Source – leohohmann.com “…The “Great Reset,” as they have branded it, is really about the destruction of the American middle class. They want to make everything more expensive, from the fuel that powers your automobile and the trucks that haul your food, to utility rates and all manufactured goods. Food prices are sensitive to fuel…
Source – charleshughsmith.blogspot.com “…Many of these causes are part of a single dynamic, the decapitalization of the middle class and the decay of the ladder of social mobility which enabled tens of millions of workers to transform their wages into productive capital via saving and investment in their own human capital, their own enterprises and assets that earn income”…
Source – paulcraigroberts.org “…Hudson, who has been on the job of analyzing America’s eroding economy for a long time, emphasizes that the US economy is no longer a productive or industrial economy but a financialized economy in which bank lending is not used for new plant and equipment but for the financing of takeovers of…
Source – charleshughsmith.blogspot.com “…In other words, what separates the working class from the middle class is the middle class is able to transform their labor into capital while the labor of the working class only funds consumption. The working class is defined not by credentials, type of labor or credentials but by limited access to the means to…
Source – charleshughsmith.blogspot.com “…No, this is not a typo. As this RAND report documents, $50 trillion has been siphoned from labor (the lower 90% of the workforce) to the Financial Aristocracy and their technocrat lackeys (the top 10%) who own the vast majority of the capital” The Top 10% Is Doing Just Fine, The Middle…
Source – stephenlendman.org “…During two Obama/Biden regime terms, force-fed austerity was official policy, what’s likely to continue in some form ahead with no end of it in prospect by either right wing of the one-party state. Economist John Williams explained that US economic collapse keeps “hardening…” while Fed money creation expanded year-over-year by “a record…
Source – ericpetersautos.com “…Of course, “we” aren’t. There is the essential class – which issues and enforces the “mandates” – which it is important to constantly repeat are not laws but literally the arbitrary decrees of politicians grown fat, like blood-gorged ticks, with limitless power somehow acquired in the name of gesund…and there is the rest of us, deemed non-essential. We are supposed…
Source – stuartbramhall.wordpress.com “…The game copies real life…To achieve the goal of Realism we have included an Economic Draft card….It says, “You are impoverished and desperate so you join the military of a NATO country. The Banker has declared war in your behalf against country X. Country X is full of Evil People who do…
Source – charleshughsmith.blogspot.com “…Of the many things we cannot bring ourselves to admit, one of the most consequential is that our vaunted middle class is illusory, a phantom of our imagination rather than a reality. The reality is the vast majority of the nation’s wealth and income has been diverted from the middle class to those…
Source – zerohedge.com “…On top of it all, the government – who the average Joe trusts to do right by them – is telling them inflation has basically been a myth. Again, the Chapwood Index paints a different story, showing cost of living rising about 10% in major U.S. cities, annually” “It’s A Constant Struggle”: Cost…
Source – silverdoctors.com “…A fascinating study out of UCLA measured the effect in the British West Indies of plantation owners using the state and legal coercion to restrict the outside options of former slaves and thus secure a steady supply of cheap labor. Return to plantation owners was highest where they could successfully lobby to restrict homesteading…
Source – commondreams.org “…Forty years ago, around 1980, the uber-wealthy decided they wanted to get their money out of the economy….They wanted to take their money somewhere where they could pay people 1/20th what they paid here (less than $1 an hour), where there were no environmental or labor laws, where the workforce was plentiful, hungry,…
Source – theAnalysis.news “…We’re talking about eight trillion to the one percent, two trillion to the rest of the population. Nancy Pelosi and the Democrats made a deal with the Republicans. They both agreed that they wanted to pay their respective campaign contributors, the financial sector, and the real estate sector. They were realistic. We…
Source – theeconomiccollapseblog.com “…Even Jerome Powell is admitting that the boom years are over…As of October 24th, a total of 21.16 million Americans were bringing home some type of unemployment assistance. One year ago, that number was just 1.45 million” Fed Chair Powell Admits The Truth: “We’re Not Going Back To The Same Economy” By…
Source – charleshughsmith.blogspot.com “…Neofeudalism: the modern-day equivalent of the landless (i.e. owns no capital) serf is a landless (i.e. owns no capital) debt-serf with student loans, an auto loan and credit card debt and income that is constrained by globalization, financialization and the scarcity of high-paying work that isn’t reserved for insiders and the privileged few who chose their…
Source – cluborlov.blogspot.com “…You readily identify this state of affairs as a pure pyramid scheme. Since pyramid schemes all fail…you start looking for a way to front-run its collapse in order to maintain control of the situation. Your main short-term objective would be to avoid a worldwide panic by placing the global economy into something…
Source – canadianpatriot.org “…“What if a small group of world leaders were to conclude that the principal risk to the Earth comes from the actions of the rich countries? And if the world is to survive, those rich countries would have to sign an agreement reducing their impact on the environment. Will they do it?…
Source – naturalblaze.com – “…From grain elevators in Iowa, to sugar silos in New Orleans, to food warehouses in Essex, to grain reserves in Beirut — the world’s food supply chain is strangely going up in flames” Food Supply Spontaneously Combusting? Controlled DEMOLITION Of Supply Chain From grain elevators in Iowa, to sugar silos in…
Source – ellenbrown.com – “…For 95 percent of the population, the economy stopped growing in 2008, when Obama bailed out the banks and left all the bad debts in place. Since 2008, all the growth of GDP – all the increase in national income – has accrued just to the wealthiest five percent of the…
Source – davidstockmanscontracorner.com – “…In short, what we have is a government-ordered depression, not a macroeconomic recession that is purportedly remediable by a huge dose of monetary and fiscal stimulus. So the truth is, the Virus Patrol, not the Fed and Washington’s everything bailout brigade, is in charge of the recovery from the Q2 disaster”…
Source – unz.com – “… Buffer Overflow: the Ghastly Future of Work – By FRED REED FRED REED • JULY 13, 2020 • 900 WORDS • 149 COMMENTS • REPLY A common topic around the web is whether automation will drastically increase unemployment. The usual scholarly answer is only a bit, and conservatives often insist that new jobs will always be found. Actually,…
Source – commondreams.org – “…changes in bargaining power didn’t happen by accident. As corporations have gained power, they’ve been able to gut anti-monopoly laws, allowing them to grow even more dominant….The declining share of total U.S. income going to the bottom 90 percent over the last four decades correlates directly with the decline in unionization.…
Source – unz.com – “…The process of shedding millions of workers in the existing economic system is likely to be painful for the unemployed. The virus-blamed lockdown and digital control allows the owners of the digital companies to carry out the revolution with minimal risks for them. What would need an army and police involvement…
Source – commondreams.org – “…One of the themes of the superb writing of Henry Giroux is that more and more Americans are becoming “disposable,” recognized as either commodities or criminals by the more fortunate members of society. There seems to be a method to the madness of winner-take-all capitalism. The following steps, whether due to greed or…
Source – strategic-culture.org – “…The biggest orgy of funny money is seen in the U.S. where the Trump administration and Congress have approved the printing of trillions of dollars to prop up corporations and banks. Meanwhile crumbs are being thrown at millions of workers and their families…Many of these corporations have stashed trillions of dollars…
Source – orientalreview.org – “…The international banks that have been looting the planet through the US dollar since 1944 are now threatened by hyperinflation, as their printing machine has been rotating for years to cover their absurd spending to sustain oil and resource wars that they’ve all ultimately lost. In order to prevent this upcoming…
Source – thesaker.is – “…Western corporate media, en masse, have virtually ignored the myriad, devastating economic consequences of Planet Lockdown. Wall to wall coverage barely mentions the astonishing economic human wreckage already in effect – especially for the masses barely surviving, so far, in the informal economy” Ground Control to Planet Lockdown: This Is Only…
Source – theeconomiccollapseblog.com – “…Many Americans have applauded the recent moves by the Federal Reserve, and just about everyone seems thrilled that big government checks are coming, but they won’t be so thrilled when a loaf of bread costs five dollars and a gallon of milk costs ten dollars” This Is What Economic Collapse Looks…
Source – riggedgame.blog – “…The in-built secrecy and treachery of this bailout stinks even more to high heaven than the last one. And this time, taxpayers are on the hook for any losses….Six of the institutions receiving massive loans from the Fed were not even U.S. banks but global foreign banks that had to be…
Source – birchgold.com – “…The COVID-19 pandemic is a perfect cover event. It is a virus with a strangely long incubation period coupled with being highly transmissible and just deadly enough (3% to 5% death rate) to cause fear within the population….But the virus is not the cause of the economic collapse; it is only…
Source – zerohedge.com – “…In three months, the global equity market has lost $24 trillion in value, more than the $22 trillion in US GDP. And here is a staggering chart from BofA putting the crash of 2020 in its historic context: in the past month, the US stock market has crashed faster than both…
Source – canadianpatriot.org – “…The Ugly Truth of Today’s Crisis…New “sub-prime” bubbles have been created in the Corporate Debt sector which has risen to over $13.8 trillion (up 16% from the year earlier). A quarter of which is considered junk, and another half graded at BB by Moodies (a step above junk). This sum is…
Source – economicprism.com – “…Today’s money needs a stable base to derive its meaning and value from. Without such a reference point, we’ll just continue to spin out of orbit. Money will continue to accrue more zeros at the end of everything it measures. Yet, what good’s a $100 dollar bill if it only buys…
Source – libertyblitzkrieg.com – “…You have multitudes taking on debt defensively just to keep going and avoid falling further down the socioeconomic scale. Debt doesn’t empower such people, rather, it turns them into modern day indentured servants endlessly stuck on a hamster wheel with little to no hope of getting off. This is not an…
Source – oftwominds.com – “…America’s Deep State no longer enjoys a monolithic unity of world-view and narrative. The Deep State has fragmented into two conflicted camps: the Neo-conservatives, who espouse the globalist, interventionist foreign policy manifestation of Neoliberalism, and a smaller, more forward-looking camp that understands Neoliberalism is actively undermining our national security and our…
Source – yesmagazine.org – “…In ‘The Limousine Liberal’, historian Steve Fraser traces the rise of right-wing populism to the Nixon presidency when blue-collar Whites realized that “their social contract with New Deal liberalism was expiring.” Structural unemployment and wage stagnation were taking their toll, but the Democrats offered no solutions. Nixon offered no help to…
Source – journal-neo.org – “…Western capitalism has entered a stage where it views the population not as an asset, but as a burden. Instead of seeing each citizen as capable of creating a contribution to society, and making the country better, the population is viewed as a problematic horde that must be carefully managed and…
Source – zerohedge.com – “…This is what drives me nuts about the left. All immigration is to flood the zone with cheap labour, and the reason is because the elites don’t give a fuck about African Americans and the Hispanic working class. They don’t care about the white working class either. You’re just a commodity”…
Source – zerohedge.com – “..In the U.S., the main factor as to whether or not a worker can beat out a robot for a job seems to be his or her education. Overseas, in the EU, a lot of it is determined by how strong a workers’ employment contract is…Giugliano argues that it would be…
Source – charleshughsmith.blogspot.com – “…America is being hollowed out as local enterprises that reinvested profits back into their own communities have been wiped out by monopolies and cartels drawing upon unlimited credit lines of cheap money supplied by the Federal Reserve and other central banks, a system that guarantees the top few will collect whatever…
Source – mishtalk.com – “…The goal is to produce 23 million t-shirts at 33 cents each, about one shirt every 26 seconds….It’s rather difficult to compete against 33 cents when shipping and transportation costs are rolled in” SM: ..A little twist on ‘Make America Great Again’… Made In The USA (By Robots): China Opens ‘Sewbot’…
Source – ronpaulinstitute.org – “…Since the creation of the Federal Reserve, the US dollar has lost over 96 percent of its value. The Federal Reserve-caused decline in purchasing power is a stealth tax. This inflation tax does not affect the financial elites—who receive new money created by the Federal Reserve before the Fed’s actions have…
Source – oftwominds.com – “…The “muddle class” which muddles through on earned income, much of which goes to debt service (student loans, auto loans, mortgages, credit cards) and skyrocketing big-ticket expenses: rent, healthcare, childcare, etc. Unable to save enough to move the needle on household capital, any net worth is dependent on speculative asset bubbles…
Source – strategic-culture.org – “…What still remains absolutely off limits for the guardians of the current world-system is to really investigate hardcore neoliberalism as the root cause of wealth hyper-concentration and social inequality. It’s not enough to offer Band-Aids anymore. The streets of South America are alight. Blowback is now in full effect” Burn, Neoliberalism,…
Source – zerohedge.com – “…The 2020s will be known as the great transformation period where corporate America abandons its workforce for automation. The coming job losses, due to automation, will be on par with the automation revolution of agriculture (the transition of farm workers into the industrial sector) from 1900 to 1940” Report: AI, Robots…
Source – oftwominds.com – “…Technology, like natural selection, has no goal. Technology doesn’t have a teleological drive to employ humans, save the planet or any other goal we might choose. In the current socio-political-economic system, technology is mostly aimed at maximizing profits. The surest way to reduce costs is to replace costly humans with automated…
Source – unz.com – “…In other words, during the housing market collapse, when wealthy investment bankers were losing a lot of money (and before they got it back during the bailout), workers’ hourly compensation jumped up faster than productivity for the first time in decades – though not by nearly enough to close the gap,…
Source – zerohedge.com – “…Not just on millennials, but Americans in general. For example, we know that 14% of Americans have “negative” wealth. We also know that 62% of Americans don’t have emergency savings that could cover a $1,000 hospital visit or a $500 car repair” Here Are The Countries Where Millennials Will Have To Work Until They…
Source – charleshughsmith.blogspot.com – “…Something has changed and the change is deep in the very fabric of the Italian society. And the change has a name: it is the twilight of the age of oil. Wealth and energy are two faces of the same medal: with less net energy available, what Italians could afford 50…
Source – thegreatrecession.info – “…Rather than the longest expansion in US history, we’ve been enduring the longest recession in US history ever since the dot-com bust. The above chart shows the GDP growth rate, and the REAL GDP “growth” rate, which has actually been contraction, not growth, for the past two decades if measured by…
