The 2008 Financial Crisis Never Ended: Program to Destroy Independent Middle Class Continues

Which Do you Prefer? End the FED

15 Signs That The Middle Class In The United States Is Being Systematically Destroyed

#1 78 million Americans are participating in the “gig economy” because full-time jobs just don’t pay enough to make ends meet these days.

#2 In 2011, the average home price was 3.56 times the average yearly salary in the United States.  But by the time 2017 was finished, the average home price was 4.73 times the average yearly salary in the United States.

#3 In 1980, the average American worker’s debt was 1.96 times larger than his or her monthly salary.  Today, that number has ballooned to 5.00.

#4 In the United States today, 66 percent of all jobs pay less than 20 dollars an hour.

#5 102 million working age Americans do not have a job right now.  That number is higher than it was at any point during the last recession.

#6 Earnings for low-skill jobs have stayed very flat for the last 40 years.

#7 Americans have been spending more money than they make for 28 months in a row.

#8 In the United States today, the average young adult with student loan debt has a negative net worth.

#9 At this point, the average American household is nearly $140,000 in debt.

#10 Poverty rates in U.S. suburbs “have increased by 50 percent since 1990”.

#11 Almost 51 million U.S. households “can’t afford basics like rent and food”.

#12 The bottom 40 percent of all U.S. households bring home just 11.4 percent of all income.

#13 According to the Federal Reserve, 4 out of 10 Americans do not have enough money to cover an unexpected $400 expense without borrowing the money or selling something they own.

#14 22 percent of all Americans cannot pay all of their bills in a typical month.

#15 Today, U.S. households are collectively 13.15 trillion dollars in debt.  That is a new all-time record.

Read More: http://theeconomiccollapseblog.com/archives/15-signs-that-the-middle-class-in-the-united-states-is-being-systematically-destroyed

Welcome To The Third World, Part 28: The “Bottom Half” “Bolsters” The Economy By Going Into Debt

the rich already have all the stuff they need and are now just letting the cash accumulate as it comes in from stock dividends and executive salaries, while everyone else is borrowing to hold onto what they have.

This of course doesn’t work in the long run because interest payments eventually eat whatever raises the working-class borrower gets in even a strong economy. When the inevitable recession hits, the debt remains while income falls, pushing millions of people over the edge.

This happened in 2008 with mortgages and will soon happen with the mini-bubbles of auto, credit card and student loans. At which point the rich will re-deploy all the cash they’ve accumulated to buy up the assets the rest will have to sell at deep discounts.

This kind of “harvesting” sounds more like pre-revolution France than the modern society outlined in economics textbooks. Which means the eventual reaction of the harvested might not fit the relatively docile patterns of the recent past.

Read More: https://www.dollarcollapse.com/bottom-half-bolsters-economy-depleting-savings/

 

Shutting down fake news could move us closer to a modern-day ‘1984’ – The Washington Post

Fake-News
February 10

Flemming Rose is a senior fellow at the Cato Institute. Jacob Mchangama is director of the Copenhagen-based think tank Justitia.

Remember George Orwell’s Ministry of Truth? In his dystopian novel “1984,” its purpose was to dictate and protect the government’s version of reality. During the Cold War, Orwell’s book was banned behind the Iron Curtain, because readers perceived the novel as an allegory for their own repressive regimes.

It was a serious crime to distribute information defaming the Soviet social and political system. Such criminal laws were widely used by the Kremlin to silence dissidents, human rights activists, religious movements and groups fighting for independence in the Soviet republics. Similar laws were on the books in East Germany, Poland and other Eastern bloc countries.

Thankfully, today this landscape is much changed, but increasingly there are disturbing echoes of the past. Amid a debate about the rising influence of fake news and the danger it poses to the political and social order in the West, democratic politicians in Europe have proposed sanctions — and even prison terms — for those found responsible for distributing false information.

Read More: www.washingtonpost.com/opinions/shutting-down-fake-news-could-move-us-closer-to-a-modern-day-1984/2017/02/10/fd02d29a-ef1a-11e6-9662-6eedf1627882_story.html?utm_term=.1571b3272c01

Bernie Goes Dark After Saying “CNN Fake News”

Surprise, Politifact says Donald Trump made a FALSE statement when he tweeted that Bernie was cut off for using the term “fake news” on CNN.

Politifact tells us, he was cut off because of technical difficulties!

Thank you Poltifact, “winner of the Pulitzer Prize,” what would we do without you?

The clip…

The Truth About Obama’s Job Record | RealClearPolitics

The BLS considers someone working 2 hours a week just as employed as someone working 40 hours a week. The employees certainly wouldn’t consider these jobs equivalent, but they are equivalent for purposes of the official unemployment rate.

By Andy Puzder – February 12, 2015

Since December of 2012, I’ve written a number of articles on how the Bureau of Labor Statistics’ (“BLS”) official unemployment rate is a poor barometer for measuring labor market health principally because of how the BLS determines who is in the labor force. The BLS removes people from the labor force unless they’ve looked for a job in the past 30 days. This is like looking at a professional baseball player’s batting average but ignoring the at bats where he didn’t get a hit unless they happened in the last 30 days. Doing so might tell you something, but it wouldn’t tell you what kind of season he’s having. This is part of the reason why Gallup Chairman Jim Clifton recently wrote in an excellent article that the official unemployment rate is “extremely misleading.”

Read More: www.realclearpolitics.com/articles/2015/02/12/the_truth_about_obamas_job_record_125568.html