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Debt Slaves: 7 Out Of 10 Americans Believe That Debt ‘Is A Necessity In Their Lives’

Debt Slave Debt Slavery Debt Bondage Debt Chains - Public DomainCould you live without debt?  Most Americans say that they cannot.  According to a brand new Pew survey, approximately 7 out of every 10 Americans believe that “debt is a necessity in their lives”, and approximately 8 out of every 10 Americans actually have debt right now.  Most of us like to think that “someday” we will get out of the hole and quit being debt slaves, but very few of us ever actually accomplish this.  That is because the entire system is designed to trap us in debt before we even get out into the “real world” and keep us in debt until we die.  Sadly, most Americans don’t even realize what is being done to them. (Read More...)

The Economic And Financial Problems In Europe Are Only Just Beginning…

Euro Gears - Public DomainRight now, the financial world is focused on the breathtaking stock market crash in China, but don’t forget to keep an eye on what is happening in Europe.  Collectively, the European Union has a larger population than the United States, a larger economy than either the U.S. or China, and the banking system in Europe is the biggest on the planet by far.  So what happens in Europe really matters, and at this point the European economy is absolutely primed for a meltdown.  European debt levels have never been higher, European banks are absolutely loaded with non-performing loans and high-risk derivatives, and the unemployment rate in the eurozone is currently more than double the unemployment rate in the United States.  In all the euphoria surrounding the “deal” that temporarily kept Greece in the eurozone, I think that people have forgotten that the economic and financial fundamentals in Europe have continued to deteriorate.  Whether Greece ultimately leaves the eurozone or not, a great financial crisis is inevitably coming to Europe.  It is just a matter of time. (Read More...)

Barack Obama Promises That Events In Greece And Puerto Rico Will Not Cause A Global Financial Crisis

Barack Obama Giving Speech - Photo by Gage SkidmoreBarack Obama says that we shouldn’t be alarmed by what is happening over in Greece.  On Tuesday, he told reporters that this “is an issue primarily of concern to Europe” and that “I think the markets have properly factored in the risks involved“.  And apparently Obama is not too concerned about the debt crisis in Puerto Rico either.  In fact, the Obama administration has already completely ruled out any sort of federal bailout for the island.  Barack Obama is assuring us that everything is going to be just fine and that we are not headed for another global financial crisis.  So is he correct?   (Read More...)

21 Facts That Prove That Dependence On The Government Is Out Of Control In America

Government Dependence Handouts - Public DomainIf you could stay home and watch television, play video games and hang out with your friends all day at government expense, would you do it?  Of course most Americans that collect money from the government each month are not abusing the system.  Many truly are incapable of taking care of themselves, and others are just receiving government benefits (such as Social Security) that they feel that they have earned by a lifetime of hard work.  But with each passing year the number of Americans jumping on board “the safety net” continues to grow rapidly, and a lot of these people should be able to take care of themselves.  Today, the American people collectively receive more money from the government than they pay in taxes.  And remember, the federal government uses our money to build roads, inspect our food and fund the military as well.  So what does this say about our economy?  Could it survive without all of these debt-fueled transfer payments?  And what does this say about our society?  At one time, our nation was known for our Protestant work ethic.  What would our forefathers say about us today?  The following are 21 facts that prove that dependence on the government is out of control in America… (Read More...)

Will Anything Really Change After The Midterm Elections?

Obama, Pelosi, Reid, Boehner, McConnell - Public Domain The more things change, the more things stay the same.  As I write this, it looks like the Republicans are going to take control of the U.S. Senate.  But will that actually alter the direction of the country?  Will that actually change anything?  There are many that hope that this could represent a “turning point” for America, but history tells us that almost certainly will not be the case.  Over the past 30 years, things have changed very little no matter which party has controlled the White House and no matter which party has controlled Congress.  During that time frame, the national debt has continued to explode, our long-term economic problems have continued to get even worse, our liberties and freedoms have continued to erode and our nation has increasingly become a moral cesspool.  And the truth is that at this point there is very little real difference between most Democrats and most Republicans.  The corruption in Washington D.C. runs extremely deep, and very few politicians are able to enter that environment without being fundamentally affected by it. (Read More...)

18 Sobering Facts About The Unprecedented Student Loan Debt Crisis In The United States

Student Loan DebtThe student loan debt bubble in America is spiraling out of control, and it is financially crippling an entire generation of young Americans.  At this point, the grand total of student loan debt in the United States has reached a staggering 1.2 trillion dollars, and an all-time record high 40 million Americans are currently paying off student loan debts.  Just when our young people should be planning on buying homes and starting families, they find themselves financially paralyzed by oppressive levels of debt.  What makes all of this even worse is that only some of our college graduates are able to get the “good jobs” that we promised them.  So with limited job prospects and suffocating levels of debt, this generation of young Americans is increasingly putting off major life commitments such as buying a home and getting married.  As a society, we really need to rethink how we are “educating” our young people, because what we are doing now is clearly not working.  The following are 18 sobering facts about the unprecedented student loan debt crisis in the United States… (Read More...)

29 Shocking Facts That Prove That College Education In America Is A Giant Money Making Scam

College Graduates By Kit from Pittsburgh, USACollege education in the United States has become a cruel joke.  We endlessly push our high school kids to invest tens of thousands of dollars and at least four years of their lives to get a college education because they won’t have any sort of a “future” without it.  So they sign up for decades of debt slavery and spend years listening to pompous windbags fill their heads with utter nonsense.  The sad truth is that most college courses are a total joke and they do very little to actually prepare those students for the real world.  I know – I attended public universities in the United States for eight years.  Most college courses are so easy that the family dog could pass them.  When they finally graduate, our young people discover that they were lied to all along.  The promised “good jobs” are not there for most of them, but the huge debts that they committed themselves to will follow them around permanently.  When you are just starting out and you are not making a lot of money, having to make payments on tens of thousands of dollars of student loan debt can be absolutely crippling.  This is why I say that college education in America is a giant money making scam.  Our young people are seduced by the idea of college being a five year party that will provide an automatic ticket into the middle class, but the reality is that the only guarantee is that it is a ticket to serfdom unless you have wealthy parents that are willing to foot the bill for you.  And bankruptcy laws have been changed to make it incredibly difficult to get rid of student loan debt, so once you have signed up for student loan debt slavery you are basically faced with two choices: either you are going to pay it or you are going to die with it. (Read More...)

One Nation Under Debt With Endless Debt Slavery For All

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...)

Debt Slavery: 30 Facts About Debt In America That Will Blow Your Mind

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...)