Salient quote:
“Globalization was rammed down our throats in the name of “free trade,” the Holy Grail of charlatan economists.”
Trump gets it.
"Jeff's academic background inlcudes four years of economics, along with a law degree obtained from the University of Biritish Columbia in 1989. Since then, he has published about 1,000 commentaries on mainstream news and precious metals Web sites around the world."
Ain’t diversity grand !
I was just reviewing a chart of global incomes.
America if I believe, just came in one step (below) Taiwan, and was way down in the ratings.
I’m sorry I didn’t save that, but it was quite shocking to me. We are rapidly losing ground, and NOBODY is standing up for America.
bump
We make ourselves poor with consumer debt and bad financial decisions.
what is the middle calls?
If we live in the south is no where what the NE makes.
how about blue collar workers who are just fed up of the corruption of the elected officials and ivy league lawyers.
Those living in “poverty” in the US have more security than those in the middle class. What they don’t tell you is that poverty stats don’t count non-cash government benefits. People could be getting housing, food stamps, free ed and meals for the kiddies at school, free medical care, subsidized or free utilities, and even a free phone and it isn’t counted as income. I’m wondering why anyone bothers to work unless he or she can make 50K or more a year.
The whole article is based on hiding what that chart is really showing. The 5th decile — median income — globally is $1225 per year, and plainly the chart is counting earned income only and ignoring government benefits or there would be nothing in North America at the bottom end.
Not only the super-rich and the rich, but the entire American middle class and the American “working poor” are in the top blue lump. The bottom blue lump is people on welfare or disability. The chart is not fine-grained enough to tell anything about American economic class. Being in the middle of the global income distribution in North America (whether the US or Canada) is not called being “middle class,” it’s called being dirt poor.
But hey, the stock market keeps going up. Aren’t they all such geniuses? They sure are! QE 1,2, and 3 are not enough. Neither are 0% interest rates for the fat cats. How about negative interest rates? That way, the rubes have to take their money out of their savings and put it in the Ponzi scheme markets. And if they don’t, we’re going to charge them for having their own money in the bank. Brilliant!. And when it all collapses, the Government can seize your IRA and 401(k), because the food stamps have to keep flowing. Oh by the way, the derivatives implosion will have to be paid for with your savings. And the Republican Congress passed that. That’s right. Look it up.
the Corrupt West has now produced a greater percentage of severe poverty in its own populations than in India, and an equal percentage of such poverty as exists in Africa.
Today, we don’t call them slaves, we call them welfare recipients...otherwise those who love poverty to live a better lifestyle than many of those poor who actually work for a living and who are forced by our government to pay for their lifestyle on welfare.
Here in america POVERTY ensures a home, food, utilities, free medical care, daycare, baby supplies and a utopia of other benefits. Why improve one’s self in order to work when work is totally unnecessary?
They know what they are doing. Gain control of vital aspects of human life such as food and health, and in time you will have control over that life.
The middle class has always been the greatest bulwark against the will of elites, not just in the U.S. but worldwide. Therefore it must be eliminated. But boil the frog slowly, lest it resist.
So we see food prices up by 10% in the last five years, according to the CPI. With the ACA, healthcare costs have doubled in just three.
You want to slowly crush the middle class out of existence? Those two angles of attack will do it right there. Slowly, year after year, the ratchet tightens.
Karl Marx HATED the middle class.
He wanted them DEAD.
He wanted their blood FLOWING in the streets.
You can NOT use Marx’s ideas to help the middle class.
But that’s what we’re trying to do in 2016.
Bernie Sanders, Barack Obama, Elizabeth Warren - they have all kinds of Marxist ideas they want to use.
And you middle class Marxists just can’t wait to vote for these people.
So what do you want me to say?