American Meltdown: 27 Facts About The National Debt http://mys.tc/2a5
We have been living way above our means for so long that we do not have any idea of what “normal” actually is anymore.
Where is the sweet spot between fiscal responsibility and austerity?
Governments, banks and households struggling with too much debt are dragging down the world’s economy and more needs to be done to make the banking system safer, a global organization of central banks warned Sunday.
… * waiting for other shoe to drop* …
‘For three decades, we have been told that “trickle-down” economics that benefit the wealthy is the key to creating jobs. But that’s baloney. The evidence shows that ordinary people, not the rich, are the real job creators.’
‘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.’
#1 The Federal Reserve System Is A Privately Owned Banking Cartel. #2 The Federal Reserve System Is A Perpetual Debt Machine. #3 The Federal Reserve Has Destroyed More Than 96% Of The Value Of The U.S. Dollar. #4 The Federal Reserve Can Bail Out Whoever It Wants To With No Accountability. #5 The Federal Reserve Is Paying Banks Not To Lend Money. #6 The Federal Reserve Creates Artificial Economic Bubbles That Are Extremely Damaging. #7 The Federal Reserve System Is Dominated By The Big Wall Street Banks. #8 It Is Not An Accident That We Saw The Personal Income Tax And The Federal Reserve System Both Come Into Existence In 1913. #9 The Current Federal Reserve Chairman, Ben Bernanke, Has A Nightmarish Track Record Of Incompetence. #10 The Federal Reserve Has Become Way Too Powerful.
2) The Bain of Our Middle-Class Existence
3) Surprise! Federal Auditors Find Big Pay for Bailed-Out Bankers
4) Economically Addicted to War
5) Mitt Slithers Through the “Carried Interest” Loophole
6) How the Gringrich/Freddie Tryst Distorts History