|
|
 Debt is a "soft" form of slavery. In America today, it is not legal to bind people up with chains and force them to work for you, but that doesn't mean that there are not millions upon millions of slaves in this country. When you borrow money, you willingly become a servant to the lender. Sadly, there are millions of Americans that will spend the rest of their lives working to pay off their debts but they will never escape the endless debt slavery that they have gotten themselves into. When you add up all forms of debt in the United States at this point, it comes to more than 54 trillion dollars. That is more than $178,000 for every man, woman and child in America. We truly are one nation under debt, and we have created the biggest debt bubble in the history of the planet. Unfortunately, all debt bubbles eventually burst, and when this one bursts the consequences are going to be unlike anything ever seen before. (Read More.....)
 When most people think about America's debt problem, they think of the debt of the federal government. But that is only part of the story. The sad truth is that debt slavery has become a way of life for tens of millions of American families. Over the past several decades, most Americans have willingly allowed themselves to become enslaved to debt. These days, most of us are busy either going into even more debt or paying off the debt that we have accumulated in the past. When your finances are dominated by debt, it makes it really hard to ever get ahead. Incredibly, 43 percent of all American families spend more than they earn each year. Even while median household income continues to decline (now less than $50,000 a year), median household debt continues to go up. According to the Federal Reserve, median household debt in America has risen to $75,600. Many Americans spend decades caught in the trap of debt slavery. Large numbers of them never even escape at all and die in debt. It can be a lot of fun to spend lots of money and go into lots of debt, but it can be absolutely soul crushing to toil and labor for years paying off those debts while making others wealthy in the process. Hopefully this article will inspire many people to try to escape the chains of debt slavery once and for all. (Read More.....)
 An economic nightmare is descending on Europe. With each passing month, the economic numbers across Europe get even worse. At this point it is becoming extremely difficult for anyone to deny that Europe is plunging into a full-blown economic depression. In fact, some parts of Europe are already there. In Spain the overall unemployment rate is over 22 percent, and in Greece one out of every five retail establishments has already been closed down. All over Europe, economic activity is rapidly slowing down, unemployment is skyrocketing and bad debts are unraveling. It isn't even going to take a default by a nation such as Greece or a collapse of the euro to push Europe into an economic depression. All Europe has to do is to stay on the exact path that it is on right now and it will get there. Normally, European governments would respond to an economic slowdown by increasing government spending. But this time most of them are already drowning in debt. Instead of increasing government spending, most governments in Europe are actually cutting back. All over Europe, national governments are being encouraged to implement even more tax increases and even more budget cuts. The hope is that all of this austerity will help solve the nightmarish sovereign debt crisis that Europe is facing. But unfortunately, all of these tax increases and budget cuts are also going to involve a tremendous amount of economic pain. (Read More.....)
 Did you know that the new World Trade Center tower is being constructed with glass from China and steel from Germany? 1 World Trade Center, also known as "The Freedom Tower", is not just another skyscraper. It is essentially a national monument. But that doesn't mean that we are above awarding construction contracts to the lowest bidder. The new World Trade Center tower will contain 250 tons of steel from Germany and the lower floors will be surrounded with blast-resistant glass from China. This is yet another example of how the U.S. economy is being hollowed out. Once upon a time, the United States produced more steel and glass than anyone else in the world. But now we are being deindustrialized at a blinding pace. We have lost tens of thousands of factories and millions of jobs over the past decade. We are going to have a trade imbalance of about a half a trillion dollars this year. Meanwhile, our federal, state and local governments are going into massive amounts of debt in order to keep funding government activities at a level that our hollowed out economy simply cannot support any longer. (Read More.....)
 Government in America has gotten completely and totally out of control. Our founding fathers originally intended to set up a nation where the power of government would be greatly limited, but today government has become a horribly bloated monster that is relentlessly growing. It is not just the federal government that I am talking about. All over the country, there are state and local governments that have become monstrous as well. No matter who we elect, they just want even more of our money, they demand even more of our time and our resources, they pile even more rules and regulations on to our backs, they seek even more control over us and our children and they take even more of our liberties and freedoms away. They have invented hundreds of different ways to drain money out of us, and yet it is never enough. They pile up nightmarish debts that they expect our children and our grandchildren to repay, and yet our cities and our infrastructure are crumbling all around us. Government seems to have a relentless appetite for demanding even more from all of us, and yet they seem to badly mess up everything that they try to accomplish. Well, I have a message for the government. Get off our backs! (Read More.....)
 Are we about to see a huge push for a "United States of Europe"? As the sovereign debt crisis in Europe continues to spiral out of control, suddenly this term is popping up in the New York Times and in major newspapers all over Europe. So is this by accident? Surely not. The truth is that there is an overwhelming consensus among the political and financial elite of Europe that a "United States of Europe" is what would be best for the eurozone. However, they are likely going to need a massive financial crisis in order to reach their goal. Right now, the citizens of the countries that make up the eurozone are overwhelmingly against deeper European integration. Without experiencing a massive amount of financial pain, they are unlikely to change their minds any time soon. So who is going to win in the end? Unfortunately, the clock is ticking because Greece is on the verge of defaulting on their debts and several other countries are not that far behind. If Europe does not decide on a course of action soon, the euro is going to collapse and financial institutions all over Europe are going to come crashing down. (Read More.....)
|
|
A Message For The Government: Get Off Our Backs!