21 Reasons Why Donald Trump Is Right – China Is Just Ripping This Country Like Nobody Has Ever Ripped Us Before

Earlier this week, an interview with Donald Trump on Fox & Friends made headlines all over the world.  During that interview, Trump stated that he was “absolutely thinking about” running for president in 2012.  But what didn’t get as much attention is why Donald Trump is so motivated to possibly run for president.  It turns out that Donald Trump is horrified by how China (and other nations as well) are absolutely taking advantage of the United States in global trade.  Trump put it this way during the interview: “China is just ripping this country like nobody has ever ripped us before.”  And you know what?  Donald Trump is absolutely right about this.  You see, China has been openly manipulating its currency for years and years so that their products are far cheaper than those produced in America.  This has put entire industries out of business in the United States.  Not only that, but China also openly subsidizes many of their industries, thus giving them a competitive advantage over U.S. businesses and our government does nothing about it.  In addition, China has exploited the fact that they allow their workers to be paid near slave labor wages to attract thousands upon thousands of factories and manufacturing facilities to their shores.  China dumps massive amounts of cheap goods on our shores while openly discriminating against many U.S. good and services.  This kind of unfair trade has enabled the Chinese government to pile up hundreds of billions of dollars in excess currency reserves which it ends up lending back to the U.S. government.  Basically, China is running a massive scam on us and is getting tremendously wealthy in the process. (Read More...)

Inflation Or Deflation? It Is The Fourth Branch Of Government (The Federal Reserve) That Will Make That Decision For Us

Today there is a great debate in the economic community about whether we are going to have crippling deflation or unprecedented inflation in the years ahead.  For decades, a never ending spiral of debt has fueled the almost unbelievable prosperity that Americans have enjoyed.  We have lived way beyond our means, and in the process we have piled up the biggest mountain of debt in the history of the world.  Now, the fourth branch of the U.S. government (the Federal Reserve) has a  decision to make.  Will the Federal Reserve allow the U.S. economy to deleverage, thus setting off a deflationary nightmare worse than the Great Depression, or will the Federal Reserve attempt to crank up the debt spiral one more time by flooding the U.S. economy with another giant wave of paper money? (Read More...)

Bank Of America, JPMorgan Chase And GMAC Suspend Foreclosures Due To Serious Concerns About Foreclosure Procedures

In an absolutely stunning development, Bank of America, JPMorgan Chase and GMAC Mortgage have all suspended foreclosures in many U.S. states due to serious concerns about foreclosure procedures.  There has been an absolutely massive tsunami of foreclosures in recent years and it turns out that mortgage company officials dealing with foreclosure paperwork have not always taken the time to process each foreclosure properly.  Things have gotten so bad that a number of U.S. states have actually opened up official investigations that are looking into some of these foreclosure practices.  But what did everyone expect?  There has been such a dramatic surge in foreclosures over the past several years that it was almost inevitable that shortcuts would start to be taken.  Back in 2005, there were only about 100,000 home repossessions in the United States.  Last year there were about 1 million home repossessions in the U.S. and RealtyTrac is projecting that there will be a record 1.2 million home repossessions this year.  Needless to say, this has created a paperwork headache for mortgage companies of unprecedented magnitude. (Read More...)

Median Household Income Is Falling In Almost Every Single Major American City

Median household income is falling in the vast majority of U.S. states and in virtually every single major U.S. city.  According to the Census Bureau’s annual survey of income and poverty in the United States, of the 52 largest metro areas in the nation, only the city of San Antonio did not see a decline in median household income in 2009.  Needless to say, that is not good news.  If incomes are falling from coast to coast, then how in the world can anyone claim that we are experiencing a “recovery”?  The truth is that we are not in the middle of an economic recovery.  What we are in the middle of is a long-term economic decline.  Incomes are going down and middle class American families find themselves squeezed like never before.  Meanwhile, unemployment has skyrocketed in recent years and it has become much harder to get a good job.  Less Americans than ever are able to achieve anything even close to resembling the American Dream.  Things are getting really tough out there, and as more jobs and factories leave the United States, as the U.S. government goes into even more debt and as the economy continues to implode things are going to get even worse. (Read More...)

Banks Are Failing At A Record Pace, The FDIC Bank Problem List Continues To Grow And Most Americans Don’t Even Realize The U.S. Banking System Is Dying

In the mainstream media, all the talk is about how the “recession” is over.  But the truth is that our economic problems are far from over.  In fact, the U.S. banking system is dying.  U.S. banks continue to fail at a record pace.  The FDIC list of problem banks continues to grow at an alarming pace.  Loans and mortgages continue to go bad at an accelerating rate at banks across the United States.  The truth is that we are in deep, deep trouble, and the vast majority of the American people do not even realize it.  But the American people better wake up soon, because if the U.S. banking system dies, the American Dream is going to die along with it for tens of millions of Americans. (Read More...)

Turn Out The Lights – The Party Is Over: 20 Signs That American Consumers Are Completely And Totally Tapped Out

Many economists have been mystified that even though the recession is “over”, American consumers have not opened their wallets and started spending again like they normally do at the end of a recession.  News report after news report has encouraged Americans to grab their credit cards and to head out to the stores and start spending again, but it just is not happening.  So why are things different this time?  Well, for one thing there is a lot of fear in the air.  Poll after poll after poll shows that faith in the economy has collapsed and that large numbers of Americans fear that things are going to get even worse for the economy soon.  But for millions of other Americans there is another problem – they couldn’t spend more money if they wanted to.  The truth is that living on credit for decades has caught up with us as a nation.  Americans are absolutely drowning in mortgage debt, car loans, credit card debt and student loan debt.  As wages have stagnated, credit has enabled many of us to pursue the American Dream and to live far beyond our means, but that doesn’t last forever.  Now tens of millions of Americans are completely and totally tapped out.  But without the return of the voracious American “consumer” there is not going to be a full economic “recovery”. (Read More...)

10 Reasons Why Barack Obama’s “It’s Not A Stimulus” Package Is A Cruel Joke On The American People

As election season 2010 draws near, the Obama administration has finally realized that the Democrats could actually lose both the House and the Senate in November.  Suddenly all Obama wants to talk about is his wonderful new plan for the U.S. economy.  Unfortunately, what he is suggesting is far too little and far too late.  Anything Obama is proposing now will not be passed by Congress before the upcoming elections, and that is bad news for the Democrats.  The American people tend to vote based on their wallets, and right now the American people are not happy.  They desperately want someone to “fix” what is wrong with the economy.  Obama is running around the country trying to convince people that he is the man to restore the American Dream, but at this point the American people have less faith in his economic policies than ever.  The White House is insisting that Obama’s new economic plan is not a new “stimulus package”, and that is actually true.  Obama’s new plan will not stimulate much of anything.  The truth is that Obama’s new economic plan is really just a cruel joke on those who are willing to have faith in Obama’s ability to somehow turn the dying U.S. economy around.  Unfortunately, throwing several hundred billion more dollars at the problem is not going to do anything to fix the foundational problems that are destroying our economic system.  (Read More...)