Middle Class Dismissed

Fantasy Dream: Easy Retirement (If You Have $1 Million).

"MarketWatch is a conventional website. It runs financial news. It also runs articles on investing. This one caught my eye. 'How to make your nest egg last over 40 years.' That sounds good! I read it. The article says you can achieve this goal. But you will need at least $2 million. A million won’t get the job done. The point is this: a journalist in a major financial magazine shows that there is no easy retirement, even if you have $1 million at 65. But hardly anyone does. Then how will people afford retirement? They can’t. Do most people understand this? They will move in with their kids. Are the kids ready for this? No. Are the kids in debt? Yes." Continue reading →

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Audit finds bloated budget for green jobs training despite lack of open positions

"A federal audit shows that nearly a half-billion dollars in government funds was spent on training workers for so-called 'green jobs.' The only problem is that not enough positions in the growing industry exist. The findings -- released in a June report by the Government Accountability Office -- showed that only 55 percent of those trained were able to place in a new job, many of which were not technically green jobs. The $501 million in funding came from the 2009 stimulus law." Continue reading →

Continue ReadingAudit finds bloated budget for green jobs training despite lack of open positions

Civil Unrest Coming to America

"The 'start-up job rate' in our country – the number of jobs in newly created American companies – has fallen during the Obama administration to 7.8 per 1,000 people, a 31% decline from the first President Bush. Those missing jobs and the resulting impact on unemployed youth are the kindling that ignites fiery riots. When our unemployed youth reach the point where they perceive that they have little left to lose, well it will be London and Stockholm and Athens all over America. That’s a when, not an if. The question I wonder is how America will react. Will the riots be enough to change the stupor in Washington?" Continue reading →

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The Secret’s Out: Now Is the Time for International Diversification

"For the United States and other debt-addicted countries, years of profligate spending have more or less sealed their economic fates. With the stage set, further encroachments of privacy are practically guaranteed. Faced with economic uncertainty, governments will search for new ways to plunder the productive members of society. These may include capital controls, more onerous regulations, or wealth confiscation, either explicitly or by way of the printing press. The developing NSA story along with the crisis in Cyprus prove that desperate governments will stop at nothing to prevent their house of cards from collapsing, no matter how futile." Continue reading →

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How payday lenders pop back up even after states crack down

"The products reflect a basic fact: Many low-income borrowers are desperate enough to accept any terms. In a recent Pew Charitable Trusts survey, 37 percent of payday loan borrowers responded that they’d pay any price for a loan. In 2012, New Hampshire joined states like Georgia and Arizona that have banned triple-digit-rate payday loans but allow similarly structured triple-digit-rate auto-title loans. And as in Ohio, Texas lenders started defining themselves as credit repair organizations, which, under Texas law, can charge steep fees. Texas now has nearly 3,500 of such businesses, almost all of which are, effectively, high-cost lenders." Continue reading →

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Bill Bonner: What does money represent?

"Higher wages do not get you anywhere if prices rise too. What you really need is higher productivity. How do you get that? You need to save money (rather than spend it) and invest in things that produce more...thus providing the profits necessary to pay more to the people who produce it. Really. Is that so difficult to understand? For the last 42 years, the feds have encouraged Americans to spend their money, rather than save it. And they've encouraged people to buy things made by foreigners, rather than make things themselves. This was the consequence (perhaps unintended) of Richard Nixon's pure paper money system." Continue reading →

Continue ReadingBill Bonner: What does money represent?

40% Of US Workers Now Earn Less Than 1968 CPI-Adjusted Minimum Wage

"40.28% of all workers make less than $20,000 a year in America today. So that means that more than 40 percent of all U.S. workers actually make less than what a full-time minimum wage worker made back in 1968. That is how far we have fallen. Good paying full-time jobs are disappearing, and they are being replaced by low paying part-time jobs. So far this year, 76.7 percent of the jobs that have been 'created' in the U.S. economy have been part-time jobs. That would be depressing enough, but what makes it worse is that wages for many of these low paying jobs have actually been declining over the past decade even as the cost of living keeps going up." Continue reading →

Continue Reading40% Of US Workers Now Earn Less Than 1968 CPI-Adjusted Minimum Wage

Poor Economy = Low Gold Price?

"By the time 1979 hit, inflation was rising, gas prices were soaring, incomes were dropping, and mortgage rates were climbing. The S&P was rising, but not so much in real terms. GDP growth was high, but it was clearly not a rosy time for consumers or workers. So how did gold perform during this challenging economic environment? The gold price rose 23% in 1977 and 37% in 1978, both of which are considered economic expansion years. But as things worsened in 1979, the price accelerated and went into a mania, ending the year with an incredible 127% return." Continue reading →

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Nazi gold and currency wars – A full guide

"Nazi gold is a phrase that refers to the bullion looted by the Nazis in the run up to and during the Second World War. Gold clearly plays a strong role in history and features as both a political and economic weapon during the Wars of the 20th Century. Upon invasion Nazis would loot a country’s gold reserves, along with other valuable assets, and promptly work to devalue the sovereign currency. This pillage of the financial system is not well known but it served effectively as a weapon in their campaign to take-down whole nations. The Nazis consolidated their power by holding gold whilst their victims were consigned to weak paper currencies." Continue reading →

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