We are steamrolling toward a massive global debt meltdown, and at this point world leaders seem to be all out of solutions. Over the last 30 years or so, the greatest debt bubble in the history of the planet has produced unprecedented prosperity in the western world. But now that debt bubble is starting to burst and the bills are coming due. Many believe that “ground zero” for the coming global debt meltdown will be in Europe. Unlike the U.S. and Japan, the nations of the EU can’t just print more money to cover their debts. Nations such as Greece, Portugal and Italy must repay their debts in euros, and those nations are rapidly getting to the point where their debts are going to overwhelm them. Unfortunately, major banks all over Europe are very highly leveraged and are also very heavily invested in the sovereign debt of nations such as Greece, Portugal and Italy. If even one EU nation defaults it will start tipping over financial dominoes. If more than one EU nation defaults it could cause a cataclysmic wave of bank failures all over Europe. (Read More...)
Wake Up America! 10 Very Obvious Reasons Why The Devastating U.S. Jobs Famine Is Going To Suck The Hope Right Out Of America
Do you have friends, neighbors and relatives that can’t find work? Well, unfortunately the current U.S. jobs famine is about to get a whole lot worse. Right now there are approximately 13.9 million unemployed Americans. That does not count those that “are not looking for work”. That does not count those that are working part-time jobs but that are desperate for full-time work. The truth is that we need tens of millions more full-time jobs in order to give one to everyone that wants one. Sadly, the long-term trends that have caused this mess continue to get worse. Unless truly dramatic changes are made, the U.S. economy is going to continue to bleed jobs and that is going to suck the hope right out of this country. It is time to wake up America! It is not a big mystery why we don’t have enough jobs. But sadly, very few of our leaders are talking about the real issues. (Read More...)
21 Signs That The New Reality For Many Baby Boomers Will Be To Work As Wage Slaves Until They Drop Dead
All over America tonight, millions of elderly Americans are wondering if their money is going to run out before it is time for them to die. Those that are now past retirement age are not going to be rioting in the streets, but that doesn’t mean that large numbers of them are not deeply suffering. There are millions of elderly Americans that are leading lives of “quiet desperation” as they try to get by on meager fixed incomes. Many are surviving on Ramen noodles, oatmeal, peanut butter or whatever other cheap food they can find in the stores. There are some that are so short on cash that they will not turn on the heat in their homes until things get really desperate. As health care costs soar, millions of elderly Americans find themselves deep in debt and facing huge medical bills that they cannot possibly pay. A lot of older Americans would go back to work if they could, but jobs are scarce and very few companies seem to even want to consider hiring them. Right now caring for all of the Americans that have already retired is turning out to be an overwhelming challenge, and things are about to get a whole lot worse. On January 1st, 2011 the very first Baby Boomers turned 65. A massive tsunami of retirees is coming, and America is not ready for it. (Read More...)
Bad News
The bad news about the economy just keeps rolling in. If this is an economic recovery, what in the world is the next “recession” going to look like? Today there was another huge truckload of bad economic news. The stock market had another 400 point “correction”, applications for unemployment benefits are up again, inflation is higher than expected, home sales have dropped again and Europe is coming apart at the seams. The financial markets have been in such a state of chaos recently that days like today don’t even seem “unusual” anymore. But we should all be alarmed at what is happening. We haven’t seen anything quite like this since the darkest days of 2008 and 2009. If more bad news keeps pouring in, we may soon have a very real panic on our hands. (Read More...)
20 Signs That The World Could Be Headed For An Economic Apocalypse In 2012
If you thought that 2011 was a bad year for the world economy, just wait until you see what happens in 2012. The U.S. and Europe are both dealing with unprecedented debt problems, the financial markets are flailing about wildly, austerity programs are being implemented all over the globe, prices on basics such as food are soaring and a lot of consumers are flat out scared right now. Many analysts now fear that a “perfect storm” could be brewing and that we could actually be headed for an economic apocalypse in 2012. Hopefully that will not happen. Hopefully our leaders can keep the global economy from completely falling apart. But right now, things don’t look good. After a period of relative stability, things are starting to become unglued once again. The next major financial panic could literally happen at any time. Sadly, if we do see an economic apocalypse in 2012, it won’t be the wealthy that suffer the most. It will be the poor, the unemployed, the homeless and the hungry that feel the most pain. (Read More...)
Taxed Into Oblivion
In the United States today, we are being taxed into oblivion, yet it is being done so stealthily that most Americans don’t even realize what is happening. Most people are fixated on federal income tax rates, but the federal income tax is only one of the dozens of different taxes that each of us pay each year. The politicians have learned that people get really upset when income tax rates are raised, so they have found hundreds of other ways to raise taxes on us. What most taxpayers in the United States today are facing is “death by a thousand cuts”. When you add up all forms of taxation from all levels of government, approximately 40 percent of all the income in the country is taken in as taxes by government. Large numbers of Americans end up paying well over 50 percent of their income in taxes, and many of them don’t even realize that it is happening. We truly are being taxed into oblivion, and yet the politicians just keep coming back for more. (Read More...)
16 Statistics Which Prove That The American People Are Absolutely Seething With Anger
According to a whole host of polls and surveys, the American people are incredibly angry right now. The American people are hopping mad at the government, the American people are hopping mad about the economy and the American people are hopping mad about the direction that this country is headed. Never before in modern U.S. history have the American people been this angry. There is vast disagreement about what the solutions to our problems actually are, but what everyone can agree on is that the American people are absolutely seething with anger right now. The statistics that you are about to read are mind blowing. We used to be such a happy country. Once upon a time we were one of the happiest places on earth. But as the economy has fallen to pieces anger has been steadily growing. If something is not done to turn the economy around eventually this anger is going to erupt in frightening and unpredictable ways. (Read More...)
10 Signs That Economic Riots And Civil Unrest Inside The United States Are Now More Likely Than Ever
You should let the video footage of the wild violence that just took place in London burn into your memory because the same things are going to be happening all over the United States as the economy continues to crumble. We have raised an entire generation of young people with an “entitlement mentality”, but now the economy is producing very few good jobs that will actually enable our young people to work for what they feel they are entitled to. If you are under 30 in America today, things look really bleak. The vast majority of the good jobs are held by people that are older, and they aren’t about to give them up if they can help it. It is easy for the rest of us to tell young Americans to “take whatever they can”, but the reality is that there is intense competition for even the most basic jobs. For instance, McDonald’s recently held a “National Hiring Day” during which a million Americans applied for jobs. Only 6.2% of the applicants were hired. In the old days you could walk down to McDonald’s and get a job whenever you wanted to, but now any job is precious. The frustration among our young people is palpable. Most of them feel entitled to “the American Dream” and they feel like the system has failed them. Unfortunately, many of them are already turning to violence. But the economic riots and the civil unrest that we have already seen are nothing compared to what is coming. Americans are angry, and as the economy continues to collapse that anger is going to reach unprecedented heights. (Read More...)