible if the percentage of working age Americans that have jobs hasn’t moved? Well, what they do is they claim that there are millions upon millions of Americans that have “left the labor force”. In other words, they claim that there are millions upon millions of unemployed Americans that don’t want jobs anymore. Of course that is a total farce, but the mainstream media and most Americans are buying it. They actually believe that the unemployment rate is going down. But the truth is that the unemployment crisis in America has not subsided. In fact, we are pretty much exactly where we were two years ago, and things are about to get a whole lot worse. (Read More...)
19 Signs Of Very Serious Economic Trouble On The Horizon
Most Americans have no idea how much economic trouble is heading our way. Most of them just assume that everything will eventually “return to normal” just like it always has before and that those running our economy “know what they are doing” and that we should trust them to do their jobs. Unfortunately, these beliefs are being reinforced by the bubble of false hope that we are experiencing right now. For example, it is being reported that weekly unemployment claims in the United States have fallen to a four-year low. That is a very good thing. Let us hope that unemployment claims go even lower and that the current period of stability lasts for as long as possible. We should enjoy these last fleeing moments of tremendous prosperity for as long as we can, because when they are gone they won’t be coming back. As I noted the other day, all of this false prosperity in the United States has been financed by the 15 trillion dollar party that we have been enjoying. We are adding about 150 million dollars to our debt every single hour so that we can continue to enjoy an inflated standard of living. Unfortunately, nobody in the history of the world has ever been able to keep a debt spiral going indefinitely, and our debt bubble will burst eventually as well. (Read More...)
Why Is The Heartland Of America Being Ripped To Shreds By Gigantic Tornadoes That Are Becoming More Frequent And More Powerful?
What in the world is going on in the heartland of America? Spring has barely even begun and we are seeing communities all over America being ripped to shreds by gigantic tornadoes. A lot of meteorologists claimed that the nightmarish tornado season of 2011 was an “anomaly”, but 2012 is shaping up to be just as bad or even worse. These tornado outbreaks just seem to keep getting more frequent and more powerful. For example, several “supercell” tornadoes ripped across the Dallas-Fort Worth metro area on Tuesday. People all over America were absolutely horrified as they watched footage of these tornadoes toss around tractor trailers as if they were toy trucks. Personally, I have never seen a tractor trailer tossed 100 feet into the sky before. This is not normal. CBS 11 meteorologist Larry Mowry told his viewers that one of these torandoes was “as serious of a tornado we’ve seen in years“. So why is this happening? Why is the heartland of America being ripped to shreds by gigantic tornadoes that are becoming more frequent and more powerful? (Read More...)
Read This First Before You Decide That Preppers Are Crazy
Do you believe that preppers are a few cards short of a full deck? Do you assume that anyone that is “preparing for doomsday” does not have their elevator going all the way to the top floor? Well, you might want to read this first before you make a final decision that all preppers are crazy. The information that you are about to read shook me up a bit when I first looked it over. To be honest, I had no idea how incredibly vulnerable our economic system is to a transportation disruption. I am continually getting emails and comments on my websites asking “how to prepare” for what is coming, so when I came across this information I knew that I had to share it with all of you. Hopefully what you are about to read will motivate you to prepare like never before, and hopefully you will share this information with others. (Read More...)
The 15 Trillion Dollar Party
If you knew that you could live in luxury for the rest of your life but that by doing so it would absolutely destroy the future for your children, your grandchildren and your great-grandchildren would you do it? Well, that is exactly what we are doing as a nation. Over the past several decades, we have stolen 15 trillion dollars from future generations so that we could enjoy a dramatically inflated level of prosperity. Our 15 trillion dollar party has been a lot of fun, but what we have done to our children and our grandchildren has been beyond criminal. We ran up the greatest mountain of debt in the history of the planet and we are sticking them with the bill. Sadly, both political parties have been responsible for the big spending that has been going on. Both Democrats and Republicans have run up huge budget deficits when in power. But instead of learning the hard lessons of the past, both political parties continue to vote for even more debt. They would rather continue to steal trillions of dollars from future generations than have the party end and have to face the consequences. (Read More...)