Although it’s not official (which means government acknowledged), the U.S. is in a Great Depression that began in 2000 and has never really ended.
Oh, it was papered over with massive spending, debt and false confidence and false government reporting and wars, but the depression remained.
Our economic system is simply a confidence game. Our credit-based monetary system requires confidence to remain in a positive mode. Confidence is a perception of reality no matter what reality actually is. When money is credit, it is 100 percent confidence.
Confidence in government is at an all-time low. More and more people are awake to the fact that the system has failed. Why? Because of the mass greed based on the rot of fiat currency. Fiat currency brings not only financial collapse but also the destruction of moral order.
What’s next? Only the mass realization that the financial system and the rule of law are no longer functioning.
There is ample evidence there is a Greater Depression is underway:
- One in six prime-age males has no job. In the 1960s, nearly 100 percent of the men between the ages of 25 and 54 worked. Of those not working, 83.5 percent of them have not worked in more than a year.
- Real unemployment has hovered between 14 and 24 percent since late 2001. Those numbers equal unemployment numbers during the first Great Depression.
- Real wages are lower than they were 30 years ago, while the cost of food, energy, medicine and housing has grown by 3.1 percent annually since the late 1980s.
- There were 1.4 million fewer full-time, full-pay breadwinner jobs in August than there were in January 2001, despite an increase in population of more than 35 million people in that time.
- The percentage of Americans on food stamps has grown from just over 6 percent in 2000 to more than 14 percent today.
- More than 100 million Americans are dependent upon some form of federal welfare (not including Social Security or Medicare).
- One in seven Americans rely on food pantries and local food service charities for food for themselves and their families. And food bank workers say the demand is increasing monthly and they are running out of food.
- An estimated 6.8 million people ages 10 to 17 are food insecure, meaning they don’t have reliable access to enough affordable, nutritious food. Another 2.9 million are very food insecure, and roughly 4 million live in marginally food secure households, where the threat of running out of food is real.
- More than 600,000 Americans are homeless. Tent cities are popping up in large cities across the nation. Poverty USA says more than 1.6 million children slept either in a homeless shelter or in some other form of emergency housing last year.
- According to Gallup, the percentage of Americans who say they are in the middle or upper-middle class has fallen from 61 percent to 51 percent.
- According to Inc. magazine, “The U.S. startup rate has been falling for decades. The Kauffman Foundation, citing its own research and drawing on U.S. Census data, concluded that the number of companies less than a year old had declined as a share of all businesses by nearly 44 percent between 1978 and 2012. And those declines swept across industries, including tech. Meanwhile, the Brookings Institution, also using Census data, established that the number of new businesses is down across the country and that more businesses are dying than are being born.”
- The real Gross Domestic Product (GPD) has been less than 3 percent for 10 consecutive years and is projected at around 2 percent for 2016. The previous longest stretch for such little economic growth was four straight years (1930-1933) during the Great Depression. From 1790-2000 the GDP averaged 3.79 percent.
- The Congressional Budget Office is forecasting that the U.S. will never again see 3 percent GDP growth.
- Under the Federal Reserve’s voodoo economics, 2 percent inflation is supposed to be the magic formula for the controlled economy and is the Fed’s stated goal. But the consumer price index was up 4.5 percent last year and is at 2.4 percent since 2010. Yet the fed continues its reckless zero interest rate policy (ZIRP).
- ZIRP enriches the banksters and crony capitalists and destroys the wealth of savers and those on Social Security.
- The world’s largest shipping companies are going bankrupt. The largest and most recent is South Korea’s Hanjin Shipping. “[T]he failure of Hanjin could also mean failure of the world’s global supply chain, because South Korea’s oceans ministry is estimating a two- to three-month delay in the shipping of some Korean goods that were supposed to be shipped by Hanjin.”
- For the first time ever the total balance of all auto loans surpassed $1 trillion last quarter, and stands at more than $1.027 trillion (as of June 30). Subprime auto loans that are 60 days in arrears are up 13 percent in a month-over-month basis, and up 17 percent over the same month last year. Prime delinquencies are up 12 percent month-over-month, meaning the auto loan bubble has begun to burst.
- The student loan bubble has likewise begun to burst. The Wall Street Journal recently reported that 43 percent (22 million Americans) of student-loan holders aren’t making payments.
- Manufacturers of food products have covered over the rising cost of their goods by slowly reducing the size of their containers. What you once purchased by the half gallon – receiving 64 ounces — you are now purchasing in quantities of 59 ounces or less.
- Millions of square feet of retail and industrial space stands vacant.
Through its money-printing policies, the Federal Reserve has presided over the theft and plunder of the wealth and savings of the American people that is unprecedented in history. Their masters love them because they have transferred trillions of dollars of wealth from the American people to the money creators through devaluation of the currency.
Federal Reserve policies have ruined our country, decimated our savings, undermined morality, killed thousands of our sons and daughters in foreign wars and maimed millions more, hollowed out U.S. industry, corrupted our morality, destroyed the rule of law and imposed fraudulent taxation. It has dehumanized the U.S. Congress into animalistic rubber-stamp lackeys who show contempt for the American people, their culture, their national symbols, their financial health and their faith.
The central bank has corrupted the currency, creating a quicksand society.
All socialist fiat money States/countries transfer wealth and production to the State without payment. Of course, as in America today, this transfer takes place via the depreciation of paper money. The owner of the money printing press owns and controls all wealth and production.
President James A. Garfield said: “Whoever controls the volume of money in any country is absolute master of all industry and commerce.”
This is the quiet understanding of reality among those who want the truth, no matter what it is.
Socialism has great appeal because it promises the masses something for nothing. Say, isn’t this the definition of fiat? Fiat is a social drug, and it is terminal!
A common refrain from is that financial collapses are caused by free market capitalism. What a joke. There has been no free market in the U.S. in more than 100 years.
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