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 – 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 – 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 – 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 – 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…
Source – theburningplatform.com – “…Yellen and her cronies have been riding the low oil price gravy train for the last 18 months, giving them cover to not raise rates because inflation was below their fake propaganda goal of 2%. The plunge in oil prices from $100 a barrel in August 2014 to below $30 a…
Source – rielpolitik.com – “…The much touted social contract between the American Republic and its citizenry, has been supremely altered over the course of 40 years of regressive social policies, rendering today’s American landscape almost unrecognizable from its recent past…America’s road to ruin is littered with the broken bodies of political visionaries, social revolutionaries &…
Source – globalresearch.ca – “…Establishment elites and corporate media pundits tend to stigmatize the white working Americans in order to sanitize the brutal neoliberal policies of austerity economics of the past four decades. The plan and the hope is that in so doing they can exonerate the policy-makers of the establishment—both Republican and Democratic—of the…
Source – theeconomiccollapseblog.com – “…Since the turn of the century, we have lost more than 50,000 manufacturing facilities. Meanwhile, tens of thousands of gleaming new factories have been erected in places like China – Does anyone else see something wrong with this picture?: (From An Industrial Economy To A Paper Economy – The Stunning Decline…
Source – zerohedge.com –“…The biggest factor by far impacting the performance of both dollar stores was the sharp, adverse turn in the purchasing power of the lower half of US consumers…when you really start breaking it down and you look at that core consumer that we serve on the lower economic scale that’s out there,…
Source – zerohedge.com – “…The rise of populism in America is a byproduct of inflationary policies that have helped trigger a dramatic increase in consumer debt, declining real wages and rising prices for food and housing since 1999”: (The Real Reason Behind The Surge In Populist Anger: Central Banks) In the din of the relentless…
Source – charleshughsmith.blogspot.ca – “…The American ruling class and the mainstream punditry are struggling to square the circle, that is, defend the globalization of the U.S. economy that has greatly enriched corporations, the wealthy and the top 5% of the work force but also alleviate the stagnation in the incomes and wealth of the bottom…
Source – journal-neo.org – “…The word ‘capitalism’ doesn’t mean what it used to. For those who grew up during the Cold War, capitalism meant freedom from the Soviet Union and other totalitarian regimes. For those who grew up more recently, capitalism has meant a financial crisis from which the global economy still has not completely…
Source – libertyblitzkrieg.com – “…If nothing else, this should prove to everyone that the U.S. economy has become a grotesque, unsustainable, cancerous monster. It’s an unethical creation of oligarchy for oligarchy; a parasitic blob that solely exists to reward the already rich and powerful. What no longer benefits the nation’s citizens in any meaningful way needs to be fundamentally transformed before…
Source – davidstockmanscontracorner.com – “…Actual main street inflation—led by the four horseman of food, energy, medical and housing—–has been running at 3.1% per annum since the turn of the century. After 16 years this considerable annual gap, of course, has ballooned into a chasm. As shown in the graph, the consumer price level faced by flyover America…
Source – theburningplatform.com – “…If GDP is dependent upon consumer expenditures to generate 69% of its total, how could it grow as real household incomes decline? – If you guessed enormous amounts of debt, you win the booby prize. The establishment (Wall Street, mega-corps, politicians, corporate media) convinced the masses to impoverish themselves while trying…
Source – oftwominds.com – “…Crony-state capitalism has imposed rentier monopolies and cartels on wage earners, effectively transferring more of the nation’s income and wealth to politically powerful entrenched interests and cartels”: (No Wonder We’re Poorer: Wages’ Share of GDP Has Fallen for 46 Years – By Hugh Charles Smith) The problem is that limiting financialization…
Source – sputniknews.com/r – “According to a new study from the National Center for Health Statistics, the suicide rate in the United States has risen dramatically over the past decade-and-a-half” Adjusting for age, it jumped 24 percent between 1999 and 2014, with the biggest increases coming after 2006. Thirteen out of every 100,000 people now kill themselves, making suicide one…
Source – wakingtimes.com – Billion dollar lawsuits are nothing to gold-rigging banks like Deutsche, but the proposition of spending time in jail might just have motivated the notorious criminal institution’s executives to rat on its peers. This is just the beginning of disclosure in the financial industry which the world has never before seen. Deutsche…
Source – silverdoctors.com – Researching economic publications on the first century of the Federal Reserve System provides a wealth of financial information that attempts to explain the way the central bank works. Rarely will the academic studies and official reports address the raw nature of a money creation by a private banking monopoly. The common…
Source – davidstockmanscontracorner.com – The systematic destruction of the American way of life is happening all around us, and yet most people have no idea what is happening. Once upon a time in America, if you were responsible and hard working you could get a good paying job that could support a middle class lifestyle…
Source – robertreich.org – I used to believe in trade agreements. That was before the wages of most Americans stagnated and a relative few at the top captured just about all the economic gains. The old-style trade agreements of the 1960s and 1970s increased worldwide demand for products made by American workers, and thereby helped…
Source – theburningplatform.com, By Jim Quinn – Boomers aren’t retiring en mass because they can’t afford to retire. The labor participation rate of the younger generations is being negatively impacted by the non-retirement of Boomers. This is called the trickle down effect from unintended consequences. The establishment has strip mined the wealth of the country,…
Source – downwithtyranny.blogspot.ca – “Compared to the national average, you are poorer then people of your age in the past. In real terms, your disposable income is about $3,389. LESS then in 1978”: The Sanders- and Trump-led (for now) political rebellion is not going to go away. There are only two questions going forward: Will…
Source – investmentwatchblog.com – Did you know that when you take the number of working age Americans that are officially unemployed (8.2 million) and add that number to the number of working age Americans that are considered to be “not in the labor force” (94.3 million), that gives us a grand total of 102.5 million…
