The 10 economic charts that you are about to see are completely and totally shocking. If you know anyone that still does not believe that the United States is in the midst of a long-term economic decline, just show them these charts. Sometimes you can quote economic statistics to people until you are blue in the face and it won’t do any good, but when those same people see charts and pictures suddenly it all sinks in. What is great about charts is that you can very easily demonstrate what has been happening to the economy over an extended period of time. As you examine the economic charts below, pay special attention to what has been happening to the U.S. economy over the last 30 or 40 years. The truth is that what is wrong with the U.S. economy is not a great mystery. All of the economic problems that we are experiencing now have taken decades to develop. Hopefully the charts in this article will help people realize just how nightmarish our economic problems have become, because until people start realizing how incredibly bad things have gotten they will never be willing to accept the dramatic solutions that are necessary to fix our financial system. (Read More...)
Barack Obama’s Budget For 2012: A Complete And Total Joke
Is Barack Obama trying to play a joke on all of us? The budget that the Obama administration has submitted for fiscal 2012 is so out of touch with reality that it may as well be a budget for “Narnia”, “Fantasy Island”, “Atlantis” or some other mythical land. You can view the hard numbers for Barack Obama’s 2012 budget right here. Obama’s budget assumes that the U.S. will experience economic growth of over 5 percent for most of the coming decade. That is so far-fetched that “optimistic” is not the right word for it. It also assumes that U.S. government income (primarily made up of taxes on all of us) will more than double over the next ten years. For 2011, the budget projects that the U.S. government will take in a total of 2.1 trillion dollars, and for 2021 the budget projects that the U.S. government will take in a total of 4.9 trillion dollars. For the Obama administration to assume that the federal government will be able to drain an extra 2.8 trillion dollars per year out of the American people by the year 2021 is ridicul0us beyond belief. In his new budget Barack Obama does propose some very, very modest spending cuts that he knows have no chance of getting through Congress. Barack Obama’s budget for 2012 also does not even attempt to make any cuts to entitlement programs such as Social Security and Medicare. In essence, you can sum up Barack Obama’s budget proposal for 2012 by saying that it is a complete and total joke. This budget is so delusional and so out of touch with reality that it is hard to imagine anyone taking it seriously. (Read More...)
21 Signs That The Once Great U.S. Economy Is Being Gutted, Neutered, Defanged, Declawed And Deindustrialized
Once upon a time, the United States was the greatest industrial powerhouse that the world has ever seen. Our immense economic machinery was the envy of the rest of the globe and it provided the foundation for the largest and most vibrant middle class in the history of the world. But now the once great U.S. economic machine is being dismantled piece by piece. The U.S. economy is being gutted, neutered, defanged, declawed and deindustrialized and very few of our leaders even seem to care. It was the United States that once showed the rest of the world how to mass produce televisions and automobiles and airplanes and computers, but now our industrial base is being ripped to shreds. Tens of thousands of our factories and millions of our jobs have been shipped overseas. Many of our proudest manufacturing cities have been transformed into “post-industrial” hellholes that nobody wants to live in anymore. (Read More...)
Shocking New IMF Report: The U.S. Dollar Needs To Be Replaced As The World Reserve Currency And SDRs “Could Constitute An Embryo Of Global Currency”
The IMF is trying to move the world away from the U.S. dollar and towards a global currency once again. In a new report entitled “Enhancing International Monetary Stability—A Role for the SDR“, the IMF details the “problems” with having the U.S. dollar as the reserve currency of the globe and the IMF discusses the potential for a larger role for SDRs (Special Drawing Rights). But the IMF certainly does not view SDRs as the “final solution” to global currency problems. Rather, the IMF considers SDRs to be a transitional phase between what we have now and a new world currency. In this newly published report, the IMF makes this point very clearly: “In the even longer run, if there were political willingness to do so, these securities could constitute an embryo of global currency.” Yes, you read that correctly. The SDR is supposed to be “an embryo” from which a global currency will one day develop. So what about the U.S. dollar and other national currencies? Well, they would just end up fading away. (Read More...)
Is Ben Bernanke A Liar, A Lunatic Or Is He Just Completely And Totally Incompetent?
Did you see Ben Bernanke’s testimony before the House Budget Committee on Wednesday? It was quite a show. Bernanke seems to believe that if he just keeps on repeating the same mantras over and over that somehow they will become true. Bernanke insists that the economy is getting much better, that quantitative easing will lower long-term interest rates, that all of this money printing by the Federal Reserve is not causing inflation and that the Fed knows exactly what needs to be done to dramatically reduce unemployment inside the United States. So is anyone out there still actually buying what Bernanke is selling? Sure, a handful of people in the mainstream media still have complete faith in Bernanke. But for the rest of us, it is becoming increasingly clear that there is something really “off” about Bernanke. So just what is going on with him? Is he lying to all of us on purpose? Could he be insane? Is he just completely and totally incompetent? (Read More...)
Shocking Video Of Howard Dean Declaring That It Is The Job Of The Government To Redistribute Our Wealth
In the shocking video you are about to watch, Howard Dean declares that it is the job of the government to redistribute our wealth. Not only that, he says it in such a way that indicates that he believes that such a notion should be obvious to anyone with half a brain. Well, while it is true that the United States has become a highly socialized nation, the reality is that this is not what the founding fathers intended. The founders intended for us to live in a land where we would have enough freedom and enough liberty to be able to work hard and enjoy life, liberty and the pursuit of happiness. They did not intend for a gigantic federal government to take huge amounts of money from one group of people and give it to another group of people. In any nation where a large scale redistribution of wealth is happening, the incentive to work goes right out the window. Pretty soon you end up with an entire class of people that have learned how to “make a living” by being a parasite of the government, and that is not good for any economy. (Read More...)
10 Reasons Why It Has Become So Soul-Crushingly Difficult To Find A Job In America Today
Have you been unemployed lately? If so, then you probably know how frustrating it is to try to find a job in the United States today. It now takes the average unemployed worker about 33 weeks to find a job. There are millions of Americans that have not been able to find a full-time job even after searching hard for an entire year. Some areas of the United States have been devastated so badly by the economic downturn that they are starting to resemble war zones. Unless you have been there, it is hard to even try to describe the extreme frustration that one feels when you are unable to pay the mortgage and feed your family. It can be absolutely soul-crushing. But it is not the fault of those who are unemployed. The truth is that our economy is dying and it is not producing nearly enough jobs anymore. Unfortunately, as you will see from the facts listed below, most of the things that are causing our economy to die have no realistic chance of being changed any time soon. (Read More...)
59.9 Percent? Americans Are Racking Up Huge Credit Card Balances Once Again And Some Of The Interest Rates Are Absolutely Outrageous!
Well, it was nice while it lasted. One of the really good things that came out of the recent economic downturn was that millions of American families decided to get out of debt. In particular, we had seen a sustained trend of reduced credit card usage in the United States. It looked like Americans had finally wised up. But we should have known that Americans would not be willing to tighten their belts forever. Unfortunately, it appears that getting out of debt is no longer so “trendy”. In fact, the month of December was the third month in a row in which consumer credit grew in the United States. Prior to that, consumer credit in the United States had declined for 20 months in a row. The American people were doing so, so good. Why did they have to stop? It appears that the American people have fallen off the wagon and have gotten a taste for credit card debt once again. This time, however, the credit card companies are back with interest rates that are higher than ever. In fact, one national credit card company has hundreds of thousands of customers signed up for a card that charges interest rates of up to 59.9%. (Read More...)