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…
Source – theorganicprepper.com – ‘…Stimulus policies do not bring about a solid recovery but manufacture a phony economic growth that distorts the economy’s structure of production. Instead of a V-shaped recovery that would occur if government abstained from intervention, policymakers produce an L-shaped agony. As if a prolonged stagnation wasn’t already bad enough, the interventionists…
Source – zerohedge.com – “…The very last thing Europe needs is a monetary policy experiment or continuation of an existing policy of financial repression, which lead to an erosion of purchasing power, income inequality, and the rise of populism. It occurred 100 years ago, and people remember how it all ended up. We should do…
Source – charleshughsmith.blogspot.com – “…The keys to understanding the concealed crisis of decline are purchasing power relative to wages/earnings–how many goods and services can wages buy? For the average American household, wages have risen modestly while the purchasing power of those wages has plummeted” America’s Concealed Crisis: Fifty Years of Economic Decline, 1969 to 2019…
Source – oftwominds.com – “…If we take off our rose-colored glasses, we have a much more stratified economy and society than we might like to believe…The “middle” has eroded away, leaving the top 15% who are doing very well in the status quo and the bottom 85% who are struggling to maintain a meaningful sense…
Source – economicprism.com – “…What’s the real source of the working stiff’s grave economic discomfort?…today’s great chasm between rich and poor – is the product of central planners. Not the Soviet style central planner that dictated prices with ridiculous five year plans. But, rather, a more covert central planner that draws down the value of…
Source – mybudget360.com – “…The biggest scam of the century revolves around the massive growth in debt…Americans have been put into a sleepwalking state where they were drunk on debt induced spending while slowly and surely our manufacturing base was removed from the country…Banks and Wall Street have not cut back and have gone the…
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 – econimica.blogspot.com – “…The reason for fast declining birthrates since 2007 in the US and among most nations globally seems to be the current ZIRP and low interest rates and Quantitative Easing programs which have the effect of inflating asset prices” Economic Doom Loop Well Underway – By Chris Hamilton From 2007 through 2018,…
Source – pcmag.com, By Evan Dashevsky – Economists of the past century have, for the most part, rejected the notion that technological advancement destroys the need for human labor. Or, if there was to be any effect on the labor force, they’ve claimed it would only be beneficial. Back in the 1930s, for example, the…
Source – oftwominds.com – “…The politically invisible / financially vulnerable have declared we’re still here to their globalized elite aristocrats, and this rebellion against elite domination and profiteering is being demonized by the corporate-state media as populism rather than what it really is: a full-blown revolt of the working class” 2019: The Three Trends That…
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”: Made In The USA (By Robots): China Opens ‘Sewbot’ Factory In Arkansas, Producing Shirts For 33c A…
Source – oftwominds.com – “…Privilege is immoral, as rising inequality is the only possible output of privilege. Privilege is exploitive, parasitic, predatory and destructive to the society and economy, and generates inequality by its very nature…Stripped to its essence, privilege is nothing but institutionalized racketeering”: Why Wages Have Lost Ground in the 21st Century –…
Source – wolfstreet.com – “…Even professional jobs such as lawyers are being taken over by bots. Not their rare courtroom appearances, or their roles in negotiations with other humans, but their daily grunt work, which is much of what lawyers do, such as preparing reams of documents. And then there’s discovery: “It’s already no longer…
Source – orilliapacket.com Canadian Trial May Soon Hold Bankers Accountable For Their Crimes – The Canadian and US mainstream media have been silent about this. They’re hoping nobody will notice that people actually are fighting back against the incredible corruption of the international banks – “I’m the bad guy,” I overheard the government lawyer say…
Source – zerohedge.com – This is simply stunning. Regular readers will recall that last month, at the same time as the US Bureau of Economic Analysis reported was a far better than expected 3.9% GDP (since revised to 5.0% on the back of the previously noted Obamacare spending surge), it also released its Personal Spending…
Source – charleshughsmith.blogspot.ca – “…The Left is not just in disarray–it is in complete collapse because the working class has awakened to the Left’s betrayal and abandonment of the working class in favor of building personal wealth and power. Anyone who denies this is still in the fatal grip of the Left’s Great Con”: (The Collapse…
Source – zerohedge.com – “…despite being better educated, millennials now earn 20% less than boomers did at the same stage of life in 1989… the median college-educated millennial with student debt is only earning slightly more than a baby boomer without a degree did in 1989”: (Why Millennials Are Behind: They Earn 20% Less Than…
Source – charleshughsmith.blogspot.com – “…Daniel Bell’s landmark 1976 book The Cultural Contradictions of Capitalism held that“capitalism–and the culture it creates–harbors the seeds of its own downfall by creating a need among successful people for personal gratification–a need that corrodes the work ethic that led to their success in the first place”: (The Cultural Contradictions That…
Source – doctorhousingbubble.com – “…Reading through the comments on the Canadian bubble post is very reminiscent of 2007 in California where the “not in my back yard” arguments dominated the discussion. The nature of this housing bubble is global and the collapse of markets across the globe will have wide ranging impacts that are yet…
Source – occupy.com – “…We see it in every industry over the last decade or so, cutting workers and benefits, sick leave or vacation time. Piling more work and demands on those that remain, impossible quotas for sales under threats of termination. Americans training teams from India to do their jobs as they teeter on…
Source – dimartinobooth.com – “…The tie that binds the generations comes down to one word: debt. That’s where the Federal Reserve has inflicted the greatest damage. Set aside for a minute U.S. sovereign and corporate debt. While they’re mammoth challenges for tomorrow’s policymakers, it is household debt that has torn at the fabric of our culture and fueled…
Source – peakprosperity.com – “…So, what’s a prudent person to do? – Well, for starters, resist the urge to blindly follow the herd cheering today’s record highs. Capitulating and jumping into risk assets at the end of a bubble market is simply signing up to be the greatest fool who’s left holding the bag when…
Source – oftwominds.com – “…This fear-based mass hysteria is the perfect mechanism to distract a populace from the reality of a self-serving Elite that profits from their serfdom. Please glance at these four charts, which tell a simple but profound truth. Productivity has risen for 36 years, but the gains from that massive increase in…
Source – oftwominds.com – “…Rising inflation crushes the purchasing power of the bottom 95% whose incomes are not rising along with double-digit cost increases in big-ticket expenses. Central banks seeking to boost inflation are waging financial war on the bottom 95% of households”: (The Disaster of Inflation, For the Bottom 95% – By Charles Hugh…
