Record-shattering heatwaves all over the world, massive wildfires in Russia, truly historic flooding in Pakistan and China and devastating droughts in many other areas are playing havoc with harvests all over the globe. This is leading many analysts to predict a sharp rise in food prices for the rest of 2010, and there are even whispers that 2011 could see the outbreak of global food riots that are even worse than what we witnessed back in 2008. The truth is that things are starting to get more than a bit frightening out there. One quarter of Russia’s grain crops have already been wiped out by the unprecedented heatwave and the massive wildfires that have been ravaging that nation. In fact, the Russian government has announced that they have banned all grain exports for the rest of this year. This has caused a dramatic surge in the price of wheat on world markets. Unfortunately, Russia is far from alone in dealing with bad harvests this year. So what happens when global food prices go so high that the hundreds of millions of people existing on the edge of poverty around the world can’t afford to buy food any longer? (Read More...)
No More Debt!
As we approach election season here in 2010, American voters are seemingly more angry than at any other time in recent memory. More than at any other time in modern American history, Americans are seeking out alternatives outside the “two party system” (such as the Tea Party movement) through which to express their anger. So why are the American people so angry? Well, the truth is that there are a whole lot of reasons, but one of the biggest reasons is the horrific mismanagement of our national finances that has been going on in Washington. The “Congress critters” have been piling up the biggest mountain of debt in the history of the world, and millions of Americans are now waking up and are now realizing that our financial future has been absolutely obliterated. We have accumulated a debt that is impossible to repay. In fact, it is rapidly getting to the point where it will become impossible even to service the debt. All of this debt is literally killing the American Dream. An increasing number of Americans now realize the horror of what we have done, but the reality is that it may be far too late to reverse the damage that has taken place. (Read More...)
Are The Economic Riots That So Many People Have Been Warning Us About Already Starting?
For years, researchers such as Gerald Celente have been warning that the coming economic collapse is going to spark mob scenes and riots that are unprecedented in U.S. history. Many have scoffed at these predictions and have refused to believe that anything like that could ever happen in America. But if what happened on Wednesday near Atlanta is any indication, we could be on the verge of something really bad. 30,000 people turned out to pick up only 13,000 applications for government-subsidized housing. Some people had waited for over two days just to get their hands on an application. The “chaotic mob scene” that developed as the applications were being handed out left 62 people injured. It turns out that there aren’t even any vacancies in government-subsidized housing at this time in that area. These people were going wild just to get an application to get on the waiting list for government-subsidized housing. Yes, this is what the American Dream has degenerated into – thousands of people rioting in an attempt to get on a waiting list for a government handout. (Read More...)
Is The U.S. Government The Last Great Source Of Middle Class American Jobs?
Once upon a time, private industry was the engine of the great American economic machine. From coast to coast, expanding industries spawned massive cities filled with optimistic Americans who were able to achieve middle class lifestyles on the good jobs that American companies were providing for them. The largest middle class in the history of the world had been created and it seemed possible for just about everyone to live the American Dream. But today all of that has changed. The private sector is being dominated by gigantic global corporations that have shown absolutely no hesitation to ship jobs overseas. Millions upon millions of good jobs have been sent to China, India and the third world and they are never coming back. Pay and benefits for middle class Americans working in private industry have been slowly eroding and are now at dangerously low levels. Meanwhile, working as a “government servant” has never been more rewarding. Today, the average government worker makes far more than the average worker in the private sector does. (Read More...)
An Increasing Number Of Americans Are Living In Their Homes With The Water And The Power Turned Off
The U.S. economy is literally collapsing right in front of our eyes. Millions of Americans have lost their jobs and their homes. Others are trying to hang on any way that they can. As more Americans than ever switch over to “survival mode”, some strange new phenomenons are occurring. For example, an increasing number of Americans are now living in their homes with the electricity and water turned off. That’s right – they are camping out in their own homes without any power and without any running water. In the “richest nation on earth”, millions of Americans can no longer afford electricity and water. Utility shut-offs have been rapidly increasing as more Americans than ever before find themselves simply unable to pay their debts. So is this what the American Dream has come to? Sitting in our homes with the water and power turned off? (Read More...)
An Unemployment Chart Almost Too Depressing To Look At
If you are currently unemployed, you might not want to look at the chart I am about to show you. In fact, even those who have jobs are likely to get quite depressed after looking at it. Why? Well, because it shows that long-term unemployment in the United States continues to get much worse. Millions of middle class Americans have been dumped out of their jobs over the past two or three years, and they can’t seem to find equivalent jobs no matter how hard they try. Millions have given up on finding something that will pay about the same and have resorted to flipping burgers or greeting customers down at the local “big box” store. Millions of others can’t seem to get hired anywhere. The truth is that there are not nearly enough jobs for everyone anymore. Today, there are about 6 unemployed Americans for every single job opening in the United States. It is almost as if tens of millions of American workers have been forced into a very sick version of musical chairs where there are not nearly enough chairs for everyone. Unfortunately, the losers in this game are likely to lose their homes, their dignity and any chance at achieving the American Dream. The truth is that things are getting really bad out there. According to one disturbing new survey, 28% of all U.S. households have at least one member that is looking for a full-time job. That is not just a problem – that is a national crisis. (Read More...)
Why Are The American People Mad? Maybe It Is Because Millions Of Their Jobs Have Been Lost To Outsourcing And They Aren’t Coming Back
As you read this, there are tens of millions of people in China, India and dozens of third world nations who would love to do your job for one-tenth the pay. They are willing to work 12 hours a day. They don’t expect a benefits plan or a pension package. They aren’t going to waste countless hours chatting on their cell phones or updating their Facebook profiles. All they want is a chance. And increasingly, the big global corporations that dominate the world economy are giving it to them. It is called outsourcing, and if you don’t believe that it can happen to your job, you might want to think again. It is not just Americans who are chasing after the American Dream these days. We now live in a global economy with a global workforce and the rules of the game have fundamentally changed. (Read More...)
10 Reasons Why We Might Not See Anything Less Than A Trillion Dollar Deficit For Decades To Come
Do you know how enormous one trillion dollars is? If you were alive when Christ was born, and on that day you started spending a million dollars every single day, you still would not have spent one trillion dollars by now. If right this moment you went out and started spending one dollar every single second, it would take you over 31,000 years to spend one trillion dollars. A trillion $1 bills, if they were taped end to end, would wrap around the globe more than 38 times. That is how big one trillion dollars is. But right now, if the U.S. government could actually reduce the federal budget deficit to one trillion dollars that would be a major victory. In 2009, the U.S. government ran a budget deficit of more than 1.4 trillion dollars. The U.S. government will run a budget deficit of more than 1.4 trillion dollars in 2010. Not only that, the Obama administration is already admitting that the budget deficit will be over 1.4 trillion dollars again in 2011. In fact, the truth of it is that we are looking at trillion dollars deficits for as far as the eye can see. In the process we are piling up the biggest mountain of debt the world has ever seen. What we are doing to future generations is unfathomable. Servicing this monolithic debt is going to devastate the U.S. economy and is going to absolutely crush the American Dream for future generations of Americans. But we can’t seem to help ourselves. We just keep spending. (Read More...)