In America tonight, tens of millions of men and women will struggle to get to sleep because they are stressed out about not making enough money even though they are working as hard as they possibly can. They are called “the working poor”, and their numbers are absolutely exploding.
As a recent Gallup poll showed, Americans are more concerned about the economy than they are about anything else. But why are Americans so stressed out about our economic situation if things are supposedly getting better?
Well, the truth is that unemployment is not actually going down, and the real unemployment numbers are actually much worse than what is officially being reported by the government. But unemployment is only part of the story. Most American workers are still able to find jobs, but an increasing proportion of them are not able to make ends meet at the end of the month. Our economy continues to bleed good paying middle class jobs, and to a large degree those jobs are being replaced by low income jobs. Approximately one-fourth of all American workers make 10 dollars an hour or less at this point, and we see them all around us every day. They flip our burgers, they cut our hair and they take our money at the supermarket. In many homes, both parents are working multiple jobs, and yet when a child gets sick or a car breaks down they find that they don’t have enough money to pay the bill. Many of these families have gone into tremendous amounts of debt in order to try to stay afloat, but once you get caught in a cycle of debt it can be incredibly difficult to break out of that. Continue Reading
This one is sure to enrage
Source: The American Dream
Millions upon millions of young Americans have completely lost faith in the U.S. economy and are mad as hell that their economic futures have been destroyed. The recent economic downturn has hit those under the age of 30 the hardest. Today, there are hordes of young people that should be entering their most productive years that are sitting home with nothing to do. Many of them have worked incredibly hard throughout high school and college. Many of them have stayed out of trouble and have done everything that “the system” asked them to do.
But once they got finished with school, the promised “rewards” simply were not there. Instead, millions of young Americans are faced with crushing student loan debt loads in an economy where they can’t find good jobs. When you are in your twenties, it can be absolutely soul-crushing to send out hundreds (or even thousands) of resumes and not get a single interview. Most of us grew up believing that we would “be something” when we got older, and millions of young Americans are having those dreams brutally crushed right now. Americans under the age of 30 voted for Barack Obama in droves back in 2008 because they believed that he would make things better. Instead, Barack Obama has made things even worse. Significant numbers of young Americans are starting to wake up and realize that neither political party is providing any real answers, and they are starting to get mad as hell about it.
Americans under the age of 30 don’t want to hear that they are not going to be able to do better than their parents. They don’t want to hear that they are going to have to “pay the price” because of the mistakes of previous generations. They don’t want to hear that the “good jobs” that have been held out as a “carrot” for them all these years have disappeared and are not coming back.
Millions of young Americans want what was promised to them. They want good jobs that will enable them to enjoy the “American Dream”. They want things to go back to the way that things used to work in America. Continue Reading
NEW YORK (AFP) – US financial stocks plunged on Friday after a newspaper reported that the government would sue more than a dozen big banks over mortgage-backed securities that imploded in the 2008 financial crisis.
Bank of America plummeted 6.5 percent by midday, while JPMorgan Chase was down 3.6 percent and Goldman Sachs was down 4.7 percent.
All three banks were named in The New York Times’ report that the Federal Housing Finance Agency was about to file the lawsuits to demand compensation for tens of billions of dollars in losses that were borne by US taxpayers.
The drop in banking stocks outpaced losses in the broader stock market driven by a disappointing report on US unemployment, with the Dow Jones Industrial Average down 1.4 percent.
“A report in The New York Times has sent banking stocks spiraling lower,” said Andrea Kramer, an analyst with Schaeffer’s Investment Research. Continue Reading
Israel’s Jerusalem Post newspaper recently published an article calling Israel “The New Golden Country” for young people from around the world. It reports that Israel boasts an ever-increasing GDP, a strong currency, and a lower unemployment rate than the US.”
The article fails to mention the well over $3 billion a year that American taxpayers have given Israel for years, nor the fact that some of this money has been used to develop industries that compete with US companies, costing thousands of American jobs and adding to the American unemployment rate.
The story also omits the fact that Israel has periodically stolen US technology, hurting the US economy still more, and fails to note that support for Israel has cost Americans in the range of $3-$6 trillion and that these costs continue to escalate. Continue Reading
Source: The American Dream
There is wild disagreement about what is causing it, but what most people can agree on is that there is something fundamentally wrong with America. The fabric of American society just does not seem to be as strong as it used to. In fact, many would argue that society is coming apart at the seams. Corruption and decay seem to be everywhere. I spend a lot of time in my other articles blaming a lot of this corruption and decay on politicians, bureaucrats and business leaders, but the reality is that they are only part of the story. The truth is that those who are leading us are a reflection of what we have become as a nation. If you got rid of all of our corrupt leaders that would not suddenly “fix” this country. Millions of ordinary Americans have become deeply corrupt as well. The kinds of things that you are about to read about below were very rare in past generations. Society is falling apart all around us and we haven’t even seen the complete collapse of the U.S. economy yet.
A lot of people like to blame the increasingly bizarre behavior of the American people on the economy, but the reality is that things are not nearly as bad as they are eventually going to be. Yes, the U.S. “Misery Index” recently hit a 28 year high. Tens of millions of American families are deeply suffering. Unemployment is rampant and unprecedented numbers of Americans have been getting kicked out of their homes. Continue Reading
“Social security, free health care, unemployment benefits, and direct welfare payments, [at the expense of the middle class] create a dependent class whose support for our critical measures can easily be made part of a package deal.” (see #5 below)
“There is no proletarian, not even a Communist, movement, that has not operated in the interests of money, in the direction indicated by money, and for the time being permitted by money–and that without the idealists among its leaders having the slightest suspicion of the fact.” — Oswald Spengler: “Decline of the West”
Excerpt from “The Occult Technology of Power,” which purports to be a manual used to instruct an Illuminati heir, published in 1974. Internal references suggest that it was a work of imagination based on intensive study and observation. Mostly consistent with my conclusions, I regard it as an inspired account of reality. Continue Reading
June 29, 2011
An Open Letter to Illinois Senator Mark Kirk from three constituents responding to his call for U.S. Special Forces to attack a flotilla of ships that will sail to Gaza
Senator Mark Kirk
524 Hart Senate Office Building
Washington DC, 20510
June 29th, 2011
Dear Senator Kirk,
We are Illinois residents writing to you from Athens, Greece. Just before leaving the United States, we wrote to inform your office about our intent to sail on “The Audacity of Hope,” as part of the US Boat to Gaza project. In our letters, we explained why we were traveling to Gaza. We told you of our previous experiences living among Palestinians who lack access to basic necessities, such as clean water, because of the blockade. Referring to Gaza as the world’s largest open-air prison, we mentioned how hard it has been for people to rebuild after previous lethal assaults, especially the Operation Cast Lead attack which ended, after 22 days, on January 18, 2009. According to B’tselem, the foremost Israeli Human Rights Organization, Operation Cast Lead caused the deaths of 1,389 Palestinians in Gaza. Of those, 344 were children. Of the 13 Israelis who were killed, four were soldiers killed by friendly fire. Continue Reading
By Brandon Smith
It’s amazing. In the wake of the 2008 derivatives and housing bubble collapse, created by the U.S. Treasury and the private Federal Reserve with engineered low interest rates and easy money designed to artificially pump up the economy after the effects of the dot-com bust, the faltering markets of 2000-2001, and the rapidly depreciating dollar, we have now seen these same entities pour Trillions, yes, TRILLIONS in fiat injections into every conceivable corner of the markets. They have spent incredible sums on toxic equities (worthless equities, and don’t let anyone tell you different) to “ease” the debt spiral, they have propped up almost every large international bank, they have propped up the Federal Government and the Dollar itself with sizable purchases of our own Treasury debt, and, they have even thrown money into the pockets of foreign institutions and corporate beggars. Keep in mind, that all the debt that these actions generate is eventually placed squarely in the lap of one group of people; the American Taxpayer!
They have manipulated unemployment figures. They have consistently released completely fraudulent CPI (inflation) figures based on calculations which neglect numerous factors that used to be counted only two decades ago. They have used coordinated naked short selling in precious metals markets to hold back the natural spikes in gold and silver values. They have blamed every negative development in the economy (that they could not hide) on extraneous circumstances and outside culprits rather than themselves. They have done all this, to conjure the illusion of recovery for an increasingly agitated general public.
So much tap dancing and snake oil selling, and all it took, was the pain of $4 a gallon gas to wipe everything away… Continue Reading
WASHINGTON — Social Security payments to millions of retirees and people with disabilities could be threatened if President Obama and Congress can’t agree to increase the government’s debt limit by Aug. 2, a new analysis shows.
Although the Treasury Department likely could avoid delaying Social Security checks, the analysis by theBipartisan Policy Center points up the depth of the cuts that would be needed if the $14.3 trillion debt ceiling isn’t raised.
It shows that in August, the government could not afford to meet 44% of its obligations. Since the $134 billion deficit for that month couldn’t be covered with more borrowing, programs would have to be cut.
If Social Security, Medicare, Medicaid, unemployment benefits, payments to defense contractors and interest payments on Treasury bonds were exempt, that would be all the government could afford for the month. No money for troops or veterans. No tax refunds. No food stamps or welfare. No federal salaries or benefits.
Want to protect the social safety net? That would be possible — but only if Treasury stopped paying defense contractors, jeopardizing national security. Plus virtually every federal agency and employee. Continue Reading
BY KEITH FITZ-GERALD, Chief Investment Strategist, Money Morning
When U.S. central bank policymakers conclude their two-day meeting today (Wednesday), there’s really only one question investors want an answer to: What’s the U.S. Federal Reserve plan for QE3?
Let me answer that for you: QE3 is a done deal – although Fed Chairman Ben Bernanke & Co. might well give it another name.
Let me explain …
$2.3 Trillion … And Counting
Since December 2008, when a worldwide credit crisis threatened to take down the global financial system, the U.S. Federal Reserve has had a starring role. It has held the benchmark Federal Funds rate at historic lows between zero and 0.25% to keep the U.S. economy from stalling. And it’s pumped more than $2.3 trillion into the American financial system, mostly by purchasing securities on the open market.
The key to these asset purchases has been two “quantitative easing” plans. The second of the two, known as “QE2,” was a $600 billion initiative that was rolled out in November. It’s supposed to wind down when the second quarter ends next week – which is what the Fed promised at the end of its last FOMC meeting in late April. Continue Reading